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Salman Shariff is wanted for allegedly perpetuating a scheme to defraud approximately 350 investors out of over 10 million dollars, while owning and operating a financial corporation in Miami, Florida. Between December of 1996 and June of 2001, Shariff allegedly operated a "ponzi" scheme wherein he made false promises of annual returns in excess of 80%, utilizing a "conservative stock/stock options investment strategy" while paying out purported monthly earnings. Shariff is alleged to have lost approximately one million dollars in investors' funds in trading, published false monthly/annual returns, and ceased trading entirely by late 2000 despite continuing to receive new investor funds until his disappearance in June of 2001. Approximately two million dollars in investors' funds were misappropriated with the purchase of luxury items, including a yacht and several automobiles. On March 6, 2003, a Federal Grand Jury in Miami, Florida, returned a 43-count indictment for mail fraud, wire fraud, securities fraud, and money laundering against Shariff. That same day, a United States Magistrate Judge, Southern District of Florida, issued a federal warrant for Shariff's arrest. The FBI is offering a reward for information leading to the arrest of Salman Shariff. IF YOU HAVE ANY INFORMATION CONCERNING THIS PERSON, PLEASE CONTACT YOUR LOCAL FBI OFFICE OR THE NEAREST AMERICAN EMBASSY OR CONSULATE. |
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