Prosecutors in Santa Clara County are charging a Morgan Hill man with multiple counts of fraud-related crimes after he allegedly befriended people only to swindle them.
Sayed Faquiryan, 45, is charged with grand theft, securities fraud, identity theft, passing bad checks and filing a false document, all with enhancements for white collar “excessive taking” for allegedly misappropriating more than $2.3 million from four people.
Prosecutors allege Faquiryan offered investment opportunities that never actually existed. He is accused of befriending people in the local Middle Eastern community to gain their trust before approaching them with fictional investment deals, like a gas station in Berkeley and car wash in Gilroy. His alleged victims transferred hundreds of thousands of dollars into his personal accounts, prosecutors said.
The thefts allegedly happened between January 2016 and December 2022.
“He never used any of the money for the stated purpose or returned the money when questioned,” said the district attorney’s office.
Prosecutors have also charged an alleged co-conspirator, Navid Azizian, 41, of Novato. Azizian has been charged with six counts of grand theft and enhancements for excessive taking.
Faquiryan was arraigned on Jan. 31 and is out on $250,000 bail, according to the district attorney’s office. His next court date is April 11.
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