Solomon Lichtenstein, a 30-year-old investment banker, has pleaded guilty to securities fraud in a scheme to defraud investors in two investment vehicles he managed and promoted over $3 million over two years from 2022 to 2024. The scheme involved false statements and misrepresentations regarding Lichtenenstein's investment qualifications and strategy, track record, and returns. He also defrauded dozens of investors and used around $1 million in investor funds for personal use. The U.S. Attorney for the Southern District of New York, Jay Clayton, praised the Federal Bureau of Investigation and the Securities and Exchange Commission for their assistance in the investigation.