KRON 4: Morgan Hill man allegedly swindled over $2.4M from friends

(BCN) — Prosecutors in Santa Clara County are charging a Morgan Hill man with multiple counts of fraud-related crimes after he allegedly befriended people only to swindle them.

Sayed Faquiryan, 45, is charged with grand theft, securities fraud, identity theft, passing bad checks, and filing a false document, all with enhancements for white collar “excessive taking” for allegedly misappropriating more than $2.3 million from four people.

Prosecutors allege Faquiryan offered investment opportunities that never actually existed. He is accused of befriending people to gain their trust before approaching them with fictional investment deals, like a gas station in Berkeley and car wash in Gilroy. His alleged victims transferred hundreds of thousands of dollars into his personal accounts, prosecutors said.