SEC Says Ex-FBI Agent Helped Bilk Investors Out Of $2.1M

Law360 (September 3, 2019, 9:23 PM EDT) -- A onetime FBI agent aided various swindlers in several fraud schemes that swiped some $2.1 million from investors, the U.S. Securities and Exchange Commission alleged in a suit filed Friday in Georgia federal court.

Jayat P. Kanetkar, 52, a former FBI agent acting through his company, Guaranteed Investigations Inc., provided escrow services to a real estate fraudster as well as scammers who sold phony letters of credit purporting to be from major banks, the SEC said.

Kanetkar and his company "knew or were reckless in not knowing that the schemes were fraudulent, disbursing investor funds from escrow in contravention of written...

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