SEC v. Arsalan A. Rawjani

Arsalan A. Rawjani allegedly conducted an affinity fraud and Ponzi scheme centered in the North Texas Ismaili community. According to the complaint, between 2021 and 2024, Rawjani falsely promised that investors' money would be pooled for trading options contracts and that investors would be paid a monthly dividend from Trade with Ayasa’s options trading profits. The complaint alleges that most of the money was either misappropriated for Rawjani’s personal gain or misused for Ponzi payments. The SEC seeks injunctive relief, disgorgement plus pre-judgment interest on a joint and several basis, and civil penalties.

Summary generated from official Securities and Exchange Commission press release