California Man Allegedly Masterminds $37,000,000 Ponzi Scheme, Draining Trove of Cash From More than 100 Victims’ Bank Accounts: SEC

The U. S. Securities and Exchange Commission (SEC) is accusing a California entrepreneur and his companies of executing a multi-million dollar Ponzi scheme. The SEC says Satish Appalakutty and his businesses, Lorven Funds and Lorven Advisors LLC, drained $37 million from over 100 people source: https://dailyhodl.com/2026/02/07/california-man-allegedly-masterminds-37000000-ponzi-scheme-draining-trove-of-cash-from-more-than-100-victims-bank-accounts-sec/