According to AdvisorHub, former broker Dean Mustaphalli is facing 99 counts of criminal charges. He allegedly forged signatures on account documents, submitted fake email addresses and misled investors about the nature of a hedge fund whose value at one point tanked 80%. Dean Mustaphalli is facing criminal charges on 99 counts over the $5 million fraud scheme. The criminal indictment, which cover alleged misconduct from June 2014 until March 2017, comes almost a year after the Attorney General’s office filed a separate civil lawsuit against him. He allegedly solicited elderly clients, some of whom he had served while a registered broker, and invested their money into a hedge fund that he opened: Mustphalli Capital Partners Fund.
Dean Mustaphalli was previously registered with Citigroup Global Markets in Jamaica, New York from May 2007 until December 2009, and Sterne Agee Financial Services in Forest Hills, New York from December 2009 until September 2011. He has customer disputes against him, and one regulatory matter, according to his online, FINRA BrokerCheck report.
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