Ex-Nixon Peabody Partner Snared Over $20M Scheme

Law360, New York (December 8, 2011, 5:53 PM EST) -- Federal prosecutors in California on Thursday charged the head of investment fund NewPoint Financial Services Inc. and his attorney, an ex-Nixon Peabody LLP partner, with conspiring to run a scheme that bilked investors out of $20 million.

In a 41-count indictment filed in the Central District of California, prosecutors charged NewPoint president and Iranian-American radio talk show host John Farahi with fraudulently misleading investors by telling them that their money would be used to purchase corporate bonds backed by the government's Troubled Asset Relief Program....
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