$1.5 Million Arbitration Claim Against Independent Financial Group Broker Lei Shen

Broker Lei Shen Facing Allegations of Unsuitable Investment Recommendations

At Meyer Wilson, we recognize the paramount importance of trust and professionalism in the realm of investment advisory services. It’s crucial to be vigilant and conduct thorough due diligence, especially in light of recent events concerning a stockbroker, Lei Shen, facing serious allegations.

Lei Shen Case Spotlight: Understanding the Risks

A stockbroker, Lei Shen (also known as Peter Shen), formerly associated with Independent Financial Group in Orange, California, is currently embroiled in a customer-initiated securities arbitration claim under the Financial Industry Regulatory Authority (FINRA). The claim, demanding $1,500,000.00 in damages, arises from allegations of unsuitable investment recommendations and overconcentration in business development companies (BDCs) and real estate investment trusts (REITs) during Shen’s tenure at Independent Financial Group LLC.

Previous Allegations and Settlements

• A complaint settled for $15,000.00 in damages was filed against Shen for allegedly promising a 20 percent return in one year, with principal protection, in connection with the sale of real estate securities during his association with Cetera Investment Services LLC.
• Another FINRA securities arbitration claim was settled for $625,000.00 in damages, based on allegations that Shen made unsuitable recommendations in REITs while associated with Independent Financial Group LLC.

These incidents underscore the complexities and risks inherent in investment strategies, particularly those involving REITs and BDCs, and highlight the need for expert guidance in financial litigation.

How Meyer Wilson Can Help

At Meyer Wilson, we are committed to upholding the highest standards of integrity and professionalism in FINRA Arbitration. If you or someone you know has been affected by unsuitable investment recommendations or any form of investment misconduct, our experienced team is here to provide the guidance and support you need to navigate the complexities of securities arbitration and litigation.

For more information or to discuss your case, please do not hesitate to contact us at 866-938-2021 or visit our website. Remember, you are not alone in this. Meyer Wilson is here to advocate for your rights and interests, ensuring that justice is served.

Written By: Courtney Werning