Idin Dalpour has been charged with wire fraud in connection with a multi-year Ponzi scheme that defrauded investors of at least $43 million.
Idin Dalpour has been charged with wire fraud in connection with an alleged multi-year Ponzi scheme that defrauded investors of $43 million or more, according to an unsealed indictment from the United States Attorney's Office for the Southern District of New York.
“Idin Dalpour told investors that they could reap huge returns by investing through him in a purported Las Vegas hospitality business and a crypto trading operation," said Damian Williams, U.S. Attorney for the SDNY. Dalpour is alleged to have run a Ponzi scheme from roughly 2022 through April of this year, targeting investors located in the U.S. and overseas. Instead of using investors funds as claimed — to support a Las Vegas hospitality enterprise and a crypto trading business — he allegedly misappropriated funds and paid out early investors with contributions from later investors.
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