February 16, 2017
Angel Oak Capital Partners, LLC, Peraza Capital & Investment, LLC, Sreeniwas Prabhu, David W. Wells
SANCTION AMOUNT: $3,755,000
Defendants: Angel Oak Capital Partners, LLC, Peraza Capital & Investment, LLC
Sreeniwas Prabhu, David W. Wells
The SEC found that respondent Angel Oak operated an unregistered broker-dealer for nearly five years, and that the other respondents caused this violation. Angel Oak allegedly entered into an independent contractor agreement with Peraza Capital in late 2009 for the purpose of conducting a securities business, despite not being registered - a fact known to Peraza Capital. Prabhu was an owner of Angel Oak and Wells was an employee of an affiliate.
- Key Docs
- Official SEC press release