Former Seattle Investment Advisor Pleads Guilty to Fraud
Satyen Chatterjee, a former investment advisor from Seattle, recently pled guilty to wire fraud. According to the Sky Valley Chronicle and Seattle Times, Chatterjee pled guilty in the U.S. District Court in Seattle. Chatterjee owned and operated an investment advisory firm called Strategic Capital Management, Inc. It was alleged that at least five victims lost at least $600,000. Sentencing for Chatterjee is set for August 20, 2015, which will take place at the U.S. District Court in downtown Seattle.
Chatterjee was alleged to have induced victims to invest in purported “fixed income” investments. However, Chatterjee simply transferred the money to his own personal bank accounts. He also solicited clients to invest in Metamune, Inc., but again he simply just transferred the investors’ money to his own accounts.
Chatterjee was once a professor at the University of Washington Business School, also located in Seattle. The school also has locations in Kirkland. It is not believed that Chatterjee’s conduct was done while he was a professor at the university.
The case was investigated by the FBI and the Washington Department of Financial Institutions.
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