An Indian entrepreneur was imprisoned in the US for supposedly cheating investors of about USD 2.4 million and could face up to 20 years in prison.

Janamjot Singh Sodhi, 35 of California was arrested on a warrant issued earlier this week for the investment fraud scheme, An US Attorney Benjamin Wagner said,According to the complaint, Sodhi owned Elite Financial Inc and enticed investors into giving him money for investment opportunities, but used the money instead to pay off previous investors and for his own personal use.

Since 2005, Sodhi's license to sell investments had been revoked and in January 2009, California issued a cease and desist order against him and Elite Financial from selling securities to investors.

It is alleged that Sodhi defrauded investors of USD 2.4 million.If convicted, Sodhi faces a maximum penalty of 20 years in prison and a USD 250,000 fine. gainst the Mauritanian military.He was imprisonedd in the suburbs of Quetta in Pakistan early last week.