Advisor Alert: Our Attorneys Are Investigating Narongdej “Jay” Jaroensabphayanont For Investment Fraud
Did You Lose Money Because of Jay Jaroensabphayanont (previously with Voya Financial)?
Filed: October 24, 2023
Narongdej “Jay” Jaroensabphayanont currently has been the subject of three (3) regulatory events and 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 Narongdej “Jay” Jaroensabphayanont.
Who Is Narongdej “Jay” Jaroensabphayanont?
- Advisor Name: Narongdej “Jay” Jaroensabphayanont
- Aliases: Jay Jaroensabphayanont, Narogdej Jaroensabphayanont
- CRD: 5393272
- Location: Bellevue, Washington
- Current Employer: No Longer Allowed to Practice in the Securities Industry
- Previous Firms: Voya Financial Advisors, Inc. and Intersecurities, Inc.
- Number of Known Customer Complaints: 2
- Number of Known Regulatory Events: 3
- Can Narongdej Jaroensabphayanont Be Sued: Yes, in Private Arbitration
- Can Narongdej Jaroensabphayanont’s Employers Be Sued For Failing to Supervise His Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $47,000
- Highest Settlement: $35,000
If you have suffered investment losses by Narongdej Jaroensabphayanont, 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 Narongdej Jaroensabphayanont For Broker Misconduct
As of this publication date, Narongdej Jaroensabphayanont has been the subject of 3 regulatory events and 2 customer disputes. Let’s review them below.
In February 2023, FINRA suspended Mr. Jaroensabphayanont for failing to comply with an arbitrary award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
In May 2022, a FINRA arbitration was filed against or in reference to Narongdej Jaroensabphayanont alleging that Mr. Jaroensabphayanont violated the Securities Act of Washington, the Washington Unfair Business Practices – Consumer Protection Act, breach of fiduciary duty, recommending unsuitable investment, and negligence in soliciting the sale of unsuitable securities. Per the customers, they lost over $26,250 due to Mr. Jaroensabphayanont’s actions. On December 9, 2022, Mr. Jaroensabphayanont was declared liable and shall pay to claimants the total of $53,768.34 for compensatory damages, interest amount, attorney’s fees, costs, and punitive damages.
In September 2021, State of Washington Dept. of Fin. Inst. initiated regulatory action against Mr. Jaroensabphayanont for violating the registration and anti-fraud provisions of the Securities Act of Washington through the sale of at least $200,000 of promissory notes to six Washington investors. The Final Order further concludes that Jaroensabphayanont engaged in dishonest and unethical practices in the securities business at the time he was registered as a securities salesperson in Washington State when he deceived investors, sold away, and borrowed funds from a customer. Mr. Jaroensabphayanont also failed to comply with an arbitrary award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. The sanctions ordered were Cease and Desist and Civil and Administrative Penalty(ies)/Fine(s) amounting to $60,000.
In February 2021, a FINRA arbitration was filed against or in reference to Narongdej Jaroensabphayanont by multiple customers of Voya Financial Advisors, Inc. alleging that Mr. Jaroensabphayanont sold them multiple “structured investment products” in which they invested $48,000 between November 2015 and September 2019. The clients added that these purchases were conducted away from the Firm and claimants also allege their investment is now gone and the money taken by Mr. Jaroensabphayanont. Per the customers, they lost over $47,000 due to Mr. Jaroensabphayanont’s actions. On May 10, 2022, Mr. Jaroensabphayanont settled the claim for $35,000, and some or all of this amount may have been paid by Mr. Jaroensabphayanont’s employer and/or insurance carrier.
In September 2020, FINRA suspended Mr. Jaroensabphayanont for failing to respond to FINRA request for information.
How To File A Claim Against Narongdej “Jay” Jaroensabphayanont (previously with Voya Financial Advisors, Inc. and Intersecurities, Inc.) To Get Your Money Back.
If you have questions about Narongdej Jaroensabphayanont, Voya Financial Advisors, Inc., Intersecurities, Inc., 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.