Karen Paek Allegedly Submits Fictitious Annuity Applications

The law firm of Oakes & Fosher is presently investigating the alleged misconduct of former securities broker Karen Paek. According to her publicly available FINRA BrokerCheck report, Karen Paek has been the subject of a FINRA sanction.

Karen Paek was a California based securities broker. She worked in the securities industry for six years. During her career, she was registered with just two different securities firms.

Her Registrations

• First Investors Corporation (2011-2015)


• Pruco Securities (2015-Present)

The Allegations

Karen Paek was officially sanctioned by FINRA in August 2019. The findings in this matter state that Paek created and signed fictitious applications for variable annuities for multiple customers. These customers had no idea that Paek was purchasing these variable annuities on their behalf and thus, the annuities were never funded. Karen Paek allegedly received approximately $23,000 in advance commissions for the fictitious applications. Karen Paek had been discharged from her position at Pruco Securities one year and a half prior when the allegations first came to light. Due to these alleged actions, Karen Paek 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 Karen Paek, please contact Oakes & Fosher for a free and private consultation.