Fuad Ahmed and Success Trade Securities—Securities Fraud
Fuad Ahmed and Success Trade Securities Allegedly Engaged in Securities Fraud and Sold Unregistered Securities without the Benefit of an Exemption
Fuad Ahmed and Success Trade Securities allegedly engaged in securities fraud and sold unregistered securities without the benefit of an exemption, according to a FINRA Complaint currently under review by attorneys Jason Kane and Joe Peiffer.
STS is a “deep discount online broker-dealer” and operates under the names of just2Trade.com and LowTrades.com, according to the Complaint. STS was incorporated in DC but also operates from a branch office in McLean, Virginia.
Fuad Ahmed and Success Trade Securities Alleged Four-year $19.4 Million Fraud Scheme Involving 65 Investors, 59 of Whom Allegedly Incurred Losses Totaling $13.7 Million
Fuad Ahmed and Success Trade Securities allegedly ran a four-year $19.4 million fraud scheme involving 65 Investors, 59 of whom allegedly incurred losses totaling $13.7 million, according to the Complaint.
The Complaint also notes that the Parent Company allegedly sold promissory notes to 23 non-accredited investors who also were not sophisticated, and that most of the non-accredited investors were under 23 years of age.
As a result, according to the Complaint, a FINRA Hearing Panel has ordered Ahmed to make restitution, totaling $ I 3.7 million, to 59 customers.
The Peiffer Wolf Investor Rights Lawyers Help Investors
The Peiffer Wolf investor rights lawyers often represent investors who lose money as a result of alleged securities fraud. 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 securities fraud may contact the investor rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.