SEC bars ERA partner for lying, costing an investor $1m

Within days of receiving the investor’s $1 million, Betanabhatla—in direct violation of the promises made to the investor and contrary to Fund IV’s stated investment purpose—transferred most of the investor’s money to a completely different, undisclosed, and now non-operating oil and gas company in a failed attempt to bail out one of Betanabhatla’s earlier (and larger) investment funds

To read this article, you need to sign in.

You should only be asked to sign in once. Not the case? Click here

New to Regulatory Compliance Watch?

Register now to read this article and more for free.