Ex-NYLIFE Securities broker Felix Chu Named in Ponzi Scam Losses

禁止股票经纪人被指控运行庞氏骗局，欺骗了老年投资者

Felix S. Chu是前Nylife证券注册代表，目前面bob200体育临至少两个客户纠纷，在该纠纷中，索赔人正在寻求5,230,000美元的损害赔偿。Chu去年受到金融业监管局（FINRA）的禁止。他被指控经营庞氏骗局involving promissory notes that defrauded investors, including seniors.

Shepherd Smith Edwards和Kantas（Investorlawyers.com的SSBOB体育EK律师事务所）正在调查前Nylife Securities Financial Financial Advisor的前投资者Felix Chu的损失索赔。bob200体育如果您是这些投资者之一，请立即致电（800）259-9010。

Investment Fraud Claims Involving Chu Was From Claimants Who Suffered Promissory Note Losses

According to hisBrokerCheck record, Chu was registered with NYLIFE Securities the entire 24 years he was in the industry until 2019. FINRA barred him last year after he failed to cooperate in the SRO’s probe into customer allegations accusing the ex-NYLIFE Securities broker of promissory note sales violations.

In fact, the four customer disputes noted to date on Chu’s record are related to期票，欠票，欠条, including:

5/2021: These plaintiffs contend that they were persuaded to open up a retirement account in which they placed at least $75K. They also took out $70K to invest in a promissory note and opened up a joint bank account. They claim that money was taken out, they loaned money and were never paid back. They are requesting $230K in damages.
4/2021: Alleging violation of theCalifornia Elder Abuse Act，疏忽，虚假陈述，违反信托义务，欺诈和违反合同，这位年长的客户正在寻求500万美元的赔偿。
10/2019：这位索赔人辩称，她和她的丈夫被误导到购买3万美元的期票。他们还说，他们写了一张75,000美元的支票，他们被误导到思考是为了获得更多保险。这项投资者欺诈索赔以125,000美元的价格解决。
8/2019：指控本票欺诈，该FINRA仲裁案以25万美元的和解总结。

Felix Chu和他的儿子被指控犯有与期票有关的庞氏骗局

Felix Chu has been accused of recommending that customers invest in a Ponzi scam involving promissory notes so that he could earn high commissions and income for himself. His son Derek Chu, also a former NYLIFE Securities broker, has been accused of involvement in this scheme.

FINRA barred Derek from the industry in 2015 a few months after the broker-dealer fired him. According to BrokerCheck, a customer dispute involving promissory notes that named Derek Chu was brought in 2019 and is still pending. The claimant is seeking nearly $837K in damages.

This alleged Ponzi-like scam involving promissory notes involving Felix Chu and his son appears to have involved Felix promoting the latter’s purportedly successful sports ticket resale business. He touted the venture as safe and likely to generate 15% yearly returns. Their victims then invested in promissory notes issued by Derek Chu.

Unfortunately, investors’ money appears to have been used to pay other investors’ interest and principal payments in a Ponzi-like fashion. The money also was allegedly used to fund the Chus’ lavish lifestyle.

Skilled FINRA Arbitration Lawyers

纽约LIFE Securities has been accused of无法正确监督和not conducting any due diligence to make sure that these promissory notes were legitimate and safe investments for its customers. SSEK Law Firm represents investors in pursuing damages from their financial advisors and broker-dealers through FINRA arbitration.联系我们today and request a free case consultation.