October 19, 2023
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.
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