Recently, the Securities and Exchange Commission (SEC) barred Chen from the securities industry, alleging that she participated in a pyramid scheme. The scheme was called CKB186 and it targeted the Asian American community between May 2012 and August 2013. She told the investors that their investments were in an internet-based company that sold children’s books. Chen pled guilty to a related criminal matter in March 2016. Ms. Chen was a former registered representative of TransAmerica Financial Advisors Inc., working out of a branch office in Alhambra, California during the time. She no longer is registered with any firm. Firms such as TransAmerica have a duty to reasonably supervise advisors like Toni Chen while they are registered there. If they do not, they could be liable for losses that investors suffer. Please call our law firm to speak to an attorney for free to determine whether or not you may have a claim to bring against TransAmerica for Ms. Chen’s transgressions.
According to her online Financial Industry Regulatory Authority (FINRA) BrokerCheck report, Ms. Chen was registered with WMA Securities in Duluth, Georgia from December 1996 until April 2002, World Group Securities in Duluth from April 2002 until January 2012 and TransAmerica Financial Advisors in St. Petersburg, Florida from January 2012 until August 2012. She has three customer disputes against her. She is not licensed and both FINRA and the SEC have permanently barred her from the industry.
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