A federal judge in Athens has issued an injunction freezing the bank accounts of a newly-minted University of Georgia graduate accused of running a Ponzi scheme out of his fraternity house, according to federal court papers.

District Judge Clay Land’s June 4 order also froze bank accounts associated with what the U.S. Securities and Exchange Commission claims were two bogus hedge funds created by Syed Arbab, 22, that allowed him to defraud friends, fellow students and alumni of nearly $270,000.

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