Indian American in NC Charged in Ponzi Scheme Targeting Indians

HI INDIA NEWS DESK
CARY, NC- In Cary, North Carolina, a former Indian American transportation engineer named Kumar Arun Neppalli, 56 has been indicted on 23 charges related to an investment scam or “Ponzi scheme,” targeting the Indian American community.

He was arrested Tuesday, is charged with 17 counts of wire fraud and six counts of conducting transactions in criminally derived property. The accused is expected to go to trial later this year and if convicted could face up to 20 years in prison per count and potential fines.

Neppalli, was accused of bilking 15 investors out of $1.9 million in business loans that he acquired through his connections with the Triangle’s Indian community. Neppalli, used to contact the victims telephonically or in person to describe a local real-estate investment opportunity, usually in Orange County.