Bay Area/ San Jose/ Crime & Emergencies
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Published on February 15, 2024
Morgan Hill Man Suspected of Defrauding Middle Eastern Community in $2.3M Investment SchemeSource: Google Street View

A Morgan Hill man is facing a slew of charges after allegedly swindling over $2.3 million from members of the Middle Eastern community through elaborate investment schemes that turned out to be phantoms. Sayed Tamim Faquiryan, 45, stands accused of grand theft, securities fraud, identity theft, passing fraudulent checks, and filing a false document, among other charges. On Jan. 31, Faquiryan was arraigned and subsequently released on $250,000 bail pending his trial, which is awaiting a court date on April 11, the Santa Clara County District Attorney's Office reported.

Faquiryan reportedly preyed on trust, reeling in victims with promising talk of nonexistent investments in gas stations, car washes, and other real estate ventures. According to the DA's statement, Faquiryan would convince his victims to transfer large sums to his personal accounts, but none of the funds found their way into actual investments. The fraudulent activities stretch from January 2016 through December 2022.

District Attorney Jeff Rosen emphasized the gravity of financial crimes within the community. "Our community should be safe from financial predators and financial predators should know they are not safe in our community," DA Rosen said, commending the thorough investigation of his DA Investigators that uncovered the deceit.

Another man, Navid Azizian, 41, from Novato, has been tagged as a co-conspirator, charged with six counts of grand theft and an excessive taking enhancement for his part in the scam that victimized at least one person. Both men are expected to enter pleas in April. Anyone with additional information on the case is urged to contact Investigator Justin DeOliveira at 408-792-2420 or via email at [email protected], the DA's office announced.