Christopher Cervino & Sheik F. Kahn Allegedly Took Part in a $15 Million Pump-and-dump Stock Fraud Which Purportedly Involved over 100 Investors; Cervino and Kahn Allegedly Inflated the Market for VGTel, Inc.
Christopher Cervino & Sheik Kahn allegedly orchestrated a $15 million pump-and-dump stock fraud scheme which purportedly involved over 100 investors, according to a Release from the office of the U.S. Attorney for the Southern District of New York an FBI Affidavit currently under review by attorneys Alan Rosca and James Booker.
Peiffer Rosca Wolf securities practice lawyers are investigating investment recovery options on behalf of investors in issues related to Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme.
Investors who believe they may have lost money in activity related to Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme are encouraged to contact attorneys Alan Rosca or James Booker with any useful information or for a free, no obligation discussion about their options.
Christopher Cervino, a broker from Franklin Lakes, New Jersey associated with Primary Capital in New York, and Sheik Kahn, a registered rep from Las Vegas, Nevada, were found guilty by a federal court in New York, said Release states.
Christopher Cervino & Sheik Kahn allegedly made moves to inflate the market for VGTel, Inc., a publicly traded over-the-counter company, according to the aforementioned Release from the office of the U.S. Attorney for the Southern District of New York.
Christopher Cervino & Sheik Kahn allegedly pumped up the price of the stock from about $.25 per share in April of 2012 to as high as about $1.90, said Release notes.
What is more, Christopher Cervino & Sheik Kahn allegedly also took steps to inflate trading volume which improved their ability to raise private investments in the stock, said Release states.
The Peiffer Rosca Wolf securities lawyers are currently investigating Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme.
Christopher Cervino & Sheik Kahn Barred from the Securities Industry by FINRA for Allegedly Inflating the Market for VGTel, Inc., a Publicly Traded Over-the-counter Company
Christopher Cervino and Sheik Kahn were barred from the securities industry by FINRA for allegedly inflating the market for VGTel, Inc., a publicly-traded over-the-counter company, according to the aforementioned Release from the office of the U.S. Attorney for the Southern District of New York presently being reviewed by attorneys Alan Rosca and James Booker.
Edward Durante, who pleaded guilty in August 2016 to a slate of crimes relating to VGTel, which included conspiracy, securities fraud, money laundering and perjury, allegedly conceived the purportedly fraudulent scheme, said Release notes.
Mr. Durante allegedly contributed two cash payments toward Mr. Cervino which added up to $35,000, plus large commissions Mr. Cervino took for executing trades in VGTel stock, the Release states.
Sheik Kahn, during said transactions, allegedly received over $400,000 from Durante, which included over $100,000 in payments for purportedly liquidating clients’ investments in the form of annuities, said Release notes.
Said proceeds were then allegedly allowed to be invested in VGTel shares and Khan’s clients allegedly lost almost all monies invested in said shares, the Release reports.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of investment fraud and are currently investigating Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Christopher Cervino & Sheik Kahn’s alleged pump-and-dump stock fraud scheme may contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520 or via e-mail at arosca@prwlegal.com or jbooker@prwlegal.com.
from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/2nvDdfe
via Securitieslitigatos.com
No comments:
Post a Comment