Update For Investors: Sheik Khan Barred From the Industry

AdobeStock_91053286-1-300x194According to records with the Financial Industry Regulatory Authority (FINRA), on August 8, 2017, California-based Ameritas Investment Corp broker Sheik Khan was sanctioned by the Securities and Exchange Commission (SEC) and barred from the industry or otherwise associating with firms that sell securities to the public. Khan was found guilty by a jury in April 2017 of “committing securities and investment adviser fraud, by, among other things, falsely telling prospective investors that their investments in private offerings of VGTL would benefit from prospective reverse-mergers between VGTL and private companies even though no merger would ever be consummated, scheming to control and manipulate the publicly traded price of VGTL stock, scheming to induce investors to invest in private shares of VGTL through false and misleading statements, and causing her clients to invest in VGTL, including clients who had not authorized such an investment, in exchange for receiving kickback payments that were not disclosed to those clients.” She was also accused of failing in supervisory duties, breaching fiduciary duty, violating FINRA rules, making unsuitable recommendations, committing fraud, misrepresenting and omitting material facts and committing financial elder abuse. She also allegedly failed to provide written notice of three outside business activities. All of these things are against securities laws.
Khan was previously registered with Pruco Securities in Newark, New Jersey from February 1994 until June 2002 and Ameritas Investment Corp in Murrieta, California from May 2002 until December 2013. She has one customer dispute pending against her and one criminal pending charge against her. She has been barred from the industry. If you suffered losses with Ms. Khan, please call 312-332-4200 today for a no-cost, no-obligation consultation with one of our Chicago-based attorneys. We may be able to sue Ameritas on a contingency fee basis in the FINRA arbitration forum.

FOX Business
The Wall Street Journal
FOX News Channel
USA Today
abc NEWS
Contact Information