FORMER SEATTLE INVESTMENT ADVISOR PLEADS GUILTY TO FRAUD
Former Seattle Investment Advisor Pleads Guilty to Fraud
Satyen Chatterjee, a former investment advisor from Seattle, recently pled guilty to wire fraud. According to the Sky Valley Chronicle and Seattle Times, Chatterjee pled guilty in the U.S. District Court in Seattle. Chatterjee owned and operated an investment advisory firm called Strategic Capital Management, Inc. It was alleged that at least five victims lost at least $600,000. Sentencing for Chatterjee is set for August 20, 2015, which will take place at the U.S. District Court in downtown Seattle.
Chatterjee was alleged to have induced victims to invest in purported “fixed income” investments. However, Chatterjee simply transferred the money to his own personal bank accounts. He also solicited clients to invest in Metamune, Inc., but again he simply just transferred the investors’ money to his own accounts.
Chatterjee was once a professor at the University of Washington Business School, also located in Seattle. The school also has locations in Kirkland. It is not believed that Chatterjee’s conduct was done while he was a professor at the university.
Israels & Neuman PLC is a national securities and investment fraud law firm with offices in Bellevue, Washington and Denver, Colorado. We represent investors in FINRA arbitration proceedings in all 50 states, and we also represent investors locally, including in Seattle, Bellevue, Kirkland, Bothell, Kenmore, Renton, Redmond, Sammamish, Issaquah, Mercer Island, Medina, Clyde Hill, Yarrow Point, Hunts Point, Beaux Arts Village, Woodinville, and many other local communities. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
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