"We allege that Mr. Arbab used his college affiliations to operate a Ponzi scheme that drained valuable resources from current and former students. This is a reminder that investors of all ages and experience levels—whether long-time investors or recent graduates investing funds from their first few paychecks—should carefully research investment opportunities and the people offering them," said Richard R. Best, regional director of the SEC’s Atlanta office. "To learn more, investors can find an overview of Ponzi scheme red flags on the SEC’s Investor.gov website.”