CHAPEL HILL, NC – Kumar Neppalli, former Chapel Hill Transportation employee was caught for leading a ponzi scheme among the Indian-American community in Cary, North Carolina. He is being charged for 23-counts and 20 years of prison per count.
Victims blindly trusted Neppalli because of his former employment at Chapel Hill Transportation where he told people he had insider real-estate knowledge. He would collect funds from people to secure their investment and would use that money to pay back earlier investors. According to a press release from the U.S. Department of Justice that said the former engineer would typically ask the victims to not discuss their transactions with others.
“Our investigation shows Neppalli abused the trust and confidence placed in him by fellow Indian-American community members,” said Michael C. Scherck, FBI Acting Special Agent-in-Charge
More details to come regarding this case.