Former UBS Broker Pleads Guilty to $1 Million Securities Fraud

Posted on March 24th, 2015 at 11:34 AM
Former UBS Broker Pleads Guilty to $1 Million Securities Fraud

From the Desk of Jim Eccleston at Eccleston Law LLC:

Khawaja Saud Masud, a former UBS broker from New Jersey pled guilty for stealing over $1 million from a retired pediatrician and his wife by fraudulently soliciting them to invest in his purported hedge fund, RKS Capital, LP.

In 2012, Masud allegedly solicited Dr. Kalim Irfani, a 75-year old retired pediatrician, and his wife, Rehana Irfani, to invest their retirement monies in RKS Capital, LP, which Masud had created just two weeks earlier. Masud falsely represented that the hedge fund was a far safer investment than a mutual fund and also allegedly promised to use a conservative strategy that would preserve their $1 million investment, while earning a high rate of return.  Based on his promises, the Irfanis allegedly invested over $1 million to Masud. Maused lost almost $1 million of the Irfanis’ investment in less than three months. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: UBS, New Jersey, RKS Capital, James Eccleston, Eccleston Law

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