WOODLAND HILLS- On Tuesday, May 18, the Los Angeles Police Department (LAPD) announced that Shehzad Peermahomed, of Woodland Hills, has been arrested on a Felony Arrest Warrant for Grand Theft.
It is alleged that Peermahomed stole money from nine victims, most of which were senior citizens. Peermahomed misled the victims to believe they were investing in real estate from which they were to receive a monthly interest payment. The victims used their retirement savings to invest in this Ponzi scheme with a total loss of $2,852,000.
A total of 25 felony counts have been filed against Peermahomed. Thus far nine victims have been identified. However, investigators believe there are additional victims.
Anyone with information can contact Detective Tyrone Jones, Commercial Crimes Division, at (213) 486-6630 or e-mail him at email@example.com.