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Did You Lose Money in an Account Managed by Former Cetera Investment Advisers Broker Hui Zhang?

Meyer Wilson is investigating allegations that California-based broker and investment adviser Hui Zhang misrepresented in the recommendation of unsuitable, illiquid Real Estate Investment Trusts (REITs), including ARC Healthcare Trust. Zhang currently works for Independent Financial Group, LLC. He previously worked for Cetera Investment Advisers LLC.

Three customer disputes were filed against Zhang in connection with his work at Cetera Investment Advisers LLC. One dispute was settled and two are currently pending. Because non-traded REITs do not trade on a public exchange, the underlying real estate must be sold before investors can get their money back. The lack of liquidity makes them highly risky for investors. Regulators have warned that non-traded REITs are unsuitable for most investors. Healthcare Trust, Inc. (formerly ARC Healthcare Trust) is a non-traded REIT that purchases a portfolio of healthcare related real estate properties.

Investment advisers like Hui Zhang are fiduciaries to their clients and must act only in their clients’ best interests. If you suffered losses as a result of Zhang’s misrepresentation, the experienced securities and investment fraud attorneys at Meyer Wilson are interested in hearing from you. Contact us today for a no-cost, no-pressure consultation to discuss your legal options.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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