PKS and Gopi Vungarala—Investment Scheme, Hiding Commissions

Gopi Vungarala, a Purshe Kaplan Sterling Investments (PKS) Representative, Allegedly Lied to Members of a Native American Tribe Regarding $11.4 Million in Commissions He Received Related to More than $190 Million in Non-traded REITS

Gopi Vungarala, a Purshe Kaplan Sterling Investments (PKS) representative, “regularly lied” to his customer, known only as ST, a Native American tribe, according to a Complaint from FINRA’s Department of Enforcement currently under review by attorneys Joe Peiffer and Alan Rosca.

The FINRA Complaint further details that Gopi Vungarala allegedly lied to members of said Native American tribe about commissions he received related to more than $190 million in non-traded real estate investment trusts and business development companies the tribe invested in over the course of three years, producing $11.4 million in commissions for his firm.

The Peiffer Rosca Wolf securities lawyers are presently conducting an investigation into Purshe Kaplan Sterling Investments and Gopi Vungarala’s alleged concealment of commissions from customers.

Gopi Vungarala Allegedly Generated $11.4 million in commissions for PKS, $9.6 million of which was paid to Vungarala; Vungarala Allegedly Failed to Disclose Material Fact to ST that it was Eligible to Receive More than $3.3 Million in Additional Volume Discounts

Gopi Vungarala, who served as a registered rep for PKS and was also employed by the tribe as its treasury investment manager, allegedly participated in decisions regarding the tribe’s investments, and knew that ST prohibited its employees from engaging in business activities that could constitute a conflict of interest with the tribe, according to the aforementioned FINRA Complaint presently being reviewed by attorneys Joe Peiffer and Alan Rosca.

FINRA Department of Enforcement further alleges that Vungarala purportedly recommended the tribe invest more than $190 million in non-traded REITs and BDCs (business development companies) over the course of three years, generating $11.4 million in commissions for PKS, $9.6 million of which went to Vungarala himself.

Finally, Vungarala allegedly failed to disclose to ST the material fact that it was eligible to receive more than $3.3 million in additional volume discounts based upon the purchase through PKS of the same non-traded REITs/BDCs by multiple trusts owned by ST, FINRA alleges.

Securities Lawyers Investigating

The Peiffer Rosca Wolf securities lawyers are currently investigating Gopi Vungarala and PKS’s  alleged concealment of commissions from customers. 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.

The Peiffer Rosca Wolf securities lawyers are currently investigating Gopi Vungarala and Purshe Kaplan Sterling Investments for allegedly lying to customers and concealing commissions. Investors who believe they lost money as a result of Gopi Vungarala and his firm Purshe Kaplan Sterling Investments may contact the securities 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 (1163 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.