CHARLES SAMEL REVIEW
This complaint was posted on NAS on 6th Jan, 2021 and is a permanent record located here: https://www.nameandshame.com/charles-samel-5YCW6/fraud-plain-simple-id5ydq0 .
A Fraud: Plain & Simple
Today, The Smart Investor Feed brings you another morally reprehensible fraud.
Charles Samel has been seized/arrested by the U.S. Securities And Exchange Commission (SEC). Shocking right?
We weren’t expecting this as well, but these scammers are getting smarter by the minute, making it harder for us to identify.
Such swindlers seem to be booming in numbers lately. This case is kind of interesting, why don’t I show you why:
Full Report On Charles Samel
The Securities and Exchange Commission charged Charles Samel, a former consultant for former registered investment adviser International Investment Group LLC (IIG), for his role in an alleged fraud conducted by IIG to cover up tens of millions of dollars in investor losses on bad bets in order to keep its investment advisory business afloat.
As alleged in the SEC's complaint, Samel assisted IIG's principals in concealing the fraudulent nature of a loan asset in the fund's portfolio. The complaint alleges that when auditors asked questions about the prospects that the fake loan would be repaid, Samel helped prepare a sham agreement falsely documenting the sale of the fake loan by the fund. The sham agreement was allegedly provided to the auditors to resolve their concerns about the loan and, as a result, no issues about the loan were raised in the audit report that was sent to the fund investors.
The SEC's complaint, filed in federal district court in New York, charges Samel with aiding and abetting IIG's violations of the antifraud provisions of the Investment Advisers Act of 1940. The SEC seeks injunctive relief, disgorgement plus prejudgment interest, and a civil penalty.
The SEC charged IIG with securities fraud on Nov. 21, 2019, and revoked IIG's registration as an investment adviser on Nov. 26, 2019. On March 30, 2020, the SEC obtained a final judgment on consent that enjoins IIG from violating the antifraud provisions of the federal securities laws and requires IIG to pay more than $35 million in disgorgement and prejudgment interest. In addition, the SEC charged one of IIG's principals, David Hu, with fraud on July 17, 2020, and announced settled fraud charges against a senior employee, Carlos Cano, on July 22, 2020.
Conclusion: Charles Samel Is A Fraud
The report on SEC clearly suggests that Charles Samel never had any intentions to do honest business or provide helpful services. Main intention behind all their actions was to take advantage of the honesty & gullibility of people and scam them. It would be an understatement to call this a mere fraud, this one is a scandal.
If you feel like you are a victim of this scam, then I recommend contacting a law firm and consulting with them about a lawsuit. Companies & firms pay huge reprimands to settle serious lawsuits.
Help Us Fight These Criminals
Do you have evidence against Charles Samel or one of their associates, then please post it here. These criminals rely on their witnesses’ & victims’ silence, if you speak up, then they get exposed and punished for their horrific acts. I started The Smart Investor Feed on this site with only one purpose; to become a nightmare for the financial frauds in the country. I try to post often, so you can bookmark my profile for regular updates on frauds & con-artists.
Full Disclosure: We sourced this piece of information from the SEC database