Shah, Harish – Phoenix, AZ

Under the automatic disciplinary provisions of the Institute’s bylaws, Mr. Shah’s AICPA membership was suspended, effective October 29, 2013, coincident with the duration of the suspension period imposed by the Arizona State Board of Accountancy. Specifically, the state board suspended Mr. Shah’s CPA license until he receives notice that said suspension has been vacated by the Board. The state board’s decision was a result of allegations that Mr. Shah had engaged in acts, practices, and transactions that constitute violations of the Securities Act of Arizona; and allegations of securities fraud for orchestrating a mortgage lending scheme that attracted hundreds of investors by making false and misleading statements about the safety and performance of the investments.