SEC v. Mina Tadrus

Mina Tadrus allegedly solicited and sold investments in Tadrus Capital Fund LP, targeting members of the Egyptian Coptic Christian community. According to the complaint, the defendants raised more than $5 million from at least 31 investors and falsely told investors that funds would be pooled and invested using algorithmic trading. According to the complaint, the defendants did not actually invest the vast majority of investors' funds, used approximately $1400000 of investors’ money to make Ponzi-like payments, and misappropriated over $380000 of investors’ money for Tadrus’s own benefit.

Summary generated from official Securities and Exchange Commission press release