Peter Rajinder Kohli of Pottstown Pennsylvania a stockbroker formerly registered with Trustmont Financial Group Inc. and chief executive officer of both DMS Advisors Inc. and DMS Funds has been barred by the Securities and Exchange commission in all capacities according to an Order Instituting Administrative Proceedings Pursuant to Securities Exchange Act of 1934 Section 15(b)(6) and Investment Advisers Act of 19340 Section 203(f). In the Matter of Peter R. Kohli Administrative Proceeding File No. 3-18389 (Mar. 7, 2018).
Evidently, Kohli was permanently enjoined from committing future violations of Securities and Exchange Act of 1934 Section 10(b), SEC Rule 10b-5, Securities Act of 1933 Section 17(a), investment Advisers Act Section 206(1), 206(2), 206(4) and Investment Company Act of 1940 Section 34(b). Securities and Exchange Commission v. Peter R. Kohli, et al., Civil Action No. 5:16-cv-05143-JLS (E.D. Pa. Nov. 16, 2017).
In the Complaint filed by the Securities and Exchange Commission, Kohli and DMS Advisors were alleged to have accumulated $3,200,000.00 in funds from one-hundred twenty investors between 2012 and 2015. The investments were reportedly intended for a Fund that had been launched by Kohli which was comprised of four emerging market mutual funds operated by The DMS Funds. Apparently, Kohli’s customers had been induced to make investments despite the prospectus and other documents Kohli filed with the SEC having been riddled with misrepresentations pertaining to the sophistication of the funds and risks facing investors due to a lack of income or assets on Kohli’s and DMS Advisors’ part.
Apparently, Kohli misappropriated the customers’ funds; he utilized customers’ monies to pay down expenses even though he lacked authorization. The Complaint stated that investors were provided fake financial documents to conceal his fraud. Investors were reportedly exposed to Kohli’s misrepresentations in the course of being solicited to purchase securities of the parent company of DMS Advisors.
Financial Industry Regulatory Authority (FINRA) Public Disclosure additionally confirms that Kohli was terminated from Trustmont Financial Group, Inc. on April 29, 2015 based upon accusations that he entered into a customer loan transaction in violation of the firm’s policy.
Further, on November 26, 2014, Kohli was subject of a customer initiated investment related arbitration claim where the customer was awarded $9,240.03 in damages supported by Kohli having been found liable on the customer’s claim of disseminating unauthorized customer information.
Kohli’s registration with Trustmont Financial Group, Inc. ceased on May 27, 2015.
The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.
This posting and the information on our website is for general information purposes only. This content should be not considered legal advice, and any responses, comments, e-mails, other communications do not form any attorney client relationship. Attorney Advertisement. See Important Disclaimer
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitrations.com
To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com
