U.S. prosecutors on Monday announced the arrest of a New Jersey man accused of engaging in a multimillion-dollar fraud scheme involving bankrupt video technology firm Kit Digital, in the latest case to spill out of the startup’s failure.
Irfan Amanat, 45, was charged in a complaint filed in Manhattan federal court with conspiracy, securities fraud and wire fraud stemming from a scam prosecutors said he engaged in with his brother.
He is among seven people to face criminal charges since September 2015 as part of a probe into what prosecutors say were efforts to mislead investors and others about Kit Digital’s financial health before its 2013 bankruptcy.
Those charged include ex-Kit Digital CEO Kaleil Isaza Tuzman, a former Goldman Sachs analyst who achieved brief fame as an internet entrepreneur, and Omar Amanat, an investor in media, finance and technology companies who is Irfan Amanat’s brother.
Both have pleaded not guilty…..
More Here: New Arrest in Fraud Probe of Bankrupt Video Tech Firm