Riverside County Securities Broker Named In Federal Indictment For Allegedly Participating In Stock Scheme Involving Shares Of VGTEL, Inc.
RIVERSIDE COUNTY SECURITIES BROKER NAMED IN FEDERAL INDICTMENT FOR ALLEGEDLY PARTICIPATING IN STOCK SCHEME INVOLVING SHARES OF VGTEL, INC. Sheik Firdosh Khan a/k/a Abida Khan a registered securities broker affiliated with Ameritas Investment Corp. between May 2002 and December 2013 was named in a federal indictment filed in the U.S. District Court for the Southern District of New York for participating in an investment scheme involving shares of VGTEL, Inc. (“VGTL”) stock. According to the indictment filed January 5, 2016, Khan and others solicited in excess of $10million from investors through false and misleading representations. Victims of the scheme include residents of Riverside County. Shares of other securities also solicited by Defendants in the scheme include Q Lotus Holdings, Inc., Haddad-Wylie Industries, LLC and Cassidy Ventures, Inc. In addition to the indictment, Khan has also on behalf of a company called Ashira Consulting, LLC filed a FINRA arbitration claim in September 2015 against COR Clearing, LLC, Christopher Cervino and Rafael Santiago seeking to recover total losses related to the VGTL scheme of $495,000. FINRA Arb.#15-02385. And in a further related matter, Ms Khan entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) for among other things engaging in private securities transactions and making untrue statements. See, In re: Sheik F. Abida Khan, FINRA AWC# 2015045211101 (Nov. 2015). ANYONE WHO HAS DONE BUSINESS WITH KHAN IS URGED TO CONTACT THE LAW FIRM OF RICHARD A. NERVIG, P.C. FOR A FREE CONSULTATION.800-837-0441