The owner of several Boston-based investment companies was arrested Sunday at Logan Airport on charges of operating a Ponzi-like fraud scheme.

Tanmaya Kabra, 25, of Weehawken, New Jersey, was charged with wire fraud and bank fraud in a criminal complaint unsealed Monday.

According to prosecutors, Kabra conducted business through a company called LaunchByte.IO LLC and several affiliated companies. He held himself out to investors as a successful serial entrepreneur, venture capitalist and angel investor in startup companies. Offering lucrative and low or no-risk returns on investments, Kabra allegedly lured investors with representations that their funds would be used to foster the growth and development of startup companies, to prepare those companies for sale or for other legitimate business opportunities. In reality, Kabra used the money that he received from investors to pay off existing debts to prior investors in his scheme and to fund his lavish personal expenses.

A statement from prosecutors did not detail how much money Kabra is accused of misusing.