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Tuscaloosa man charged with securities fraud in $400k investment scheme

ABC 3340

A Tuscaloosa man was arrested and charged with multiple state securities law violations.

According to the Alabama Securities Commission (ASC), 23-year-old Pathyam Patel, also known as Pat Patel, was arrested March 6 on on nine charges.

The charges include: one count of 'Fraud in the Sale of Securities' and six counts of 'False Statements in the Sale of Securities.' All counts are Class B felonies with punishment ranging from two-20 years of incarceration and a fine up to $30,000 for each felony.


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