Fariba Ronnasi: Ex-Elite Wealth Advisor Faced Complaints, Theft Charge

Former Kirkland, Washington financial advisor Fariba Ronnasi (CRD# 4135998) has been charged with one count of felony theft in the first degree in King County, Washington. Financial Industry Regulatory Authority and Securities and Exchange Commission records show that she was most recently registered as an investment advisor with Elite Wealth Management, while her website describes her as CEO of D&R Family Office.

Ms. Ronnasi’s Investment Adviser Public Disclosure form discloses the pending criminal charge against her. Filed in the Superior Court of Washington for King County, it alleges one count of theft in the first degree. She has pleaded not guilty to the pending charge.

In a statement included with the disclosure, she writes that she was scammed by a woman she hired to assist with her mother. “The scam caused a $17,000 financial loss to TJ Maxx and I was set up to be the ‘fall-guy,'” she states. “My lawyer is actively working with the King County Prosecutor’s Office to explain the scam and have the case dismissed.”

Her IAPD form also discloses several investor complaints. The most recent, filed in 2017, alleged that as a representative of Elite Wealth Management, she breached her fiduciary duty, engaged in unjust enrichment, and breached contract in connection with private investments made in 2015. In 2018 the complaint reached a settlement of $600,000.

A second investor complaint, also filed in 2017, similarly alleged breach of fiduciary duty, securities law violations, and negligence in connection with private fund investments. The complaint evolved into an arbitration proceeding before a JAMS panel, which issued an award to the customer of more than $1.1 million.

A third investor complaint, filed in 2016, also alleged breach of fiduciary duty relating to private fund investments. This complaint reached a settlement of $809,445.71.

A fourth investor complaint, filed in 2016, alleged breach of fiduciary duty and violation of the Washington State Securities Act in connection with private fund investments. The complaint reached a settlement of $311,409.23.

In statements included with each complaint’s disclosure, Ms. Ronnasi wrote that the complaints related to an alleged fraud by Aequitas Commercial Finance, “with which [she] has no employment or personal contractual affiliation.”

According to the Securities and Exchange Commission, Fariba Ronnasi holds 16 years of securities industry experience. Most recently based in Kirkland, Washington, she was registered as an investment advisor with Elite Wealth Management from 2007 until 2023. She was previously registered with Lattice Capital Management from 2012 until 2014. According to her FINRA BrokerCheck report, she has passed the General Securities Representative Examination, or Series 7, and the Uniform Combined State Law Examination, or Series 66. (Information current as of April 14, 2025.)

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