Cary, N.C.: A former Chapel Hill transportation engineer was arrested Tuesday on 23 charges tied to an investment scam known as a “Ponzi scheme,” according to the U.S. Department of Justice.
Kumar Arun Neppalli, 56, of Cary, is charged with 17 counts of wire fraud and six counts of conducting transactions in criminally derived property, according to a news release. He is expected to go to trial later this year and could face up to 20 years in prison, if convicted.
Neppalli, who was hired in 2000 as Chapel Hill’s traffic engineer, abruptly resigned as the town’s traffic engineering manager on Nov. 1, 2021, after filing for Chapter 7 bankruptcy that October. Neppalli, a native of India, was accused of milking 15 investors out of $1.9 million in business loans that he acquired through his connections with the Triangle’s Indian community.