A former investment advisor accused of luring 10 customers to invest $2.9 million in a made-up private equity fund has settled a Securities and Exchange Commission enforcement action.
Rajesh Markan, without admitting or denying the allegations, agreed to be permanently barred from violating antifraud provisions of federal securities laws and have any monetary remedies decided in the future after an SEC motion, the commission said in a press release announcing the resolution. The accord requires approval in the US District Court for the Northern District of Texas.
The SEC alleged that from 2015 through July 2024, Markan solicited his brokerage ...
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