What Did Your Brokerage Firm or Investment Adviser Do Wrong With GWG
Published On: October 7, 2016

The Securities and Exchange Commission (SEC) recently charged former broker, Peter Kohli, for defrauding investors in his failing mutual fund business. The SEC issued an emergency asset freeze against him last week. Kohli allegedly raised more than $3.2 million from at least 120 investors from 2012 until last year. At the time, he was the acting president and chief executive officer of dually-registered broker-dealer and investment adviser, DMS Advisors. Mr. Kohli began DMS in 2012 and it consisted of four emerging-market mutual funds. He allegedly overstated their sophistication and did not disclose their risk. The funds began to collapse, and Mr. Kohli stole funds from the investors by engaging in three frauds to keep the funds afloat. He did this by allegedly misappropriating money solicited to invest in one of the funds. According to the SEC, he then sold promissory notes in a “desperate attempt to raise money to cover expenses and to delay the collapse of the fund.” He also sold warrants in the holding company that he controlled, and told investors it was nearing an initial public offering (IPO), which was false.

According to his online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Kohli was registered with Pennsylvania Securities Company form December 1982 until October 1983, MML Investors Services in Springfield, Massachusetts from September 1998 until March 2000, ING Financial Partners in Des Moines, Iowa from March 2004 until September 2005, Equitas America in Wyomissing, Pennsylvania from October 2005 until July 2010 and Trustmont Financial Group in Leesport, Pennsylvania from July 2010 until May 2015. He is not currently registered with any member firm and has one customer dispute against him and one civil suit which is pending.

Please call our law offices based in Chicago, Illinois today at 312-332-4200 if you suffered losses with Mr. Kohli. We may be able to help you bring a suit against his former firm, Trustmont Financial Group, for failing to properly supervise him. The call to us is free with no obligation. We help investors recover their losses in the arbitration forum on a contingency fee basis.

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