Ramesh Nathan, CEO of a purported spacecraft company, was convicted of fraud and money laundering after misleading investors about the existence and profitability of his business. He falsely claimed his company, Relativity Research Fund, had numerous offices and employees, generating substantial profits. Instead, the company was nonexistent. Nathan deceived investors with grand claims about advanced technology and misled them regarding stock market listings. He misappropriated funds for personal use, including travel, and laundered money through various accounts. His case highlights severe breaches of trust, particularly as many investors were military veterans.
Nathan spun fantastic tales about space travel technology and advanced robotics to entice investors into funding his company, but all he had to offer was science fiction.
A jury on Thursday found Nathan guilty of fraud and money laundering after an eight-day trial for misleading investors, including veterans, about a nonexistent business.
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