{"id":3949,"date":"2016-11-16T17:56:02","date_gmt":"2016-11-16T23:56:02","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/?p=3949"},"modified":"2022-07-22T08:45:03","modified_gmt":"2022-07-22T13:45:03","slug":"securities-fraud-cfp-board-suspends-california-investment-adviser-bilking-professional-athletes-sec-orders-israeli-based-firm-pay-1-7m-misleading-investors-binary-options-ex-m","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cfp-board-suspends-california-investment-adviser-bilking-professional-athletes-sec-orders-israeli-based-firm-pay-1-7m-misleading-investors-binary-options-ex-m\/","title":{"rendered":"Securities Fraud: CFP Board Suspends California Investment Adviser for Bilking Professional Athletes, SEC Orders Israeli-Based Firm to Pay $1.7M for Misleading Investors About Binary Options, and Ex-Movie Producer is Accused of Bilking Hedge Fund Investors"},"content":{"rendered":"<p>\t\t\t\t<strong>Investment Adviser Who Bilked Pro Athletes Gets CFP Board Suspension<\/strong><br \/>\nThe Certified Financial Planner Board of Standards has issued a temporary suspension against Ash Narayan. The California-based investment adviser is accused of bilking professional athletes of millions of dollars.<\/p>\n<p>Narayan was recently named in a Securities and Exchange Commission complaint. In June, the regulator accused him of misrepresenting his professional qualifications and misappropriating client monies when he allegedly siphoned funds from investors\u2019 accounts and invested the money in Ticket Reserve, a flailing online sports and entertainment ticket business.<\/p>\n<p>Narayan is accused of moving \u00a0$33M of investor funds to the company and did not tell the athletes that he was a member of Ticket Reserve\u2019s board, owned stock in the company, and was paid a $2M in finder\u2019s fees for making the investments. The CFP Board called the investments \u201cunsuitable\u201d and not in line with clients\u2019 objectives. The board also noted that some of the investments were made without client consent or knowledge.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cfp-board-suspends-california-investment-adviser-bilking-professional-athletes-sec-orders-israeli-based-firm-pay-1-7m-misleading-investors-binary-options-ex-m\/#more-3949\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investment Adviser Who Bilked Pro Athletes Gets CFP Board Suspension The Certified Financial Planner Board of Standards has issued a temporary suspension against Ash Narayan. The California-based investment adviser is accused of bilking professional athletes of millions of dollars. Narayan was recently named in a Securities and Exchange Commission complaint. In June, the regulator accused [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781,3801,3760],"tags":[3707,3708,3709,2949],"class_list":["post-3949","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-sec","category-sec-enforcement","tag-binary-options","tag-certified-financial-planner-board-of-standards","tag-eztd-inc","tag-hedge-fund-fraud"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Fraud: CFP Board Suspends California Investment Adviser for Bilking Professional Athletes, SEC Orders Israeli-Based Firm to Pay $1.7M for Misleading Investors About Binary Options, and Ex-Movie Producer is Accused of Bilking Hedge Fund Investors &#8212; Investor Lawyers Blog &#8212; November 16, 2016<\/title>\n<meta name=\"description\" content=\"Investment Adviser Who Bilked Pro Athletes Gets CFP Board Suspension The Certified Financial Planner Board of Standards has issued a temporary suspension &#8212; November 16, 2016\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-fraud-cfp-board-suspends-california-investment-adviser-bilking-professional-athletes-sec-orders-israeli-based-firm-pay-1-7m-misleading-investors-binary-options-ex-m\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Fraud: CFP Board Suspends California Investment Adviser for Bilking Professional Athletes, SEC Orders Israeli-Based Firm to Pay $1.7M for Misleading Investors About Binary Options, and Ex-Movie Producer is Accused of Bilking Hedge Fund Investors &#8212; 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