{"id":2819,"date":"2016-02-15T00:00:00","date_gmt":"2016-02-15T05:00:00","guid":{"rendered":"http:\/\/silverlaw.lawblogger.net\/blog\/finra-alleges-broker-gopi-vungarala-charged-11-million-in-commissions-for-nontraded-reits-and-bdcs-and-lied-about-it\/"},"modified":"2018-10-08T12:39:52","modified_gmt":"2018-10-08T16:39:52","slug":"finra-alleges-broker-gopi-vungarala-charged-11-million-in-commissions-for-nontraded-reits-and-bdcs-and-lied-about-it","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/finra-alleges-broker-gopi-vungarala-charged-11-million-in-commissions-for-nontraded-reits-and-bdcs-and-lied-about-it\/","title":{"rendered":"FINRA Alleges Broker Gopi Vungarala Charged $11 million in Commissions for nontraded REITs and BDCs and Lied About it"},"content":{"rendered":"<\/p>\n

The Financial Industry Regulatory Authority Inc.<\/a> (\u201cFINRA\u201d) charged a broker for lying to a Native American tribe about $11 million in commissions he accumulated when he sold the tribe $190 million in nontraded real estate investment trusts and business development companies.<\/p>\n

According to the complaint, Gopi Krishna Vungarala (CRD# 4856193)<\/a>, the broker, served as the unnamed tribe\u2019s registered representative as well as its treasury investment manager. Vungarala used his position to fraudulently induce the tribe to invest hundreds of millions of dollars in nontraded REITs and BDCs and repeatedly lied about whether he and his firm received commissions for the sales.<\/p>\n

The complaint alleges that Vungarala falsely represented to the tribe that he would not receive any commissions on purchases of the non-traded REITs and BDCs made in the tribe\u2019s accounts in order to induce the tribe to make the purchases.<\/p>\n

Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority Inc. (\u201cFINRA\u201d) charged a broker for lying to a Native American tribe about $11 million in commissions he accumulated when he sold the tribe $190 million in nontraded real estate investment trusts and business development companies. According to the complaint, Gopi Krishna Vungarala (CRD# 4856193), the broker, served as the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-2819","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"\nFINRA Alleges Broker Gopi Vungarala Charged $11 million in Commissions for nontraded REITs and BDCs and Lied About it — Securities Arbitration Lawyers Blog — February 15, 2016<\/title>\n<meta name=\"description\" content=\"If you feel you have been the victim of investment fraud, contact Silver Law Group today to speak to an experienced securities attorney\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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