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Naseem Salamah Allegedly Stole $1 Million from 3 Clients 

Illinois Advisor Naseem Salamah Sentenced for Allegedly Stealing $1 Million from 3 Advisory Clients, featured by top securities fraud attorneys, the White Law Group

Advisor Naseem Salamah (Tony Salamah) Pleads Guilty to Defrauding Investors  

Investment Advisor Naseem Salamah (also known as Tony Salamah) of Loves Park, IL was reportedly sentenced on March 23 to 52 months in prison on charges of wire fraud, according to an article in WREX today. Salamah reportedly pleaded guilty to the charges last October.  

Last September, Salamah, while registered with Ninepoint Advisors in Loves Park, IL was charged with stealing $1 million from three elderly advisory clients.  According to the charges, between August 2017 and May 2021 Salamah purportedly told customers he needed to move the money to diversify their assets, but instead, Salamah allegedly spent the money on luxury items including vacations and private school tuition for his children. 

Salamah is required to pay restitution to the customers in the amount of $968,582.12, according to the article.   

Prior to working for Ninepoint Advisors, Salamah was reportedly affiliated with the following firms during his career, among others, according to FINRA:     
08/20/2010 – 02/07/2013, MORGAN STANLEY (CRD#:149777), ROCKFORD, IL,   

02/11/2005 – 09/02/2010, METLIFE SECURITIES INC. (CRD#:14251), ROCKFORD, IL  


Potential Lawsuits to Recover Financial Losses       

The White Law Group is investigating potential securities fraud lawsuits regarding the liability that Salamah’s employers may have for failure to properly supervise him.         

When brokers and registered investment advisors violate securities laws the firms they are working with may be liable for investment losses. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.         

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.         

We represent investors in all 50 states including Illinois. Our attorneys have recovered millions of dollars from many brokerage firms in the past.         

If you are concerned about your investments with Naseem Salamah (also known as Tony Salamah), please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.          

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.          





Tags: , Last modified: December 1, 2022