Pedram Abraham Mehrian, Strategic Legacy Investment Group, Inc., and SLIG High-Interest Liquid Savings Company

The SEC charged Pedram Abraham Mehrian and two companies he controlled (Strategic Legacy Investment Group and SLIG High-Interest Liquid Savings Company) with conducting a multi-year Ponzi-like scheme, resulting in the sale of $17.5 million in promissory notes.

Mehrian promised “guaranteed interest” above market rates; however, the funds were allegedly used to pay previous investors. Furthermore, Mehrian blamed the economic impact of COVID-19 on the failure to pay back other investors.