Over the last 12 years, Oakes & Fosher has tried and won more FINRA arbitration cases on behalf of individual investors than any other law firm in the country.

*Past results do not guarantee a similar outcome. The choice of a lawyer is an important decision and should not be based alone on prior results.

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

Felix Chu was a California based securities broker. He worked in the securities industry for twenty-four years. He spent his entire career registered with just NYLIFE Securities. He is no longer working as a registered securities broker in any fashion.

The Allegations 

  • In August 2019, customers alleged that Felix Chu misled them into purchasing unsuitable promissory notes. This case is currently pending. The customers are seeking $836,950 in damages.
  • In October 2019, a customer alleged that she and her late husband were misled by Felix Chu unto purchasing unsuitable promissory notes. The customer also alleged that Felix Chu misappropriated an additional $75,000 that the customers believed was going to purchase additional insurance.

What Does This Mean?

Promissory notes can often be unsuitable for investors. Investors that purchase these notes have officially become lenders. Their investment has served as financing for another entity and the promissory note details how much, and when, the investor is to be paid back. However, these notes often carry more risk than brokers might let on. While investing in equities, investors can monitor their portfolio’s worth and redeem their shares at any such time that they need to. However, promissory notes can be much more deceiving. The investors have a certain number in their head that they believe they will be receiving, that of principal plus interest; however, so many things can go wrong with the other party that prevents them from repaying the debt. This means the investor can be out large sums of money without any actual warning or knowledge.

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 Felix Chu, please contact Oakes & Fosher for a free and private consultation. We work on a contingency basis, which means there are no fees charged unless we collect for you.