A Morgan Hill man has been charged with swindling people with promises of lucrative investments into businesses and real estate that turned out to be fake, prosecutors said Wednesday.
The Santa Clara County District Attorney’s Office said Sayed Tamim Faquiryan, 45, befriended his victims in the Middle Eastern community before offering them opportunities to invest in a gas station, a car wash, or in other real estate investments. However, no such investments existed, the DA’s Office said.
According to a press statement issued by the DA’s Office, Faquiryan convinced four people to transfer hundreds of thousands of dollars to his personal accounts, but never used any of the money to invest or returned the money when questioned.
The alleged thefts happened between January 2016 and December 2022. Farquiryan was arraigned on Jan. 31 and faces charges of grand theft, securities fraud, identity theft, passing fraudulent checks, filing a false document, along with white collar excessive taking enhancements.