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John Farahi, a popular Iranian-Jewish radio talk-show host and investment adviser, was sentenced in U.S. District Court on March 18 in downtown Los Angeles to 10 years in federal prison for operating a multi-million-dollar Ponzi scheme against local Iranian-Americans. Farahi, 56, also was ordered by the court to pay more than $24 million in restitution to close to 60 victims.
John Farahi, a Los Angeles Iranian-Jewish radio talk show host and financial investment manager, last week was charged in U.S. District Court in downtown Los Angeles for allegedly defrauding more than 100 local Iranian-American investors and various financial institutions of nearly $20 million over the course of nearly five years.