Written by The White Law Group• November 21, 2019• 8:41 pm• Current Investigations

Joseph Viet Duy Phan Broker Investigation

Financial Advisor Joseph Viet Duy Phan, Pruco Securities in Irvine, California

Are you concerned about investments with Joseph Viet Duy Phan in Irvine, California? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority, on November 20, the regulator has reportedly barred financial advisor Joseph Viet Duy Phan after he apparently failed to appear for testimony in FINRA’s investigation into his recent alleged dismissal from his member firm.

According to his FINRA BrokerCheck report, Phan was reportedly affiliated with Pruco Securities in Irvine, California from 2007 until 2018, when he was allegedly dismissed after he “borrowed money from two clients without Firm approval, and attempted to deposit a client’s insurance premium check into the Registered Representative’s personal bank account.” Phan reportedly has one customer complaint on his broker profile for the above allegations.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Phan’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as borrowing money from clients or misappropriating clients’ funds, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration.

Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including California. Our attorneys have recovered millions of dollars from many brokerage firms in the past.