New Jersey Man, Tanmaya Kabra, Arrested for Investment Fraud Scheme

New Jersey Man, Tanmaya Kabra, Arrested for Investment Fraud Scheme

BOSTON, MA (STL.News)  – The owner of several Boston-based investment companies was arrested Sunday at Logan Airport on charges of operating a Ponzi-like fraud scheme.

Tanmaya Kabra, 25, who resided most recently in Weehawken, N.J., was charged in a criminal complaint unsealed today with wire fraud and bank fraud.

According to the criminal complaint, Kabra conducted business through a company called LaunchByte.IO LLC and several affiliated companies.  He held himself out to investors as a successful serial entrepreneur, venture capitalist, and angel investor in start-up companies. 

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