Articles Tagged with Financial Advisor Misconduct Attorney

Are You A Victim of Investment Adviser Fraud? SEC Accuses Upright Financial Group and Founder David Yow Shang Chiueh Of Defrauding Investors of $1.6M

If you believe you were the victim of investment adviser fraud, contact Shepherd Smith Edwards and Kantas Financial Advisor Misconduct Attorney (investorlawyers.com) today. We are looking into allegations that RIA Upright Financial Corp., its Upright Investments Trust, and found David Yow Shang Chiueh not only defrauded investors of $1.6M but also violated a settlement agreement with the US Securities and Exchange Commission (SEC).

Upright and Chiueh reached a settlement agreement with the regulator a few years ago over allegations that the RIA firm and its founder made investments not in line with its classification as a diversified investment company and its own concentration policy. Instead, per the SEC’s investigation, over 25% of their Upright Growth Fund’s assets were invested in one industry over several years. This is known as overconcentration and can lead to serious investment losses.