Chris Yoo and Summit Asset Strategies Investment Management– Unearned Management Fees

schemeChris Yoo and His Summit Asset Strategies Investment Management Purportedly Received Unearned Management Fees after Allegedly Fraudulently Inflating the Values of Investments in the Portfolio of a Private Fund

Chris Yoo and his Summit Asset Strategies Investment Management, a Bellevue, Washington – based investment advisory firm, fraudulently inflated the values of investments in the portfolio of a private fund they advised in order that they could attain unearned management fees, according to according to SEC Documents currently under review by investor rights attorneys Alan Rosca and Joe Peiffer.

What is more, said SEC Documents also allege that Summit’s outside auditors performed a deficient audit that allowed the firm to send misleading financial statements to investors.

The Peiffer Rosca Wolf investor rights attorneys are currently investigating Chris Yoo and his Summit Asset Strategies Investment Management for allegedly inflating the values of investments in the portfolio of a private fund they advised in order to attain unearned management fees.

Chris Yoo and His Summit Asset Strategies Investment Management Reportedly Agreed to Pay More than $1 million to Settle Fraud Charges and Chris Yoo Agreed to Pay over $180,000 to Settle Fraud Charges

Chris Yoo and his Summit Asset Strategies Investment Management agreed to pay more than $1 million to settle the fraud charges arising from Summit Stable Value Fund, and Chris Yoo agreed to pay over $180,000 to settle fraud charges related to his failure to inform clients that Summit Asset Strategies Wealth Management received significant fees, according to SEC Documents currently under review by investor rights attorneys Alan Rosca and Joe Peiffer.

What is more, the SEC further alleges that Yoo falsely claimed that the fund owned a specific bank asset that had appreciated to approximately $2 million in value, but reality shows that the fund owned an entirely different asset that was worth less than $200,000.

Finally, without admitting or denying the allegations, Yoo and Summit Asset Strategies Investment Management agreed to the entry of an order enjoining them from violations, and Yoo also agreed to a disgorgement of $889,301 plus prejudgment interest of $104,632 and a penalty of $150,000.

Securities Rights Lawyers Investigating

The Peiffer Rosca Wolf investor rights attorneys often represent investors who lose money as a result of allegedly taking in unearned management fees. They are currently investigating Chris Yoo and his Summit Asset Strategies Investment Management for allegedly operating an investment scheme, and are preparing to assist investors. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.

Investors who believe they lost money as a result of Chris Yoo and his Summit Asset Strategies Investment Management for allegedly taking in unearned management fees may contact the investor rights attorneys at Peiffer Rosca Wolf, Alan Rosca or Joe Peiffer, for a free no-obligation evaluation of their recovery options, at 888-998-0520. They are currently preparing to assist investors.

Alan Rosca (1203 Posts)

Alan is a securities lawyer. He also teaches Securities Regulation at the Cleveland-Marshall College of Law. He focuses his legal practice on complex commercial and financial litigation and arbitration, particularly in the areas of securities and investment fraud. His office is in Cleveland, Ohio.


In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent blogs regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases.