Complaint Review: VII PEAKS CAPITAL -

Gurpreet Chandhoke is possibly the most irrelivant and scummiest banker of all time. He and Vinay Kumar have been investigated by the SEC and FINRA , While being investigated Gurpreet still boasts that he is a member of the TATA Family and he runs his all of investments with Vinay Kumar ( Who has already been investigated before ("FACT")..... He still goes around saying he runs a 750 Million Dollar Hedgefund (LIE). This loser wants to be relevant so bad, Hes way too late to the party!. Hes 44 and finally got a big deal that went bankrupt that hes scrambling to save,. He is legally partnered with Felon Craig Shults Programmer Manuel Ramirez Triana who runs knock off company AlesiaTec and both VII Peaks and Alesiatec are being sued. All their companies IP are stolen and everyone knows about these frauds.

Gurpreet is being sued for millions & INVESTIGATED

Individuals

Gurpreet Chandoke

Stephen Shea

Vinay Kumar aka Vinay Kumar Nevatia

Bhavin Shah

Ceclia Shea

Background

Vinay Kumar, Gurpreet Chandoke and Stephen Shea sit at the center of what could be numerous potential violations of laws. These individuals have worked closely over the last five years to allegedly take money from investors using a series of companies and false statements while wrapping themselves in the cloak of licensed broker dealers licensed by FINRA many of whose documents are given legitimacy by SEC filings.

KBR and Vinay Kumar

The SEC has already indicted Vinay Kumar according to the report cited in the article: http://www.investmentnews.com/article/20141203/FREE/141209968/sec-former-alts-b-d-owner-defrauded-investors-of-900k-in-stock-scam

Chandoke and Shea worked with Kumar to create a series of untraded BDC’s which can be found on the SEC edgar site at:

http://edgar.sec.gov/cgi-bin/browse-edgar?company=vii+peaks&owner=exclude&action=getcompany

In addition to these BDC Chandoke was a lead in soliciting funds for “KBR”. It appears KBR went by several names. Chandoke and Kumar raised millions of dollars for an entity call “KBR” which then disappeared along with Mr. Kumar and the money. KBR business was to solicit investors for the KBR VII Peaks Co-Optivist Income BDC II now renamed to the VII Peaks Co-Optivist Income BDC II. Chandoke has allegedly tried to cover up the “KBR” fraud by getting investors to agree to a pay-off over time and claiming he would vigorously pursue Vinay Kumar. Chandoke allegedly made few if any of the payments nor is there any evidence he pursued Kumar. Rather in 2014 he appointed KBR partner and President Bhavin Shah to the board of directors of VII Peaks Co-Optivist Income BDC II. This is highly suspicious. Also Cecelia Shea served as CFO of both VII Peaks Co-Optivist Income BDC II and KBR Capital Partners, Inc.

Relativity Media:

In April of 2015 Gurpreet Chandoke interviewed for Variety stating that his firm VII Peaks had made a $250m investment in Relativity Media.   See: http://www.hollywoodreporter.com/news/relativitys-ryan-kavanaugh-nears-new-785562

This knowing false public statement was made while Chandoke, Shea, Axciom Capital Management continued to raise funds for their investment vehicles.  Chandoke widely distributed the article to take credit for his investment. In the September 1 2015 article less than five months after the false $250m investment Relativity Media went bankrupt and it was revealed VII Peaks invested $10.4m of their $45.3m in assets i.e. over 20% in a single investment. According to the publication this was in equity not a debt with any standing.  See: http://variety.com/2015/biz/news/obscure-relativity-media-investor-reports-loss-of-10-4-million-1201582839/

This investment seems to at odds with the terms of the prospectus under which the money was raised.  See among other documents on edgar: http://edgar.sec.gov/Archives/edgar/data/1527385/000114420413042648/v351754_497.htm 

For his $10m loss Chandoke was awarded a board of director’s seat on the bankrupt entity according to the artcile. An entity that owed in excess of $1.2B dollars and had under $600m of assets as described in its bankruptcy filing.

Did  Chandoke and Shea act in the interest of their investors ? did they perform no diligence or faulty diligence to become a junior equity investor in a near bankrupt company in exchange for some personal consideration such as Board of Directors seats and media publicity? Failure to perform diligence is an excuse they are trying to use in a counter suit to a fraud and IP theft suit filed against them in 2014 see below.

Alesia Tech, VII Peaks Ventures alleged fraud and trade secret theft

Chandoke, Shea and VII Peaks alleged fraud and pattern of questionable behavior extends to other activities. VII Peaks, Chandoke and Shea were sued in Utah Court Case No: 140908442 for among other things Fraud and intellectual property theft resulting from VII Peaks Venture IV, LLC in investment in BizzBlizz, Inc. a Delaware Company. VII Peaks was the lead investor in the Series A round of BizzBlizz, Inc. However as alleged in the lawsuit they conspired to defraud the company and its investors and create a new company call AlesiaTech, Inc.  VII Peaks counter sued in California under case:CGC  15-544456 in it they make a sworn declaration that they failed to perform diligence and the court should rescind their investment.

VII Peaks Venture Capital was the lead investor of BizzBlizz, Inc. Series A.

Mr Chandoke took great pride in asserting he was the lead investor. Telling numerous external parties as well as reminding BizzBlizz management and BizzBlizz board members. 

The lead investor set the Terms of the round including the valuation and the terms of the securities.

Mr Chandoke and VII Peaks then proceeded to invest in the company on seven occasions over the course of nearly one and one half years. 8/10/2012, 10/25/2012, 12/19/2012, 3/22/2013, 6/25/2013, 7/24/2013, 11/1/2013

Despite this VII Peaks now wants court to rescind their investment to cover their alleged fraud and theft of trade secrets and hiring of key employees into AlesiaTech. What happens to the investors in VII Peaks Ventures IV, LLC?

Other activities and representations of Chandoke and Shea:

Mr Chandoke had in 2010 and 2011 and continued to do so through at least 2013 used his securities licenses to raise capital for companies. Mr Chandoke and Mr. Shea “hung their licenses” with several different brokers during this time period. Chandoke and Shea received compensation as money managers for each of the VII Peaks entities. In total they formed at least six of the entities over the course of 2010-2013. See filings

http://edgar.sec.gov/cgi-bin/browse-edgar?company=vii+peaks&owner=exclude&action=getcompany

Mr Chandoke allegedly represented he ran a $750,000,000 fund. Mr. Chandoke has allegedly made this representation over several years to numerous parties. The fund is document 

http://edgar.sec.gov/cgi-bin/browse-edgar?company=vii+peaks&owner=exclude&action=getcompany

http://edgar.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001527385&owner=exclude&count=40&hidefilings=0

In fact however Mr. Chandoke fund actually holds less than $70m see filings:

http://edgar.sec.gov/Archives/edgar/data/1527385/000114420415042868/0001144204-15-042868-index.htm