National investment loss lawyers KlaymanToskes is investigating broker Kabir Gangahar (CRD# 4280828) of Gemini Capital Partners and KMS Financial Services.
According to FINRA BrokerCheck, Kabir Gangahar has been suspended from acting as a broker and investment advisor by the Securities Exchange Commission (“SEC”). Gangahar consented to sanctions of a 12-month suspension from associating with any broker, dealer, or investment adviser, a $22,803 monetary penalty, and disgorgement of $130,322. The SEC’s findings disclosed that Gemini and Gangahar willfully violated Section 202 of the Investment Advisers Act of 1940 by engaging in a cherry picking scheme.
Investors that suffered losses with broker Kabir Gangahar are encouraged to contact attorney Lawrence L. Klayman, Esq., at 888-997-9956 or by email at investigations@klaymantoskes.com to discuss potential recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
Financial advisor Kabir Gangahar, of Gemini Capital Partners, and formerly of KMS Financial Services, has been suspended from acting as a broker or investment advisor by the Securities and Exchange Commission (“SEC”). The SEC’s findings disclosed that Gemini and Gangahar had willfully violated Section 202 of the Investment Advisers Act of 1940 by engaging in a cherry picking scheme. The SEC found that from January 2020 through December 2022, Gemini, a state registered investment adviser, and Gangahar, the majority owner and control person of Gemini, disproportionately allocated certain profitable trades to themselves in a way that disadvantaged their advisory clients. While the clients achieved cumulative gains on relevant trades allocated to their accounts, and Gemini and Gangahar did not disproportionately allocate losing trades to their clients, disproportionate allocations of certain profitable trades breached Gemini’s and Gangahar’s fiduciary duties and failed to comply with Gemini’s disclosed policy of allocating trades to participating advisory clients on a pro rata basis. As a result, Gemini and Gangahar willfully violated Section 206(2) of the Advisers Act.
As an investor, there are a few signs that you should look out for if you believe you may have a claim against your financial advisor. These signs could potentially indicate misconduct, negligence, or investment fraud. Investors are encouraged to contact our firm immediately if you have experienced any of the following:
Some investors have close relationships with their brokers due to the time and trust built over the course of their investment relationship. However, it is crucial to remember that financial decisions should be based on careful analysis and due diligence rather than solely relying on personal relationships.
Engaging the services of an experienced securities attorney to evaluate your specific circumstances is strongly advised. At KlaymanToskes, our team of experienced securities attorneys has a deep understanding of this complex area of law, allowing us to provide invaluable insight and tailored guidance that directly addresses your individual needs.
If you suffered losses with broker Kabir Gangahar, or have concerns regarding your investment portfolio at Gemini Capital Partners and/or KMS Financial Services, or with any other financial advisor or firm, contact KlaymanToskes at 888-997-9956 or fill out a short contact form for a free and confidential consultation.