Advisor Alert: Our Attorneys Are Investigating Chun Mei Zhu For Investment Fraud
Did You Lose Money Because of Chun (Ida) Zhu?
Filed: November 6, 2023
Ida Mei Zhu (also known as Chun Mei Zhu) has been the subject of three (3) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Chun Mei Zhu.
Who Is Chun Mei Zhu of LPL Financial LLC?
- Advisor Name: Chun Mei Zhu
- Aliases: Ida Mei Zhu, Ida Zhu
- CRD: 4863613
- Location: Bellevue, Washington State
- Current Employer: LPL Financial LLC
- Previous Firms: Waddell & Reed
- Number of Known Customer Complaints:3
- Can Chun Zhu Be Sued: Yes, in Private Arbitration
- Can Chun Zhu’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $110,000.
- Highest Settlement: Unknown
If you have suffered investment losses by Chun Zhu, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining an investment fraud lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Chun Zhu For Broker Misconduct
As of this publication date, Chun Zhu has been the subject of 3 customer disputes. Let’s review them below.
In September 2020, a complaint was filed against or in reference to Chun Zhu by a customer of Waddell & Reed alleging that Ms. Zhu unnecessarily switched her from a Nationwide Annuity to a Securian Annuity with less potential for growth and a new surrender period in September 2017. The client is requesting to surrender the annuity with the firm paying the surrender fees. Per the customer, she lost over $26,774 because of Ms. Zhu’s actions.
In July 2017, a FINRA arbitration was filed against or in reference to Chun Zhu by a customer of Waddell & Reed alleging violation of FINRA and NASD Rules; violation of the Washington Securities Act; breach of fiduciary duties; negligence; and violation of the Washington Consumer Protection Act. Per the customer, he/she lost over $50,000 because of Ms. Zhu’s actions. An arbitration panel found that Chun Zhu was negligent and awarded $54,192 in favor of the customers.
In December 2016, a complaint was filed against or in reference to Chun Zhu by a customer of Waddell & Reed alleging that Ms. Zhu misled the client and mishandled her investments resulting in poor performance overall and that Ms. Zhu also mischaracterized a previous retirement account that transferred into an annuity as a non-retirement account, leading to underreported taxes, penalties and interest imposed by the IRS. Per the customer, she lost over $110,000 because of Ms. Zhu’s actions.
How To File A Claim Against Chun Zhu of LPL Financial LLC (previously with Waddell & Reed) To Get Your Money Back.
If you have questions about Chun Zhu, LPL Financial LLC, Waddell & Reed, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.