On September 21, 2012, the Securities and Exchange Commission accused Yusaf Jawed, Grifphon Asset Management, Robert Custis, Jacques Nichols, Lyman Bruhn, Pearl Asset Management and Sasquatch Capital Management of securities fraud. See SEC litigation release #22487.
Jawed pled guilty to running a Ponzi scheme in April 2013 and was sentenced to six and a half years in prison and ordered to forfeit $6.4 million raised in the scheme. Jawed’s poor financial condition makes it unlikely that he will be able to repay any of the funds.
In August of 2013, an arbitration panel awarded an investor damages against Raymond James on claims that the investment in the Grifphon Alpha 1 Fund violated state securities laws and was misrepresented. FINRA arbitration No. 12-1905 , Deters IRA, et al vs Raymond James Financial Services, Inc.
Grifphon Funds sold by brokerage firms include:
Alpha Qualified Fund
Grifphon Alpha Long Term
Grifphon Iota Fund
Grifphon High Quality Large Cap Fund
Alpha Institutional Fund – See more at: www.whitesecuritieslaw.com/securities-fraud/blog/page/2/#sthash.nxEMYGse.dpuf
Alpha Qualified Fund
Grifphon Alpha Long Term
Grifphon Iota Fund
Grifphon High Quality Large Cap Fund
Alpha Institutional Fund
Alpha Qualified Fund
Grifphon Alpha Long Term
Grifphon Iota Fund
Grifphon High Quality Large Cap Fund
Alpha Institutional Fund – See more at:
Alpha Institutional Fund
Grifphon Alpha I Fund
Grifphon Alpha Long Term
Grifphon High Quality Large Cap Fund
Grifphon Iota Fund
If you invested in any of the Grifphon funds you may have valuable legal rights entitling you to damages. For a no charge consultation with an experienced securities lawyer, please contact our office.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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