SEC Bars California Advisor For Defrauding Pro Athletes

Posted on January 19th, 2017 at 8:55 AM
SEC Bars California Advisor For Defrauding Pro Athletes

From the Desk of Jim Eccleston at Eccleston Law LLC:

Former financial advisor Ash Narayan, who was the managing director of the Irvine, California, office of RGT Wealth Advisors, has agreed to accept an industry bar.  According to the SEC complaint, Mr. Narayan secretly received nearly $2 million from a company he used as an investment for his professional athlete clients from 2010 until early 2016.  During that time period, Mr. Narayan directed $33 million to a company he was directly associated with and knew was in financial trouble. Mr. Narayan neither admitted nor denied the allegations in agreeing to the industry bar.

In addition, according to the SEC, Mr. Narayan also placed clients in other unsuitable private investments and misrepresented to them that he was a certified public accountant.

RGT Wealth Advisors terminated Mr. Narayan last year.  Mr. Narayan has worked at RGT Wealth Advisors since 1997. 

The attorneys of Eccleston Law LLC represent investors and advisers nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of securities for financial advisors including Employment MattersTransition Contract ReviewState Licensing and RegistrationFINRA Defense, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.  

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, Eccleston Law LLC, James Eccleston, SEC, Ash Narayan, managing director, RGT Wealth Advisors, industry bar, investment. unsuitable private investments, misrepresented, certified public accountant, terminated,

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