Former AMERITAS broker ABIDA KHAN Found Guilty in VGTel Stock Scam

SHEIK FIRDOSH KHAN CRD#: 2448117 (aka ABIDA KHAN) was recently found guilty of securities and investment advisor fraud.  The Securities and Exchange Commission (SEC) has barred the former Ameritas advisor from acting as a broker or investment advisor or otherwise associating with firms that sell securities or provide investment advice to the public.
Abida Khan was arrested in Las Vegas in January of 2016 and charged with conspiracy, securities fraud, wire fraud, and investment advisor fraud by the U.S. Attorney's Office, Southern District of New York. The U.S. Attorney's Office had reported at the time of her arrest that of the approximately $15 million invested in the fraudulent scheme allegedly devised by Abida Khan and others, more than $9 million was funneled to the defendants and other co-conspirators.
According to the court, Khan who lives in Pasadena, Calif., was found guilty of falsely telling prospective investors their investments in private offerings of VGTel Inc. would benefit from prospective reverse-mergers between the company and private companies even though no merger would ever happen. According to New York officials, Khan allegedly told at least 20 of her clients to sell their annuities, often incurring penalties, to buy VGTel, and told her investors, many elderly, that they would double or triple their money in VGtel. She allegedly was paid $110,000 in kickbacks for soliciting VGtel sales, according to the charges. She also was found guilty of scheming to control and manipulate the publicly traded price of VGTel stock and scheming to entice investors to invest in private shares of the stock through false and misleading statements.
According to FINRA’s BrokerCheck, SHEIK FIRDOSH KHAN (aka Abida Khan) has 19 years of experience in the securities industry and was listed with 2 firms, the most recent listed below:
05/10/2002 - 12/03/2013  AMERITAS INVESTMENT CORP. - MURRIETA, CA 
If you were a client of former AMERITAS INVESTMENT CORP. of MURRIETA, CA broker ABIDA KHAN and experienced losses due to her actions or recommendations of VGTel stock, call Soreide Law Goup and speak to an experienced securities lawyer regarding the possible recovery of your investment losses at:  888-760-6552.
Soreide Law Group will represent you nationwide before FINRA.  We operate on a contingency fee basis.  Let our experience work for you.