Recovery of Investment Losses with Nick Khan
Have you suffered losses investing with Nick Kahn and ForceField Energy? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.
The Securities and Exchange Commission (SEC) announced fraud charges in May against 10 individuals, one of them being Nick Khan, allegedly involved in schemes to trick investors into buying shares of ForceField Energy Inc. stock. The schemes were allegedly fraught with cash bribes and other kickbacks to registered representatives and unregistered brokers who solicited investors to buy stock in the company.
The SEC alleges that investors were unaware those soliciting them were being paid by a ringleader -the company’s then-chairman of the board- to steer them to the stock, and that some of the perpetrators attempted to evade law enforcement by going so far as to communicate with prepaid disposable “burner” phones and encrypted, content-expiring text messages. Khan allegedly received cash bribes from other defendants. The complaint charges Khan with violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder.
Securities Fraud Charges
According to reports, Nick Khan recently pleaded guilty in Brooklyn federal court to securities fraud. Khan faces up to 20 years in prison, a fine, restitution and criminal forfeiture when sentenced in Brooklyn federal court for securities fraud.
According to FINRA BrokerCheck, Naveed (Nick) Kahn was employed with Meyers Associates, in Staten Island, NY from 04/2013 – 05/2016.
The White Law Group is investigating the liability that Kahn’s employers may have for losses sustained by his clients. Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Khan violated FINRA rules and his employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.
For a free consultation with a securities attorney, please call The White Law Group at 888-637-5510.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit https://www.whitesecuritieslaw.com.