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Written by 7:30 pm Blog, Current Investigations

Sean Zhang, Wells Fargo Advisor, Barred from the Securities Industry

Sean Zhang, Wells Fargo Advisor, Barred from the Securities Industry featured by top securities fraud attorneys, The White Law Group

Broker Sean Zhang’s Customers allege Unsuitable Investment Recommendations & Misrepresentation

According to the Financial Industry Regulatory Authority (FINRA), the regulator barred financial advisor XIANGYU YU ZHANG “Sean Zhang” (CRD#: 5050282) on May 28, 2020 after he allegedly failed to comply with an arbitration award or settlement agreement or to respond to a FINRA request to provide information concerning the status of compliance.

According to FINRA’s findings, Zhang had already allegedly been suspended in April 2019 after  his member firm, Wells Fargo dismissed him for allegations of “violating company policy requiring that he maintain accurate books and records where he submitted altered documents for processing.”

Wells Fargo reportedly filed an arbitration suit against Zhang on September 9, 2019 for allegations of “breach of a promissory note; common count for money lent; common count for account stated; and unjust enrichment.”

The FINRA panel reportedly found in favor of Wells Fargo ordering Zhang to pay the firm $1,419,549.36 plus interest.

According to Zhang’s broker report, he was reportedly affiliated with Wells Fargo in Alhambra, CA from 2017 until 2019. He also purportedly worked for Cetera Investment Services in Arcadia, CA for 7 years. His broker profile indicates a history of alleged broker misconduct including 6 customer complaints and 2 employee separations in addition to the regulatory actions.

Potential Lawsuits to Recover Financial Losses

If you suffered losses investing with Sean Zhang, the attorneys at The White Law Group may be able to help you by filing a FINRA Arbitration claim against his employers. For a free consultation, with a securities attorney please call (888) 637-5510.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois. For more information on our firm, please visit www.whitesecuritieslaw.com.




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