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