Sharif Azmi Sharif (CRD #2343413, Downers Grove, Illinois)

June 26, 2024 – An AWC was issued in which Sharif was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for nine months. Without admitting or denying the findings, Sharif consented to the sanctions and to the entry of findings that he participated in private securities transactions by facilitating the investment of approximately $900,000 by eight individuals, including seven customers of his member firm, without providing prior written notice to his firm. The findings stated that Sharif was a founding investor in a crypto asset mining company. Sharif and his business partner held an approximately one-hour video call with four firm customers to explore a potential investment by the customers in the company. During the call, Sharif explained the business model of the company, the amount the company was hoping to raise, potential returns, and answered questions relating to the company. Subsequently, the customers and four of their family members, three of whom were also firm customers, collectively invested approximately $900,000 in securities. The investments were for, among other things, the purchase of crypto asset mining equipment. Before the company was able to reach its funding goal, it changed its business model, and the customers complained to the firm. All seven customers either received refunds from, or otherwise settled with, the issuer. Sharif received no selling compensation in connection with his participation in the transactions. The suspension is in effect from July 1, 2024, through March 31, 2025. (FINRA Case #2022076175701)

If you have suffered losses as a result of Sharif Azmi Sharif's act and/or actions we would like to hear from you. We are currently investigating claims on behalf of clients who have suffered significant losses in their portfolios that are managed by Sharif Azmi Sharif. The Schwartz Law Firm represents investors in claims against financial advisors and their firms. If you have questions about your potential claim or need assistance from an investment fraud lawyer, please contact us at 866-618-0545 or email Matthew Schwartz directly at mschwartz@tslfirm.com.