Li-Lin Hsu Has Received Three FINRA Sanctions

Myriad GeneticsPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on April 25, 2018, as well as a news report published on April 23, 2018 indicate that former California-based Ameriprise broker/adviser Li-Lin Hsu has been sanctioned by FINRA, barred from acting as a broker, and arrested in connection with an alleged embezzlement scheme. Fitapelli Kurta is investigating allegations of misconduct against Ms. Hsu (CRD# 4706509).

Li-Lin Hsu has spent nine years in the securities industry and was most recently registered with Ameriprise Financial Services in Los Angeles, California (2006-2015). She was previously registered with Ameriprise Financial Services in Minneapolis, Minnesota (2005). She has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which she obtained on May 1, 2006; Series 65 (Uniform Investment Adviser Law Examination), which she obtained on April 14, 2006; and Series 7 (General Securities Representative Examination), which she obtained on November 18, 2005. She is currently not registered with any state, firm, or self-regulatory organization (SRO).

According to her BrokerCheck report and news reports, she has received three FINRA sanctions and one customer complaint, and she was recently arrested in connection to alleged embezzlement of customer funds.

A Financial Planning report published on April 23, 2018 states that Li-Lin Hsu was arrested by the FBI in connection to allegations she embezzled at least $2 million from her customers. Federal prosecutors allege she “solicited her victims through ads in local Chinese language newspapers,” representing that she would invest their funds, though in reality she used the monies to “treat herself to luxury items and real estate,” such as a California condo worth $1 million. She has been charged wth mail fraud, wire fraud, money laundering, and obstruction of justice in the scheme, which prosecutors allege “duped” at least eleven investors over a five–year period. She has pleaded not guilty and was released on a bond of $50,000.

In February 2018 FINRA sanctioned Li-Lin Hsu following allegations she failed to comply with an arbitration award or settlement agreement or to satisfactorily reply to a FINRA request regarding the status of her compliance. She was indefinitely suspended from acting as a broker.

In 2016 FINRA sanctioned her following allegations she failed to respond to a request for information. She was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm.

In 2015 a customer alleged Li-Lin Hsu, while employed at Ameriprise Financial Services, misappropriated funds intended for her account. The complaint settled in 2017 for $675,000.

In 2015 FINRA sanctioned her in connection to allegations she failed to respond to a request for information. She was temporarily suspended from associating with any FINRA member firm in any capacity.

If you or someone you know has lost money investing with Li-Lin Hsu, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.