Sreedhar potarazu jail sentence
Sreedhar potarazu jail sentence
Sreedhar potarazu jail sentence in urdu!
Indian-American doctor jailed for $49 million fraud
Indo Asian News Service, Washington | ByIndo Asian News Service
Jul 22, 2017 12:08 AM IST
Potarazu provided materially false and misleading information to VitalSpring’s shareholders to induce more than $49 million in capital investments in the company.
An Indian-American doctor-cum-entrepreneur was sentenced to nearly 10 years in prison for defrauding his former company’s shareholders of more than $49 million.
Sreedhar Potarazu, 51, an ophthalmic surgeon licensed in Maryland and Virginia, founded VitalSpring Technologies Inc in 2000 and was its CEO and President and served on its Board of Directors, the US Department of Justice said on its website.
Prosecutors said Potarazu provided materially false and misleading information to VitalSpring’s shareholders to induce more than $49 million in capital investments in the company.
Potarazu was remanded in custody on Wednesday and will have to forfeit several homes,