David M. Scanlan, Secretary of State, notifies the public of the following administrative action against Royal Investments and Kevin Patel of Pelham, New Hampshire, and requests anyone that has made investments with Royal and Patel to contact the Bureau of Securities Regulation.

The New Hampshire Secretary of State, Bureau of Securities Regulation, has administratively moved to bar Royal Investments, LLC (“Royal”) and Kevin Patel (“Patel”) from conducting any securities business in the State of New Hampshire.

This case revealed that the company operated in an unlicensed fashion, committed fraud and violated a prior cease and desist order. The Bureau alleges that Royal and Patel took in $386,000 in investor funds from November 2023 to August 2024, with a promise to return the principal plus high interest in quarterly payments and in some cases promised interest over 30%.

The payments to the investors stopped by March 2025 leaving over $300,000 not paid back. Royal and Patel told the investors that they could make the money owed back in the stock market, however records show that they actually lost money in the market.

The main focus of the Bureau’s case is that Royal and Patel are not licensed investment advisors or broker-dealers, yet they held themselves out as recommending to the investors that they give them money to invest in the market with the promise of making a high return, and Royal and Patel traded a brokerage account for compensation when they were not licensed to do so.

The Bureau is requesting that Royal and Patel be permanently barred from any securities business, pay restitution to the investors, pay fines and costs of the Bureau’s investigation. Both Royal and Patel had a previous Order against them in 2021 that ordered them to cease and desist from violating the Uniform Securities Act for advertising the sale of unregistered securities. Royal and Patel are entitled to request a hearing to contest the Bureau’s allegations.