The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Jun Zhou. According to her publicly available FINRA BrokerCheck report, Jun Zhou has been the subject of a FINRA sanction.
Jun Zhou was a Colorado based securities broker. She worked in the securities industry for thirteen years. During her career, she was registered with just two different securities firms. She is no longer working as a registered securities broker in any fashion.
Her Registrations
- Farmers Financial Solutions (2004-2015)
- The Leaders Group (2015-2018)
The Allegations
Jun Zhou was officially sanctioned by FINRA in November 2019. The findings in this matter state that Jun Zhou executed over $16 million of private securities transactions outside her member firm’s scope. This was allegedly done without authorization from her member firm. Jun Zhou allegedly received almost $200,000 in compensation for her part in these transactions.
According to FINRA, Jun Zhou sold customers both equity shares and promissory notes of unapproved non-traded REITs. She did this both individually and through a real estate company she set up. Zhou provided no notice to her member firm that she owned this business and was using it to offer shares and notes of private investment pools to member firm customers. Due to these alleged actions, Jun Zhou was barred by FINRA from acting as a securities broker in any fashion.
What Does This Mean?
Securities brokers are not allowed to engage in any private securities transactions outside their member firm’s scope without disclosing said involvement. Outside investments can often create significant conflicts of interest for securities brokers, which can lead to brokers recommending investments to customers that are woefully unsuited for them. It is the job of the securities firm to prevent their customers from being harmed in this fashion. The fact that a broker does not disclose what they are doing does not free the firm from liability. They have a duty to their customers to adequately supervise their registered brokers and prevent them from harming investors in this 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 Jun Zhou, 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.
