Rajesh Markan

The Securities and Exchange Commission (SEC) has filed charges against former registered representative Rajesh Markan for defrauding brokerage clients out of approximately $2.9 million through a fake private equity investment scheme.

According to the SEC, from 2015 through July 2024, Markan solicited around ten customers while employed at two dual-registered broker-dealers and investment advisers, convincing them to invest in a fictitious fund called the “Intrinsic Value Portfolio.” Markan falsely claimed the fund was managed by a prominent New York private equity firm and promised long-term, above-market returns. In reality, the fund never existed.

To carry out the scheme, Markan fabricated investor account statements, created a fake domain name, and posed as a representative of the alleged New York firm to send deceptive communications. The SEC also alleges that Markan misappropriated the majority of investor funds for personal use.

In a parallel criminal case, Markan has pled guilty to related federal charges. He was previously barred by FINRA in October 2024 from associating with any member firm.

If you invested with Rajesh Markan or were promised returns through the so-called Intrinsic Value Portfolio and have suffered losses, you may have legal options to recover your funds. Contact ChapmanAlbin today for a free consultation.