(Reuters) - U.S. prosecutors on Wednesday said the chief executive of Longfin Corp has been indicted for allegedly orchestrating an accounting scheme to defraud investors and others by recognizing more than $66 million of fake revenue.
Venkata Meenavalli, 49, of India, was charged with securities fraud, according to U.S. Attorney Craig Carpenito in New Jersey. The U.S. Securities and Exchange Commission filed a new, related civil fraud action against Meenavalli and Longfin, Carpenito said.