Publicly available records published by the Financial Industry Regulatory Authority (FINRA) on August 8, 2017 indicate that former California-based Ameritas Investment Corporation broker Sheik Khan has been sanctioned by the Securities and Exchange Commission (SEC) and barred from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. Khan (CRD# 2448117).
Sheik Khan has spent 18 years in the securities industry and was most recently registered with Ameritas Investment Corporation in Murrieta, California (2002-2013). She was previously registered with Pruco Securities Corporation in Newark, New Jersey (1994-2002). She is currently not registered with any state or firm.
According to his BrokerCheck report, she has received two regulatory sanctions and one pending customer complaint.
In April 2017 the SEC sanctioned Sheik Khan following allegations a jury returned a verdict finding her guilty of violations of US Code, including charges that: “Khan committed 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 to inflate the price and increase the trading volume 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 indefinitely barred from acting as a broker or investment adviser or otherwise associating with firms that sell securities or provide investment advice to the public.
In 2016 a party of customers alleged Sheik Khan, while employed at Ameritas Investment Corporation, failed in her supervisory duties, breached her fiduciary duty, violated FINRA rules, made unsuitable recommendations, committed fraud, misrepresented and omitted material facts, and committed financial elder abuse. The customers are seeing $3,915,277 in damages in the pending complaint.
In 2015 FINRA sanctioned her following allegations, among others, that she “failed to provide written notice of three outside business activities to her member firm.” She was issued a four-month suspension.
If you have complaints regarding Sheik Khan, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. All cases are taken on contingency: we only receive payment if and when you recover money. You may have a limited window to file your complaint, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.