Peter Kohli, Formerly of Trustmont Financial Group, Facing 5 Pending Customer Disputes Alleging Various Forms of Misconduct

Kohli’s former clients are collectively seeking over $850K in damages for his alleged misconduct.

The Sonn Law Group is investigating allegations that Peter Kohli committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Peter Kohli (CRD#: 1064334) was registered as a broker with Trustmont Financial Group from 2010 until 2015, when he was permitted to resign after allegations that he violated written supervisory procedures in accepting a loan from a client. 

Kohli has ten other disclosures on his BrokerCheck report.

July 2020 Customer Dispute

• Status: Pending
• Allegations: Failure to supervise, failure to monitor the representative, failure to conduct reasonable due diligence
• Damage Amount Requested: $40,803.16

July 2020 Customer Dispute

• Status: Pending
• Allegations: Failure to supervise, failure to monitor the representative
• Damage Amount Requested: $373,023.00

March 2020 Customer Dispute

• Status: Pending
• Allegations: The complaint alleges the representative sold promissory notes
• Damage Amount Requested: $70,000.00
• March 2020 Customer Dispute
• Status: Pending
• Allegations: The complainant alleges the representative sold promissory notes, fraudulent mutual funds and a variable annuity
• Damage Amount Requested: $130,566.62

December 2019 Customer Dispute

• Status: Pending
• Allegations: Failure to supervise, failure to monitor the representative
• Damage Amount Requested: $254,807.00

November 2018 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges he was recommended to invest in promissory notes 06/14/2012, 08/23/2012, 05/23/2013
• Damage Amount Requested: $100,001.00
• Settlement Amount: $75,000.00

March 2018 Regulatory Judgment

• Status: Final
• Initiated By: SEC
• Allegations: SEC Admin Release 34-82818, IA Release 40-4865 / March 7, 2018: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b)(6) of the Securities Exchange Act of 1934 (“Exchange Act”) and Section 203(f) of the Investment Advisers Act of 1940 (“Advisers Act”) against Peter R. Kohli (“Respondent”). The Commission finds that on November 16, 2017, a final judgment was entered by consent against Kohli, permanently enjoining him from future violations of Sections 17(a) of the Securities Act of 1933, Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, Sections 206(1), 206(2) and 206(4) of the Advisers Act and Rule 206(4)-8 thereunder, and Section 34(b) of the Investment Company Act of 1940 in the civil action entitled Securities and Exchange Commission v. Peter R. Kohli, et al., Civil Action Number 5:16-cv-05143, in the United States District Court for the Eastern District of Pennsylvania. The Commission’s complaint alleges that while Kohli solicited investors to invest in the four mutual funds run by The DMS Funds, he instead used the money for other purposes. To conceal this fraud, Kohli sent investors fake financial statements purporting to show their investments in the mutual funds. The complaint also alleges that Kohli made materially false statements in soliciting the sale of the securities of DMS Advisors’ parent company, and made material misrepresentations and omissions in mutual fund registration statements filed with the Commission.
• Resolution: Order
• Sanctions: Bar
• Registration Capacities Affected: Association with broker, dealer, investment adviser, municipal securities dealer, municipal advisor, transfer agent, or NRSRO
• Duration: Indefinite
• Start Date: 3/7/2018

June 2017 Customer Dispute

• Status: Settled
• Allegations: Representative sold fraudulent promissory notes to investors in order to support his failing mutual fund business.
• Damage Amount Requested: $750,000.00
• Settlement Amount: $375,000.00

September 2016 Civil Judgment

• Status: Final
• Initiated By: SEC
• Allegations: SEC Litigation Release No. 23659, September 28, 2016: The SEC announced charges and an emergency asset freeze against a former stockbroker for defrauding investors in his failing mutual fund business. The SEC’s complaint, filed in federal court in Philadelphia, Pennsylvania, alleges that, from 2012 through 2015, Peter R. Kohli, of Pottstown, Pennsylvania, fraudulently raised more than $3.2 million from at least 120 investors. The complaint alleges that, among other things, Kohli filed false mutual fund registration statements with the SEC, misappropriated investor funds, and made false and misleading statements when selling securities in a company controlled by Kohli. At the time of his misconduct, Kohli was a registered representative and investment adviser representative associated with a dually-registered broker-dealer and investment adviser. According to the SEC’s complaint, in 2012, Kohli launched a fund (the “Fund”), which ultimately consisted of four emerging market mutual fund series. An advisory firm (the “Firm”) was the Funds’ investment adviser, and a separate Kohli-controlled company (the “Company”) owned the Firm. The complaint alleges that Kohli filed registration statements with the SEC that falsely overstated the Funds’ sophistication and ignored the key risk that the Firm and Kohli would be unable to pay the funds’ expenses, sold the Company warrants, falsely telling investors that the Company had taken steps toward an initial public offering, stole money meant to be invested in the mutual funds, and used it instead to pay fund expenses and, as the funds neared collapse, lied to investors and sold the Company promissory notes with no reasonable expectation that the purchasers could be repaid. The SEC’s complaint charges Kohli with violations of Sections 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, Sections 206(1), 206(2), 206(4) of the Investment Advisers Act of 1940 and Rule 206(4)-8 thereunder, and Section 34(b) of the Investment Company Act of 1940.
• Resolution: Judgment Rendered
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Sanctions: Disgorgement
• Amount: $740,908.00
• Amount: $489,911.39
• Sanctions: Monetary Penalty other than Fines
• Sanctions: Injunction

October 2014 Customer Dispute

• Status: Award / Judgment
• Allegations: Whenever Mr. Peter Kohli did bulk trading on The Pacific Life Accounts, Mr. Kohli would send an Excel spreadsheet of the clients involved. Inadvertently, Mr. Kohli included [customer’s] name on the list.
• Damage Amount Requested: $9,240.03
• Settlement Amount: $9,240.03
• Broker Comment: When Mr. Kohli  informed his Broker Dealer of the loss in value causes by his actions, Mr. Kohli immediately made the client whole.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Peter Kohli committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.