Financial Advisor Jagveer Singh Pleads Guilty to Securities Fraud

Baltimore, MD – Jagveer Singh, 55, from Clarksville, Maryland, has entered a guilty plea to securities fraud charges, according to the U.S. Attorney’s Office for the District of Maryland.

Singh, an investment advisor with a Ph.D. in molecular biology and MBA degree from Johns Hopkins, was charged with altering over 24 monthly statements between January 2008 and June 2010, hiding losses ranging from $224,747.34 to $53,186.76 per month.

Operating through A&S Financial Services, Inc., and later Synergia Capital Management, LLC, both in Clarksville, Singh provided financial advice and services to affluent investors and small businesses. During the time of his fraudulent activity, the client’s account suffered a total loss of about $310,310.70, while Singh obtained $14,382.52 in commissions.

United States Attorney Rod J. Rosenstein announced the plea, which is part of the Financial Fraud Enforcement Task Force’s efforts to combat financial crimes. Singh faces up to 25 years in prison, three years of supervised release, and a fine of $250,000. Sentencing is scheduled for May 21, 2015.

The U.S. Postal Inspection Service – Washington Division played a key role in the investigation, with Assistant United States Attorney Leo J. Wise prosecuting the case.