If you suffered losses investing with Peter Kohli and DMS Advisors, The White Law Group may be able to help.
The Securities and Exchange Commission has issued an emergency asset freeze against a former Pennsylvania stockbroker Peter Kohli for defrauding investors in his failing mutual fund business.
The SEC alleges Kohli fraudulently raised more than $3.2 million from at least 120 investors from 2012 through last year. At the time Mr. Kohli was acting as president and chief executive officer of broker-dealer and investment adviser, DMS Advisors.
The DMS Funds series consisted of four emerging-market mutual funds. Kohli allegedly overstated their sophistication while ignoring the risk that he and his firm would not be able to pay its expenses. As the funds neared collapse, he stole money from investors, according to the SEC’s complaint.
Mr. Kohli then sold Marshad Capital promissory notes in a “desperate attempt to raise money to cover fund expenses and to delay the inevitable,” according to the SEC’s complaint. He also sold warrants in the holding company, which he controlled, falsely telling investors that Marshad had taken steps toward an initial public offering, the SEC alleged.
Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Kohli violated FINRA rules and his employers failed to adequately supervise him, these firms can be held responsible for any resulting losses in a FINRA arbitration claim. The White Law Group is investigating the liability that Kohli’s former employers may have for losses sustained by his clients.
The foregoing information is being provided by The White Law Group. The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.
For more information on the firm and it’s representation of investors, visit http://www.whitesecuritieslaw.com.
For a free consultation with a securities attorney, please call the firm at 1-888-637-5510.
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