Idin Dalpour has been charged with wire fraud in connection with an alleged multi-year Ponzi scheme that defrauded investors of $43 million or more, according to an unsealed indictment from the United States Attorney's Office for the Southern District of New York.

Dalpour was arrested yesterday morning and is scheduled to appear in Manhattan federal court before U.S. Magistrate Judge Barbara Moses later in the day.

“Idin Dalpour told investors that they could reap huge returns by investing through him in a purported Las Vegas hospitality business and a crypto trading operation," said Damian Williams, U.S. Attorney for the SDNY.

"As alleged, Dalpour’s promises were a mirage, and he was running a classic Ponzi scheme by paying investors purported returns with other investors’ money," he …