{"id":4795,"date":"2017-10-13T12:30:36","date_gmt":"2017-10-13T17:30:36","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4643"},"modified":"2022-03-22T14:43:33","modified_gmt":"2022-03-22T19:43:33","slug":"sec-charges-investment-adviser-defrauding-seniors-friends","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/sec-charges-investment-adviser-defrauding-seniors-friends\/","title":{"rendered":"SEC Charges Investment Adviser With Defrauding Seniors Who Were His Friends"},"content":{"rendered":"

\t\t\t\tThe US Securities and Exchange Commission has filed charges against investment adviser Tarek D. Bahgat for allegedly stealing $378K from clients. Bahgat is accused of misappropriating funds from seven investment advisory clients, most of whom were elderly investors. <\/p>\n

According to the regulator, from December 2014 through September 2016, Bahgat, using the alias Terry Dean Bahgat, misappropriated the clients\u2019 funds online and transferred the money to his own account and that of WealthCFO, which was the payroll and accounting company that he controlled. FINRA\u2019s BrokerCheck database shows that Bahgat was working for two brokerage firms: Cambridge Investment Research and Gradient Securities. After exiting Gradient, he was a state-registered advisor and used the name WealthCFO Partners. <\/p>\n

The SEC\u2019s complaint claims that Bahgat would sometimes obtain the internet bill-paying privileges in some client accounts by pretending to be the client or having his assistant, Lauramarie Colangelo, pose as the client during phone calls with the brokerage firms that held the accounts. Colangelo was the operations manager of WealthCFO. <\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Securities and Exchange Commission has filed charges against investment adviser Tarek D. Bahgat for allegedly stealing $378K from clients. Bahgat is accused of misappropriating funds from seven investment advisory clients, most of whom were elderly investors. According to the regulator, from December 2014 through September 2016, Bahgat, using the alias Terry Dean Bahgat, […]<\/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":[3781,3760,3741,3803],"tags":[],"class_list":["post-4795","post","type-post","status-publish","format-standard","hentry","category-investment-advisers","category-sec-enforcement","category-securities-fraud","category-senior-investors"],"yoast_head":"\nSEC Charges Investment Adviser With Defrauding Seniors Who Were His Friends — Investor Lawyers Blog — October 13, 2017<\/title>\n<meta name=\"description\" content=\"The US Securities and Exchange Commission has filed charges against investment adviser Tarek D. Bahgat for allegedly stealing $378K from clients. 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