Advisor, Dean S. Mustaphalli, owner and operator of Mustaphalli Capital Partners Fund LP, was charged with operating a securities fraud scheme that involved targeting investors who were elderly and at or near retirement
In total, Mustaphalli allegedly fraudulently solicited his former clients to invest over $12 million and lost over $11 million of their money.
According to the indictment, Mustaphalli’s scheme brought in $5M+ from 22 victims between June 2014 and March 2017 and a separate civil lawsuit alleges that he fraudulently solicited an additional $7 million from prior investors between 2012 and 2014