Published On: July 27, 2015

The Financial Industry Regulatory Authority (FINRA) recently sanctioned and barred David Chu, over allegations that he was involved in outside business activities and private securities transactions. These activities are sometimes referred to as “selling away” and this is when a broker solicits clients to make investments in securities that are not held or offered by his firm. Chu was accused of soliciting investments in other companies and promissory notes while employed with NYLife Securities in Irvine, California. Chu was employed with NYLife from August 2007 until April 2008. He is no longer licensed within the industry. If you lost money with David Chu, you may be entitled to recover your investment losses by suing his former firm, NYLife Securities. They had a duty to properly supervise him while he was employed there and can be sued in the FINRA arbitration forum. Please call us at 312-332-4200 to speak with an attorney. The call is free.

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Chicago Investment Fraud Attorneys Offering Nationwide Representation to Investors

If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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