Advisor Alert: Our Attorneys Are Investigating George Ly For Investment Fraud
Did You Lose Money Because of George Ly?
Filed: October 30, 2023
George Ly has been the subject of two (2) 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 George Ly.
Who Is George Ly of LPL Financial LLC?
- Advisor Name: George Ly
- Aliases: George Ly
- CRD: 4630985
- Location: La Mirada, California
- Current Employer: LPL Financial LLC
- Previous Firms: Cetera Investment Advisers LLC and Cetera Investment Services LLC
- Number of Known Customer Complaints: 2
- Can George Ly Be Sued: Yes, in Private Arbitration
- Can George Ly’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $600,000
- Highest Settlement: $700,000
If you have suffered investment losses by George Ly, 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 George Ly For Broker Misconduct
As of this publication date, George Ly has been the subject of 2 customer disputes. Let’s review them below.
In October 2020, a FINRA arbitration was filed against or in reference to George Ly by multiple customers of Cetera Investment Advisers LLC alleging that certain alternative investments they purchased at a different broker-dealer approximately 7 years ago were unsuitable because they were allegedly not federally insured or low risk, as allegedly represented to plaintiffs. plaintiffs contend that these allegations also constitute elder abuse. Per the customers, they lost over $600,000 because of Mr. Ly’s actions. On December 13, 2021, Mr. Ly settled the claim for $700,000, and some or all of this amount may have been paid by Mr. Ly’s employer and/or insurance carrier.
In August 2019, a complaint was filed against or in reference to George Ly by a customer of Cetera Investment Advisers LLC alleging misrepresentation. Per the customer, he/she lost over $5,000 because of Mr. Ly’s actions. On January 14, 2021, Mr. Ly settled the claim for $85,000, and some or all of this amount may have been paid by Mr. Ly’s employer and/or insurance carrier.
How To File A Claim Against George Ly of LPL Financial LLC (previously with Cetera Investment Advisers LLC and Cetera Investment Services LLC) To Get Your Money Back.
If you have questions about George Ly, LPL Financial LLC, Cetera Investment Advisers LLC, Cetera Investment Services LLC, 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.