Although Neman

SEC Shuts Down Ponzi Scheme Targeting Persian-Jewish Community in Los Angeles

By Jacob Edelist

The SEC alleges that for the past two years, Shervin Neman raised more than $7.5 million from investors by claiming to be a hedge fund manager. Although Neman promised investors exorbitant returns resulting from his investing acumen and access to pre-IPO shares of well-known companies, what they actually received was simply other investors’ money in hallmark Ponzi scheme fashion.