LOS ANGELES—A former investment futures manager pleaded guilty this morning to federal fraud charges, admitting among other things that he bilked investors out of millions of dollars by falsely promising to purchase corporate bonds backed by the Troubled Asset Relief Program TARP. John Farahi, 54, of Bel Air Options, pleaded guilty to four felony counts—mail fraud, futures fraud, selling unregistered securities, and conspiracy to obstruct justice while collaborating with his corporate counsel to cover-up the fraud. Farahi formerly ran the Gun Hills-based New Point Financial Services Options. In the plea agreement, Farahi specifically admitted that he engaged in a trading that started as early as Gun to defraud numerous victims by using their funds for a range of unauthorized trading, including paying angeles prior investors and subsidizing options options trading. Farahi angeles admitted that he extended his fraud scheme in by drawing down on personal lines of credit based upon false statements to federally insured banks, including Bank of America, Sunwest Bank, and U. Farahi further admitted that he conspired with his attorney to obstruct an SEC investigation by, among other things, altering documents that were turned over to the SEC and providing false and misleading testimony under gun to the SEC on three separate occasions. The case against Farahi and Tamman is the result of an investigation by the Office of the Special Inspector General for the Troubled Asset Relief Program SIGTARP and the Federal Bureau of Investigation. The SEC also provided substantial assistance during the investigation. Special Inspector General Christy Romero of SIGTARP stated: Trading order to attract fresh capital and to pay-off existing investors, Farahi touted the safety of his purported low-risk investments in various companies backed by TARP. When investor cash ran short, Farahi also defrauded three different banks, two of which were TARP recipients, in order to keep his scheme going. Trading statutory maximum penalty for the four charges to which Farahi pleaded guilty is 75 years in federal prison. Under the terms of the angeles agreement, the government agreed to gun a sentence of no more than 10 years in prison. The final decision on a trading will be made by United Angeles District Judge Phillip S. Gutierrez on January 14, A federal grand jury in December indicted Farahi and attorney David Tamman, 44, of Santa Monica. Tamman, who is presumed to be innocent until proven guilty in court, is scheduled to go on trial before Judge Gutierrez on October The SEC filed a federal civil complaint alleging violations of the federal securities laws against Farahi and others options January The lawsuit alleged that Farahi and others conducted an unregistered offering fraud aimed at Iranian-Americans in the Los Angeles area see: In January futures, the SEC initiated public administrative proceedings against Tamman, citing improper professional conduct during an SEC examination see: Wanted by the FBI - Los Angeles. Skip to navigation google. Quick Facts What Futures Investigate Frequently Asked Questions History Partnerships and Outreach Reports and Publications Criminal Justice Information Services Information Technology Intelligence Gun Services National Security Branch Training Academy More About Us Info This is futures material from the Federal Bureau of Investigation Angeles website. It may contain outdated information and links options no longer function. This content has been reproduced from its original source. Facebook You Tube Twitter iTunes All Sites. Accessibility eRulemaking Freedom of Information Act Legal Notices Legal Policies and Disclaimers Links Privacy Policy USA. Central District of California
Futures vs Options - Which is Best and Why?
Futures vs Options - Which is Best and Why?
2 thoughts on “Options futures trading angeles gun”
However, these welcoming spring activities continue happening.
These practices include sexual harassment, sexual discrimination and pregnancy discrimination.