{"id":6208,"date":"2018-04-18T20:49:15","date_gmt":"2018-04-18T20:49:15","guid":{"rendered":"https:\/\/www.investorlawyers.com\/?p=6208"},"modified":"2021-02-10T22:52:05","modified_gmt":"2021-02-11T04:52:05","slug":"investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/","title":{"rendered":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors, Including Friends and Family"},"content":{"rendered":"<p>\t\t\t\tThe US Securities and Exchange Commission has filed fraud charges against investment adviser Amrit J.S. Chahal, who founded Kane Capital Investment Group, LLC. Chahal is accused of using his company to solicit about $1.4M from about 50 people, some of them friends and family members. Now, the regulator wants a permanent injunction, penalties, and disgorgement.<\/p>\n<p>According to the SEC\u2019s\u00a0<a href=\"https:\/\/www.investorlawyers.com\/\">securities fraud<\/a> complaint, from at least 2\/2015, the investment advisor targeted prospective investors by telling them he was a seasoned trader who could make clients \u201cabove-market returns\u201d by employing a trading strategy whose risks were low. In truth, contends the Commission, Chahal had no previous substantive experience in the securities industry or in trading securities for others.<\/p>\n<p>Investors gave Chahal their money with the understanding that he would use the funds to buy and sell futures, options, and commodities. He told them they would have to pay a $2.5% yearly fee and a performance-based fee that was 10% of an investor\u2019s returns that went beyond a yearly 30% return rate. Chahal also falsely claimed that Kane Capital employed the most current software to help it garner the \u201chighest possible profit\u201d from every investment, with a focus on choosing investments that were high-yield and low-risk. In truth, said the Commission, the accused investment advisor \u201ctraded risky options and margins,\u201d as well as sold and purchased commodities and futures.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/\"  title=\"Continue Reading Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors, Including Friends and Family\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The US Securities and Exchange Commission has filed fraud charges against investment adviser Amrit J.S. Chahal, who founded Kane Capital Investment Group, LLC. Chahal is accused of using his company to solicit about $1.4M from about 50 people, some of them friends and family members. Now, the regulator wants a permanent injunction, penalties, and disgorgement. [&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":[3738,3792,3801,3760,3741],"tags":[2872,3043],"class_list":["post-6208","post","type-post","status-publish","format-standard","hentry","category-investor-fraud","category-ponzi-scams","category-sec","category-sec-enforcement","category-securities-fraud","tag-ponzi-scam","tag-ponzi-scheme"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"The US SEC has filed fraud charges against investment adviser Amrit J.S. Chahal for using his company to solicit about $1.4M from about 50 people.\" \/>\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\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"The US SEC has filed fraud charges against investment adviser Amrit J.S. Chahal for using his company to solicit about $1.4M from about 50 people.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors &#8212; Investor Lawyers Blog","description":"The US SEC has filed fraud charges against investment adviser Amrit J.S. Chahal for using his company to solicit about $1.4M from about 50 people.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/","twitter_card":"summary_large_image","twitter_title":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors &#8212; Investor Lawyers Blog","twitter_description":"The US SEC has filed fraud charges against investment adviser Amrit J.S. Chahal for using his company to solicit about $1.4M from about 50 people.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors, Including Friends and Family","datePublished":"2018-04-18T20:49:15+00:00","dateModified":"2021-02-11T04:52:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/"},"wordCount":637,"keywords":["Ponzi Scam","Ponzi Scheme"],"articleSection":["Investor Fraud","Ponzi Scams","SEC","SEC Enforcement","Securities Fraud"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/","url":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/","name":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors &#8212; Investor Lawyers Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2018-04-18T20:49:15+00:00","dateModified":"2021-02-11T04:52:05+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The US SEC has filed fraud charges against investment adviser Amrit J.S. Chahal for using his company to solicit about $1.4M from about 50 people.","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/investment-adviser-is-accused-of-ponzi-like-scam-involving-50-investors-including-friends-and-family\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Investment Adviser is Accused of \u201cPonzi-Like\u201d Scam Involving 50 Investors, Including Friends and Family"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1C8","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=6208"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6208\/revisions"}],"predecessor-version":[{"id":19545,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/6208\/revisions\/19545"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=6208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=6208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=6208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}