Yong Jang— Undisclosed Private Securities Actions
Yong Jang Allegedly Participated in Four Private Securities Transactions, Including Improper Solicitation of Two Colleagues to Jointly Invest
Yong Jang, between February 2011 and July 2012, allegedly participated in four private securities transactions, including one in which Jang improperly solicited two colleagues at Goldman, Sachs & Co. to jointly invest with him, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC).
The AWC further details that Jang solicited and convinced the two colleagues at Goldman to jointly invest approximately $100,000 with him in the venture, and that, separately, in July 2012, Jang allegedly invested approximately $40,000 in a private stock transaction in a company, CWL, formed by his friend.
In addition, the AWC notes, said transactions were allegedly undisclosed and conducted without the Goldman’s permission, and in violation of the firm’s policies and procedures for General Securities Representatives (GSRs).
Yong Jang Allegedly Gave False Reports on Compliance Certificates; Suspended and Fined
Yong Jang, from 2011 through 2013, also allegedly falsely reported on Goldman’s annual compliance certification for each of the aforementioned years that he did not have any private securities investments, when, in reality, he actually did, according to the AWC.
Accordingly, Jang allegedly violated NASD and FINRA Rules. As a result, Jang received a 75-day suspension from associating with any member of FINRA in any capacity, and a fine of$10,000, the AWC also reports.
The Peiffer Wolf Investment Recovery Lawyers Often Represent Investors
The Peiffer Wolf investment recovery lawyers often represent investors who lose money as a result of investment misconduct. 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 investment misconduct may contact the investment recovery lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.