Corporate & Securities Law

The attorneys at Eccleston Law are investigating Salman Ibrahim, Mohammad Akbar Zahid, Amjed Mahmood, and Sunrise Equities, Inc., for operating a $43 million Ponzi scheme that defrauded hundreds of victims and several banks in the greater Chicago area. 

Sunrise Equities was purportedly engaged in real estate related investments around the greater Chicago area.  Ibrahim and Zahid allegedly misrepresented that Sunrise was Shariah-complaint, meaning that investors would not be paid interest on their investments, which was prohibited by Islamic law.  Rather, investors would receive monthly payments representing the profit from the real estate ventures. 

The perpetrators solicited and received investors from hundreds of Muslims in Chicago and around the country, promising returns ranging from 15-30%.  

Contrary to the representations made by the perpetrators of this massive affinity fraud, the perpetrators knew that Sunrise was not generating any profits and that some of the investor funds were used to operate non-real estate projects such as a medical sales company.  Moreover, in classic Ponzi scheme fashion, new investor money was used to pay earlier investors creating the illusion that Sunrise was successful. 

Eccleston Law represents individual and institutional investors to recover their investment losses caused by securities and investment fraud. Our attorneys also help victims of Ponzi schemes pursue recovery by submitting claims with receiverships established by the SEC or by assisting victims with the filing of a Theft Loss Tax Deduction with the IRS.

If you have lost money investing with Salman Ibrahim, Mohammad Akbar Zahid, Amjed Mahmood, or in Sunrise Equities, you may be eligible for an immediate theft loss tax deduction.  Under a new IRS safe harbor rule, you may be eligible for an immediate theft loss tax deduction of 95% of your losses, or 75% of your losses if you pursue third-party recovery.  Please contact Jim Eccleston at the Eccleston Law Offices at 312-332-0000 for more details.