Jennifer Ling Allegedly Fails To Adequately Disclose Risks Associated With Promissory Note Investments

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

Jennifer Ling was a New York-based securities broker. She worked in the securities industry for thirteen years. During her career, she was registered with three different securities firms. She is no longer working as a registered securities broker in any fashion.

Her Registrations

• Charles Schwab & Co. (2000-2005)


• Fidelity Brokerage Services (2005-2011)


• Axiom Capital Management (2015-2017)

The Allegations

• In June 2016, customers alleged that Jennifer Ling managed their account negligently, committed fraud, and made negligent misrepresentations about promissory note investments issued by Aequitas Commercial Financial. This case was settled for $134,250 in damages.


• In November 2017, a customer alleged that Jennifer Ling managed their account negligently, made material misrepresentations and omissions of material fact, breached her fiduciary duty, and breached contract. This case was settled for $100,000 in damages.


• In September 2018, a customer alleged that Jennifer Ling breached her fiduciary duty, committed constructive fraud, and violated the California corporations code. This case was settled for $10,000 in damages.


• In February 2019, customers alleged that Jennifer Ling failed to adequately disclose the risks associated with promissory note investments. This case was settled for $46,500 in damages.


• In February 2020, a customer alleged that Jennifer Ling breached her fiduciary duty and violated FINRA rules and California law concerning the purchases of private placements. This case is currently pending. The customer is currently seeking $100,000 in damages.

Promissory Notes

Promissory notes are a type of private investment that are unsuitable for most investors. They are issued by private companies, often ones looking to expand in some fashion, to individuals in exchange for a loan. The issuing party then "promises" the lending party they will repay them a certain amount. Some less than scrupulous securities brokers will take advantage of how poorly regulated these products are as an opportunity to misrepresent them to unsuspecting investors. They will accomplish this by falsely stating that these promissory notes are safer than purchasing actual equities. They claim that since the investor is "promised" back a certain amount that the investors do not need to concern themselves with the success of the issuing security. This is completely untrue. It is a very real possibility that companies that issue promissory notes can fail in their ventures. When this occurs, the issuing companies default on their issued notes and the investors are then left with a worthless investment.

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 Jennifer Ling, 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.