Success Trade Securities, Inc., sold $18 million in STI promissory notes to their clients, most of whom are current or former NFL and NBA players. These promissory notes were unregistered securities. The STI promissory notes were allegedly part of a Ponzi scheme by Success Trade, and it's brokers, Faud Ahmed and Jinesh Pravin "Hodge" Brahmbhatt, […]

Yesterday, on this blog we wrote that The Financial Industry Regulatory Authority (FINRA) recently filed a cease-and-desist order against Success Trade Securities. It has now been reported that federal investigators are interested in speaking to multiple NFL and NBA players regarding an $18 million investment scheme. The U.S. Department of Justice, the Federal Bureau of […]

The Financial Industry Regulatory Authority (FINRA) recently filed a cease-and-desist order against Success Trade Securities. Allegedly the online investment firm scammed its investors, which included a number of professional athletes. FINRA issued a complaint against Success Trade and its CEO and President, Fuad Ahmed, accusing fraud in the sales of $18 million in notes issued […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” Success Trade Securities, Inc. (CRD #46027, Washington, DC) and Fuad Ahmed (CRD #2404244, Registered Principal, Washington, DC) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Ahmed was fined $10,000, suspended from association with any […]