Loves Park Investment Advisor Naseem Salamah Sentenced to 4 Years, 4 Months for Taking $968,000 From Three Clients

Case from 2021–2022 (U.S. Attorney's Office latest release: March 24, 2022). Published on Scammers.com Oct. 16, 2026; case status is current as of that date.

Naseem Salamah, 41, an investment advisor in Loves Park, Illinois, was sentenced March 23, 2022, to four years and four months in federal prison. He took more than $968,000 from the accounts of three customers, according to the U.S. Attorney's Office for the Northern District of Illinois [1]. U.S. District Judge Iain D. Johnston in Rockford also ordered him to pay $968,582.12 in restitution.

How the scheme worked

According to federal prosecutors [1] [2]:

• Between August 2017 and May 2021, Salamah told three customers he needed to move their money to diversify their assets.
• Instead, he deposited the money into a bank account he controlled and used it for himself, without the customers' knowledge or consent.

In a parallel civil case, the Securities and Exchange Commission alleged more [4]:

• The three clients were elderly, and Salamah allegedly chose them because he didn't think they would pay close attention to their brokerage statements.
• He allegedly used fraudulently altered authorization forms to move their money.
• He allegedly spent it on vacations, luxury cars and private school tuition.

Outcome

• Criminal case (No. 3:21-cr-50047, N.D. Ill.): charged by information Sept. 28, 2021 [3] [4]; pleaded guilty to wire fraud Oct. 5, 2021 [2]; sentenced March 23, 2022, to 52 months in prison and $968,582.12 restitution [1].
• SEC civil case (No. 3:21-cv-50371, N.D. Ill.): a consent final judgment entered July 6, 2022, permanently bars Salamah from violating the antifraud provisions of the securities laws. It orders $968,582 in disgorgement plus $92,000 in prejudgment interest, with the disgorgement deemed satisfied by the criminal restitution order [5].

Red flags

• An adviser who wants to move your money "to diversify" into an account or institution you don't recognize.
• Forms you didn't sign, or don't remember signing, authorizing transfers.
• An adviser who discourages you from reading your statements or offers to "handle the paperwork."

What to do

1. Read every brokerage statement and confirm transfers directly with the custodian (the brokerage firm), not through your adviser.
2. Look up your adviser on FINRA BrokerCheck at brokercheck.finra.org and the SEC's adviser search at adviserinfo.sec.gov.
3. Name a trusted contact person on your accounts so the firm can reach someone if it sees warning signs.
4. Report suspected misconduct to the SEC at sec.gov/tcr, FINRA and the Illinois Secretary of State Securities Department.

Case status (as of Oct. 16, 2026)

Defendant	Court	Status as of Oct. 16, 2026	Source
Naseem Salamah, 41, Loves Park, Ill.	N.D. Ill. (criminal)	Pleaded guilty to wire fraud Oct. 5, 2021; sentenced March 23, 2022, to 4 years 4 months and $968,582.12 restitution	[1], [2]
Naseem Mohammed Salamah	N.D. Ill. (SEC civil)	Consent final judgment July 6, 2022: injunction; $968,582 disgorgement plus $92,000 interest (disgorgement deemed satisfied by restitution)	[4], [5]

Sources

1. U.S. Attorney's Office, Northern District of Illinois, "Loves Park Investment Advisor Sentenced to More Than Four Years in Prison for Financial Fraud," March 24, 2022. https://www.justice.gov/usao-ndil/pr/loves-park-investment-advisor-sentenced-more-four-years-prison-financial-fraud
2. U.S. Attorney's Office, Northern District of Illinois, "Loves Park Investment Advisor Pleads Guilty to Fraud Charge for Misappropriating More Than $950,000 in Customer Funds," Oct. 5, 2021. https://www.justice.gov/usao-ndil/pr/loves-park-investment-advisor-pleads-guilty-fraud-charge-misappropriating-more-950000
3. U.S. Attorney's Office, Northern District of Illinois, "Loves Park Investment Advisor Charged With Fraudulently Obtaining More Than $950,000 From Customers," Sept. 29, 2021. https://www.justice.gov/usao-ndil/pr/loves-park-investment-advisor-charged-fraudulently-obtaining-more-950000-customers
4. U.S. Securities and Exchange Commission, Litigation Release No. 25233, "SEC Charges Former Illinois Investment Adviser with Fraud for Misappropriating Client Funds," Sept. 28, 2021. https://www.sec.gov/files/litigation/litreleases/2021/lr25233.htm
5. SEC v. Salamah, No. 3:21-cv-50371 (N.D. Ill.), Final Judgment as to Defendant Naseem Mohammed Salamah, July 6, 2022. https://www.sec.gov/files/judg21-cv-50371salamah.pdf

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