Arif Bhalwani Pinnacle – Fraud, Ponzi Schemes and Other Crimes

Arif Bhalwani Pinnacle is a fraudster and a Ponzi schemer involved in multiple illegal operations. Recent investigations have revealed the various shady activities of this scammer.

Before you consider doing business with Arif Bhalwani Pinnacle or any of his current ventures, it would be best to go through the revelations made below.

This way, you would have a better idea of just how dangerous this scammer is.

Here’s a snippet of the media coverage on Arif’s illegal activities:


More on him below:

About Arif Bhalwani Pinnacle – What His Marketers Claim Him to Be:

This section contains the promotional claims made by Arif Bhalwani Pinnacle’s PR team. Hence, read it with a grain of salt.

Arif Bhalwani Pinnacle

Arif is a Director, Chairman, President, Chief Executive Officer, Managing Director, Secretary, Treasurer, and Portfolio Manager of Third Eye Capital Management (“TECM”), and a member of the Credit Committee of Third Eye Capital Corporation (“TECC”). He is also a founder, Managing Director, and President and Chief Executive Officer of TECC, an affiliate of TECM, which is a specialized and experienced originator, servicer, and manager of senior, secured commercial loans including, without limitation, working capital revolving lines of credit, fixed asset term loans, mortgages, leases, acquisition financing, deferred sales contracts, and structured credits. Arif was previously a co-founder of Pinnacle Capital, an early-stage venture capital firm, and its credit affiliate.

Arif Bhalwani Pinnacle is a Director of the Bhalwani Family Charitable Foundation, which invests in human potential and the improvement of quality of life for children, immigrants, and marginalized communities. The Foundation sponsors research and programs that are underfunded or overlooked but can deliver meaningful impacts quickly.

About Third Eye Capital

third eye capital

Third Eye Capital is one of Canada’s leading alternative capital providers to good businesses in transition or in unusual circumstances. We offer a one-of-a-kind blend of tailored financing and value-added operational expertise, ensuring that our portfolio companies have full access to our resources, relationships, and experience. We champion your success and help get you to your business milestones quickly and with confidence.

These are scammers who promise unrealistic guaranteed returns by pretending they have access to very exclusive, hush-hush deals offered by major banks. They operated through various vehicles, the main one was called Learn Waterhouse Inc.

The receiver went to great lengths to document what happened to the funds. According to early receiver reports, bank records show $1.5 million in total transfers to Arif’s Pinnacle Merchant Capital. Whether right or wrong, the receiver characterized the alleged transfers as a “possible investment” by Learn Waterhouse. Even if Pinnacle or any other entity associated with Arif received money from a Ponzi scheme (directly or indirectly), this does not necessarily imply any wrongdoing by Pinnacle & Co. Ponzi schemes can conduct both legitimate and illegitimate transactions.

Arif Bhalwani Pinnacle

Innocent bystanders, innocent counterparts, or accomplices may be present. Receivers are serious experts who are dropped into dangerous situations to find the truth while it is obscured by fog. They frequently issue multiple reports in rapid succession, reflecting their iterative pursuit of the truth. Even when they are under court supervision, they are human and can make mistakes. Although the majority of our piece is about Arif Bhalwani, the receiver looked into a much smaller group of topics. Remember those disclaimers. Here’s an early receiver’s report that mentions Pinnacle.

According to early reports, Arif, acting through a different company called Tamarind Global Investments, collaborated with “Knight Crest” and “Gagnon & Gagnon” on a second set of payments totaling $2.32 million. Tamarind was one of the people accused of receiving the money through a law firm.

Tamarind is a company registered in the British Virgin Islands that Arif Bhalwani Pinnacle reportedly controls, according to previous SEC investment statements. The receiver was turned on in November 2004. As of the sixth update from the receiver in June 2006, Pinnacle and Tamarind appear to have received money from the scam, but the receiver is unsure why (20 months after the initial SEC action). The passages that mention Tamarind Global and Pinnacle are listed below.

Arif Bhlawani Pinnacle
Arif Bhalwani Pinnacle

Some documents are missing from the docket, which we attribute to poor archival practices at the start of the digital era. In any case, the receiver’s findings may be preliminary and inconclusive. The receiver, in particular, may be completely incorrect in characterizing one transfer as a “possible investment.” As a result, we had to turn to Arif for answers.

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According to allegations, the payoffs made by the Arif entities were close enough to the frauds to draw him into the subsequent investigation and/or legal action.

It is impossible to say whether Arif Bhalwani Pinnacle was an unintentional bystander or a conscious co-conspirator in these events. Arif Bhalwani Pinnacle claims the first. At the very least, these occurrences cast doubt on his ability to assess the sincerity and moral character of his business partners.

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Many docket documents are missing, which we attribute to poor archival procedures used at the beginning of the digital era. In any case, the receiver’s conclusions may be preliminary and not final. When the recipient refers to one transfer as a “potential investment,” he may be completely wrong. As a result, we had to seek clarification from Arif.

Statement by Arif Bhalwani Pinnacle’s lawyers– 

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Arif Bhalwani Pinnacle was Involved with Several Criminals:

According to allegations, the payoffs made by the Arif entities were close enough to the frauds to draw him into the subsequent investigation and/or legal action. It is impossible to say whether Arif was an unintentional bystander or a conscious co-conspirator in these events. Arif Bhalwani Pinnacle claims the first. At the very least, these occurrences cast doubt on his ability to assess the sincerity and moral character of his business partners.

In 2003, Florida mortgage broker Jack Pentz was found guilty of defrauding a private investor of $8 million. Jack was sentenced to 12 years in prison for six counts of wire fraud and money laundering.

Jack’s prey was a retired businessman. In the late 1990s, Jack pretended to broker mortgage agreements but spent the investor’s money on condos and plastic surgery rather than Bentleys. Lauri Smith, a former business associate, was blamed for the fraud, according to Jack.

This was somewhat convenient given that Lauri Smith had been discovered dead in a hotel room in San Diego, her body covered in bruises from what appeared to be a fight, and she had cocaine in her system.

Arif Bhlawani Pinnacle
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Arif Bhalwani Pinnacle refuted the plaintiff’s claims. His Borden & Elliot attorney, he claims, reviewed and approved his contact with Trinity (now BLG). They had no way of knowing about Trinity’s trading activity or that Pentz’s deception was the source of Trinity’s funds.

Pinnacle set up a loan for Trinity to invest in a gold mine. Pinnacle met its contractual obligations by bringing a credit facility from a “top fifty bank in the world” to the table. As a result, Pinnacle was entitled to its $1.6 million fee. In reality, the loan was never paid off, but Arif blames Trinity for that.

Arif Bhalwani Pinnacle had ties to some unsavory characters. Trinity, Pinnacle, and Borden & Elliot all made mistakes in their evaluations. Remember Kenneth C. Nunn of Trinity, the man with whom Arif signed that “gobbledygook” contract? The SEC identified Kenneth C. Nunn as the “central person” in a “prime bank securities fraud investigation” in 2001. (As far as we know, unrelated to Arif Bhalwani).

The SEC received a summary judgment in this case. Nunn was charged with soliciting US promoters and misrepresenting the ability of his prime bank trading program to pay 15% per month for a full year. In other cases, he would claim to be making 20% WEEKLY.

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