Gandhinagar man held in US for ponzi scam worth $4,00,000

A 23-year-old man from Gandhinagar has been indicted in a case of ponzi scam worth $4,00,000 in Alabama in the US. The accused, Pathyam Patel, began selling securities without registration and kept collecting money after guaranteeing huge returns which he never invested in securities. Instead, he used them to meet his personal expenses.