State v. Ameen

Elliott, J.:

Asif Ameen appeals his convictions of one count of securities fraud and four counts of theft.

We affirm in part and reverse in part.

Ameen was employed by Primeline Securities, an investment firm which initiated the purchase of stocks and bonds on behalf of clients. All accounts at Primeline were nondiscretionary accounts, meaning action on a client’s account could not be taken without the client’s prior consent. Rauscher Pierce Refsnes (RPR), a clearing firm, made the purchases on behalf of Primeline clients and also transferred money on Primeline’s request.

Nedal Alagha was a…