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Naveed Khan Pled Guilty To One Count Of Securities Fraud

By June 25, 2019 No Comments

Naveed Khan was a New York based securities broker. He worked in the securities industry for thirteen years. During his career, he was registered with eight different securities firms.

His registrations included; Continental Broker-Dealer Corp. (2003-2004), Ladenburg, Thalman & Co. (2003), National Securities Corporation (2004), J.P. Turner & Company (2004-2006), Great Eastern Securities (2006-2007), Meyers Associates (2007-2009, 2013-2016), JHS Capital Advisors (2009-2010), and Obsidian Financial Group (2011-2013). He is no longer working as a registered securities broker in any fashion.

Naveed Khan’s publicly available FINRA BrokerCheck report shows that he has received multiple customer complaints over the course of his career.

In January 2011, customers alleged that Khan excessively traded their account on margin and in unsuitable investments. These alleged transgressions would have taken place between February 2007 and March 2008. This case was settled for $75,000 in damages.

In July 2016, Naveed Khan pled guilty to one count of securities fraud. This was due to allegations that he perpetrated an investment scheme designed to trick investors into buying shares of a particular company that he as chairman of the board. Khan allegedly bribed both registered and unregistered brokers to solicit investors to purchase stock in this company. Khan was barred by the Securities and Exchange Commission from acting as a securities broker in any fashion.

In April 2017, a customer alleged excessive trading and unsuitability. This case was settled for $88,671 in damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Naveed Khan, please contact Oakes & Fosher for a free and private consultation.