Loudoun Co. man charged in yearslong $20 million investment scam

Prosecutors announced the indictment of an Aldie, Virginia, man for his alleged part in a multiyear lending scam that defrauded dozens of investors in Maryland, Virginia and other jurisdictions.

A federal grand jury indicted 46-year-old Babu Ramaraj on charges of wire fraud and unlawful monetary transactions in late June, according to a news release from the U.S. Attorney’s Office for the Eastern District of Virginia.

Ramaraj and his wife own DAB Inspection and Consulting Services...