Miles A. Bahl Allegedly Made Fraudulent Misrepresentations Soliciting $3 Million in Promissory Notes Issued by the Economic Development Finance Corporation

investor rights attorneysMiles A. Bahl allegedly made fraudulent misrepresentations in soliciting $3m of investments in promissory notes issued by the Economic Development Finance Corporation (EDFC), a company that later defaulted on the notes, according to a complaint from FINRA’s Department of Enforcement currently under review by attorneys Joe Peiffer and Alan Rosca.

Miles A. Bahl, registered with FINRA through former member firm du Pasquier& Co., Inc. from October 31, 2005 through July 31,2014, allegedly solicited and sold over $3 million worth of EDFC promissory notes in a private offering to 17 customers between March 2006 and July 2007, according to FINRA.  In or around August 2007, EDFC defaulted under said notes, and, with one exception, EDFC failed to pay the principal due, FINRA notes.

The Peiffer Rosca Wolf investment recovery lawyers Alan Rosca and Joe Peiffer are investigating on behalf of investors in Bahl’s EDFC program, and are preparing to take action.

Bahl’s EDFC Notes Allegedly Held No Real Collateral

In reality, there was no collateral for the EDFC Notes because the HRTCs (historic rehabilitation tax credits) had not even been issued at the time the proceeds were supposedly pledged by EDFC, and EDFC had no property right or interest in the purported HTRC proceeds, according to a complaint from FINRA’s Department of Enforcement under review at present by attorneys Joe Peiffer and Alan Rosca.

As per the aforementioned alleged acts of material misrepresentation regarding the EDFC Notes to investors, FINRA further alleges, Bahl reportedly violated the Exchange Act and NASD Conduct Rules.

Investment Recovery Lawyers Investigating

The Peiffer Rosca Wolf investment recovery lawyers often represent investors who lose money as a result of investment misconduct. 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 investment misconduct or in Bahl’s EDFC program are welcomed to contact the investment rights lawyers at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.

Alan Rosca (1169 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.