The U.S. Securities & Exchange Commission (SEC) suspended an attorney from practicing before the SEC after settling claims that he and a client bilked investors of $6 million in a prime bank scheme.
The attorney, Jilbert Tahmazian, agreed to be suspended after he was accused of taking part in a scamming investors. Investors were told that they would make between 15-30% in interest on fictitious investment contracts. In addition to being suspended, Tahmazian also agreed to pay back nearly $200,000 in disgorgement and interest and civil penalties.
According to the SEC’s complaint, Tahmazian and co-conspirator Vahak Dino Awadisian worked together beginning in 2009 to lure potential investors into “management agreement contracts” that didn’t exist.
Awadisian was part of a similar prime bank scheme in Alabama. He was arrested there in 2014 on similar charges and now is believed to be living abroad as a fugitive.
Call a Los Angeles Investment Fraud Attorney Today
If you invested with Jilbert Tahmazian or Vahak Dino Awadisian in their prime bank scheme, you may have certain legal rights that require your immediate attention.
Contact an experienced Los Angeles investment fraud attorney today for a consultation to discuss your rights and options.