(888) 637-5510

Written by 2:08 pm Blog, Current Investigations

SEC Charges Temenos Advisory, Inc. and CEO

Temenos Advisory, Inc.

Did you invest in high risk private placement investments with Temenos Advisory, Inc.?

According to a press announcement, the SEC filed charges July 18, 2018 against Temenos Advisory, Inc., a Connecticut investment advisory firm and its chief executive officer.

The charges allege that between 2014 and 2017 the firm put $19 million of investor money, including elderly investors’ retirement savings and pension plans, into high risk private placement investments and secretly pocketing hefty commissions from those investments.

 The SEC’s complaint alleges that Temenos Advisory, Inc. and its CEO encouraged advisory clients and other investors, including senior citizens and individuals approaching retirement, into four risky, illiquid private offerings.

The SEC alleges that Temenos and its CEO grossly overbilled some of their advisory clients, while charging them advisory fees for unbiased financial advice.

According to the complaint, Temenos allegedly concealed from their clients the high commissions they were earning from these risky and unsuitable investment recommendations. The firm was purportedly receiving cash and ownership stakes in the private companies they recommended.

The SEC further alleges that the firm and CEO fraudulently misled clients about the risks and prospects of the investments.

The problem with private placement investments is that they typically involve a high degree of risk. They are also often sold as unregistered securities which lack the same regulatory oversight as more traditional investment products like stocks or bonds.

Despite the risks of investing in private placements, brokerage firms continue to push this type of investment because of the high commissions associated with their sale and creation.

Investigating Potential Claims

The White Law Group is investigating the liability that Temenos Advisory Inc. may have for improperly recommending high-risk private placements to investors.

If you suffered losses investing with Temenos Advisory Inc., the securities attorneys at The White Law Group may be able to help you to recover your losses. To speak with a securities attorney about your options, please call The White Law Group at 888-637-5510 for a free consultation.

This information is provided to you by The White Law Group and is publicly available on the SEC’s website.

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

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visithttps://whitesecuritieslaw.com.



Tags: , , , , , , , , , , , , , , , , , , Last modified: December 6, 2022