Mark Malik , 33 , stole $ 850,000 from 16 foreign and domestic investors starting in 2011 , says an SEC complaint released on Friday . The alleged scheme involved a series of fraudulent transactions that were allegedly made to disguise the source of funds for the fraud.
Mark Malik , 33 , stole $ 850,000 from 16 foreign and domestic investors starting in 2011 , says an SEC complaint released on Friday . Malik is being held on $ 1 million bail in the Manhattan detention center known as the Tombs . Malik has pleaded not guilty to securities fraud and could face up to 20 years in prison if convicted . Malik allegedly faked his own death after investors reported him to the SEC .