Ash Narayan—Investment Fraud
Ash Narayan Allegedly Ran a Million Dollar Investment Scheme Defrauding Pro Athletes; Narayan also Allegedly Siphoned Client Money and Sank it into The Ticket Reserve Inc., a Floundering Online Sports Book
Ash Narayan, of Newport Coast, California, allegedly ran a million dollar investment scheme wherein he allegedly defrauded pro athletes, according to a recent SEC Complaint currently under review by attorneys Joe Peiffer and James Booker.
Narayan also allegedly used said siphoned client money and put it into the Ticket Reserve Inc., a floundering online sports book, according to said Complaint. The Complaint also alleges that Narayan allegedly failed to disclose to investors that he was a member of The Ticket Reserve’s board of directors.
The Peiffer Wolf securities lawyers are currently investigating Ash Narayan’s alleged investment fraud scheme involving pro athletes.
Ash Narayan Allegedly Transferred $33 Million from Client Accounts to the Ticket Reserve; The Ticket Reserve Allegedly made Ponzi-like payments from New Investors to Clients who Had Paid in Earlier
Ash Narayan, formerly of RGT Capital, allegedly transferred more than $33 million from client accounts to The Ticket Reserve, and usually sans client knowledge or consent and purportedly occasionally with forger signatures, according to the aforementioned Complaint being examined by attorneys Joe Peiffer and James Booker.
The SEC Complaint further alleges that the Ticket Reserve fell into a trap wherein it allegedly relied on cash bursts from Narayan’s unsuspecting clients simply in order to stay in business and that Narayan allegedly took in almost $2 million in clandestine compensation.
Finally, the SEC Complaint alleges that the Ticket Reserve made Ponzi-like payments from new investors to earlier clients, and that Narayan and the Ticket Reserve allegedly violated antifraud provisions of the federal securities laws and a related SEC antifraud rule, and the SEC is looking for disgorgement of ill-gotten gains plus interest and penalties.
Securities Lawyers Investigating
The Peiffer Wolf securities lawyers often represent investors who lose money as a result of alleged unsuitable broker activity, and are currently investigating Ash Narayan’s million dollar investment scheme wherein he allegedly defrauded pro athletes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Ash Narayan’s million dollar investment scheme wherein he allegedly defrauded pro athletes are encouraged to contact the securities lawyers at the Cleveland office of Peiffer Wolf, Joe Peiffer or James Booker, for a free no-obligation evaluation of their recovery options, at 504-523-2434.