Aberon Capital Management Principal Niket Jain Allegedly Operated a Four-year $20 Million Investment Scheme; Jain Faces Charges of alleged Securities Fraud & Obstruction
Aberon Capital Management principal Niket Jain, from 2010 until 2014, allegedly operated a four-year, $20 million investment scheme via his Cayman Islands hedge fund, according to reports from Manhattan federal prosecutors under review by investor rights attorney Alan Rosca.
Jain, 46, now faces charges of alleged conspiracy, wire fraud, securities fraud and obstruction, and will be arraigned later before U.S. District Judge P. Kevin Castel, according to Reports from New York.
Niket Jain had his bail set by U.S. Magistrate Judge Barbara Moses at $300,000 to be secured by $10,000 of his own cash, the Reports note.
Investor rights attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Niket Jain’s alleged investment scheme. Investors who believe they may have lost money in activity related to Niket Jain’s alleged investment scheme are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.
Niket Jain Allegedly Lied to the SEC about False Documents; Jain Allegedly Told an Investor that an Account Held $18M when it Actually Allegedly Held only $7M
Niket Jain also allegedly made false statements to the SEC during the course of January 2018 sit-down wherein he was asked about false documents, according to an indictment under review by investor rights attorney Alan Rosca.
Said indictment also alleges that Jain also purportedly informed an unnamed investor of an $18 million account balance in 2011, when said investor’s balance had only been in the range of $7 million at that time.
Jain, prior to being charged, sued Aberon, the fund at issue, and his 50 percent co-owner Joseph Krigsfeld in state court last year.
Said suit further alleges that Krigsfeld took part in nefarious and illegal conduct that resulted in a May 2018 SEC cease-and-desist order.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints mentioned in this article, unless otherwise indicated.
Securities Lawyer Investigating
The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Niket Jain’s alleged investment scheme. The firm takes most cases of this type on a contingency fee basis and advance the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors who believe they lost money as a result of Niket Jain’s alleged investment scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at email@example.com, or through the contact form on this webpage.