Conman Who Pretended to Be Beverage Entrepreneur Pleads Guilty to Federal Fraud Charges Stemming

[TexasTowelie]

Conman Who Pretended to Be Beverage Entrepreneur Pleads Guilty to Federal Fraud Charges Stemming from $5 Million Ponzi Scheme


LOS ANGELES – A Canadian national pleaded guilty today to five wire fraud charges for defrauding investors in a $5 million Ponzi scheme in which he pretended to be a successful beverage entrepreneur with close ties to well-known business executives and NBA stars such as Stephen Curry and Shaquille O’Neal.

Khemraj Dave Hardat, 50, a former resident of the Ritz-Carlton Residences at L.A. Live in downtown Los Angeles, entered his plea before United States District Judge Dale S. Fischer, who scheduled an August 12 sentencing hearing. As a result of today’s guilty pleas, Hardat faces a statutory maximum sentence of 100 years in prison.

In a plea agreement filed in United States District Court, Hardat admitted that, from August 2014 through November 2018, he falsely held himself out as a successful investor and businessman in the performance beverage and water-bottling industries. Hardat duped his investors by falsely representing that he had advanced educational degrees – including a Ph.D. – and that he maintained relationships with established business figures such as computer entrepreneur Michael Dell and the chief executive officer of PepsiCo.

Hardat also falsely represented that Basketball Hall of Famer Shaquille O’Neal was one of his business partners, and that professional basketball star Stephen Curry would be endorsing one of his company’s products, according to court documents. Furthermore, Hardat falsely claimed that PepsiCo and Dr. Pepper Snapple Group, Inc. owed him more than $100 million as the result of purported business deals he consummated with them, the plea agreement states.

Read more: https://www.justice.gov/usao-cdca/pr/conman-who-pretended-be-beverage-entrepreneur-pleads-guilty-federal-fraud-charges

[ROB-ROX]

1. You Do Not Have To Be SMART If You Are RICH

People will do anything if they think they are going to be RICH. These people FAILED to do their homework and CHECK the facts. The CRAP they were told could have been easily checked. The years this con man operated just goes to show his selected investors were all PIGEONS with little bird brains....