New York: An Indian-American man has been indicted on charges of perpetrating an investment fraud scheme in which he allegedly told investors that their money would be used to fund research and develop prototype spacecraft and space-related propulsion systems but instead used it for personal expenses.

Ramesh Kris Nathan, 37, a US national whose last known address is in Chennai, India was indicted on charges related to the alleged investment fraud scheme, announced United States Attorney David Anderson and Federal Bureau of Investigation Special Agent in Charge John Bennett.