Suspects swindle victims in complex investment schemes
CONTACT:
Alaleh Kianerci
Deputy District Attorney
Major Fraud Unit
(408) 792-2955
[email protected]
Suspects swindle victims in complex investment schemes
A Morgan Hill man has been charged with promising people lucrative investments only to steal their money for himself. He had befriended his victims in the Middle Eastern community.
Sayed Tamim Faquiryan, 45, is charged with Grand Theft, Securities Fraud, Identity Theft, Passing Fraudulent Checks, Filing a False Document, all with White Collar Excessive Taking enhancements for misappropriating more than $2,300,000 from four unsuspecting victims. Faquiryan would lure his victims with opportunities to invest in a gas station or a car wash or in other real estate investments. No such investments existed.
He was arraigned on Jan. 31 and is out on $250,000 bail pending trial. His next court date is April 11, 2024. If convicted, he could face incarceration in prison and be required to pay restitution to all four victims.
District Attorney Jeff Rosen praised the DA Investigators whose comprehensive probe broke open the fraud case.
DA Rosen said: “Our community should be safe from financial predators and financial predators should know they are not safe in our community.”
Faquiryan befriended each victim and gained their trust before approaching them with fictional investment deals - including a gas station in Berkeley and a carwash in Gilroy. He convinced them to transfer hundreds of thousands of dollars to his personal accounts. He never used any of the money for the stated purpose or returned the money when questioned. Faquiryan’s thefts happened between January 2016 and December 2022.
His co-conspirator, Navid Azizian, 41, of Novato has been charged with six counts of grand theft and an excessive taking enhancement for his alleged involvement in fraudulent investment scheme as to one of the victims.
The case is set for plea in April. Anyone with information please contact Investigator Justin DeOliveira at 408-792-2420 or