Harshad Shah, Virendra Parekh, and Namah Wealth Creation & Preservation, L.P

The Securities and Exchange Commission (SEC) has charged Harshad Shah, Virendra Parekh, and their firm, Namah Wealth Creation & Preservation, L.P., for allegedly defrauding a California investor out of $1.5 million through a fraudulent securities offering.

Shah and Parekh, both licensed insurance agents, promised the investor a guaranteed 50% annual return and falsely claimed the investment was insured against loss. They also misrepresented that funds would be invested in international banks for high returns, when in reality, the money was lost in a risky Cyprus-based scheme.

The SEC’s complaint, filed in the U.S. District Court for the Northern District of California, charges the defendants with multiple fraud violations and seeks permanent injunctions, disgorgement, and civil penalties.

If you invested with Namah Wealth Creation & Preservation, L.P. or were impacted by similar fraudulent schemes, ChapmanAlbin LLC may be able to help. Contact us today for a free consultation to explore your legal options. Stay informed on the latest investor alerts by visiting our website.