Fraud Charges Brought Against Vineet Kalucha and Aphelion Fund Management for Allegedly Providing Falsified Performance Reports to Investors

Vineet Kalucha, Aphelion Fund Management’s chief investment officer, fraudulently altered an outside firm’s report reviewing the performance of an investment account he managed, according to a complaint filed by the Securities and Exchange Commission (“SEC”).

The Peiffer Wolf law firm’s securities practice attorneys Jason Kane and Joe Peiffer are investigating the matter.

Kalucha’s falsifications essentially changed an investment loss into a major investment gain in the account, according to the complaint. The falsified report showing the false gain instead of the actual loss was provided to prospective investors, according to the complaint.

The fraudulent report distributed to investors showed an investment gain of 30-percent over an 18-month period in an account managed by Kalucha, however, the outside auditor’s report showed an investment loss of more than 3-percent during a 15-month period.

Kalucha also used investor proceeds for luxury car payments and used the proceeds to pay for settlements of legal actions brought against him that were unrelated to Aphelion, according to the SEC.

Kalucha also misled investors concerning the amount of assets Aphelion had under management, according to the complaint. Kalucha allegedly told investors that Aphelion had $15 million or more in assets under management in 2013, but the firm never managed more than $5 million in assets that year, according to the SEC.

The Peiffer Wolf attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting investors with the recovery of any losses they may have suffered in connection with Vineet Kalucha Aphelion Fund Management. 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 may have lost money as a result of their investment with Vineet Kalucha and Aphelion Fund Management may contact the securities lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.

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