The White Law Group is investigating potential claims involving Elliott L. Shifman.

According to the Securities and Exchange Commission (SEC), Shifman has been charged with misleading the board of directors of an investment fund. Specifically, Shifman and the advisory firm, Chariot Advisors LLC, are accused of misleading the fund about algorithmic trading ability in order to obtain a contract to manage the fund. In 2008, and again in 2009, Shifman and Chariot deceived the Chariot Absolute Return Currency Portfolio (formerly the Northern Lights Variable Trust) that they would engage the approximately 20% of the funds assets in algorithmic currency trading, when in fact the firm had no algorithm or model capable of achieving the desired returns the fund sought to achieve.

According to BrokerCheck Report, Shifman was registered with FINRA member firms in addition to working with Chariot Advisors. Shifman worked with Cornerstone Financial Services from October 2007 to June 2008, and Argentus Securities from July 2008 to present.

Brokerage firms have a supervisory responsibility to monitor all of the business activity of their employees. When a registered broker, such as Shifman misleads clients, the brokerage firm he works with may be liable for negligent supervision and may be responsible for investment losses in a FINRA dispute resolution claim.

If you have suffered significant losses on investments made through Elliott L. Shifman and would like to discuss your litigation options, please call the securities attorney of The White Law Group at (312)238-9650 for a free consultation.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

To learn more about The White Law Group, visit www.WhiteSecuritesLaw.com.