Ramesh Kris Nathan, Investment Fraud, California 2019

Alleged investment scammer Ramesh Kris Nathan, 37, has been indicted on charges of defrauding investors out of millions of dollars, announced United States Attorney David L. Anderson and Federal Bureau of Investigation Special Agent in Charge John F. Bennett.

Nathan, a U.S. national with a last known address in Chennai, India, allegedly created a Nevada corporation called Relativity Research Fund, Inc. (Relativity) in June 2016, with the intention of inducing investors to provide funds for non-existent business enterprises.

According to the indictment, Nathan used Relativity’s website and emails to make false and misleading statements to potential investors, claiming the company was involved in the development of advanced robotics, space travel technology, and combustion-free propulsion systems, among other technology-related enterprises.

Nathan also represented that Relativity had a $10,000,000 capital investment, seven worldwide offices, employed 15,456 employees, generated gross revenue of $36.87 billion in the fourth quarter of 2016, and earned a profit of $29.8 billion in the fourth quarter of 2016. However, none of these facts was true.

The indictment charges Nathan with six counts of wire fraud, in violation of 18 U.S.C. § 1343, two counts of money laundering, in violation of 18 U.S.C. § 1957; and one count of aggravated identity theft, in violation of 18 U.S.C. § 1028A. If convicted, Nathan faces a maximum sentence of 20 years in prison and a maximum $250,000 fine on each count of wire fraud, as well as 10 years in prison and a $250,000 maximum fine for each count of money laundering.

Nathan also faces a mandatory two years in prison consecutive to any other sentence, and a maximum $250,000 fine, if convicted of the aggravated identity theft count. In addition, the court may order an additional term of supervised release, fines or other assessments, and restitution, if appropriate.

Nathan was arrested yesterday in Los Angeles and made his initial appearance today. His next appearance has not been scheduled as of the time of this writing.