Chad Hornaday Allegedly Embezzles Customer Funds

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Chad Hornaday. According to his publicly available FINRA BrokerCheck report, Chad Hornaday has been the subject of multiple customer disputes.

Chad Hornaday was a California based securities broker. He worked in the securities industry for twenty years. During his career, he was registered with eight different securities firms. He is no longer working as a registered securities broker in any fashion.

His Registrations

• Washington Square Securities (1996, 2000-2002)


• Sentra Securities Corporation (1997-2000)


• Plainmember Securities Corporation (2003-2004)


• Worthmark Financial Services (2004-2006)


• Independent Financial Group (2006-2009)


• National Planning Corporation (2009-2013)


• AXA Advisors (2013-2016)

The Allegations 

In June 2017, a customer alleged that Chad Hornaday solicited personal loans, embezzled funds by selling fictitious and unregistered securities, engaged in "selling away" from his member firm, and made unsuitable investment recommendations. This case was settled for $250,000 in damages. He resigned from his position at AXA Advisors when these allegations first came to light. During a FINRA investigation into the matter, Chad Hornaday allegedly failed to comply with their request for information and was barred by FINRA from acting as a securities broker in any fashion.

Oakes & Fosher Can Help

Many investors are unaware of the legal recourse available to them after losing money due to securities broker fraud and/or negligence. The truth is that investors who have lost money in this fashion may actually be entitled to damages.

Oakes & Fosher dedicates its entire legal practice to helping investors across the nation. If you, or someone you know, have lost money investing with Chad Hornaday, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, which means there are no fees charged unless we collect for you.