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Cetera Investment Services LLC Stockbroker Leo Chen Charged with Unsuitable Investment Recommendations

By: Reif Law Group

Leo Li-Yuan Chen (CRD#: 4169619) is a stockbroker and FINRA-registered investment advisor associated with Cetera Investment Services since 2012. Chen, currently working out of Cetera’s San Gabriel, CA office, has been charged with making unsuitable investment recommendations on several occasions:

  • In April 2022, Chen was charged with making unsuitable alternative investment recommendations in real estate securities resulting in investor losses. The claimant is seeking to recoup $100,000.
  • In March 2022, a customer alleged Chen made unsuitable investment recommendations in a variable annuity and REIT resulting in unspecified losses. The claim is pending.
  • In July 2021, Chen settled an unsuitable investment recommendation claim for $170,000. 
  • In August 2011, a customer accused Chen of providing misleading information regarding a mutual fund investment.

Our firm is interested in hearing from current and former customers of Leo Li-Yuan Chen and his employer Cetera Investment Services LLC. 

How To Recover Your Losses

If you have suffered investment losses due to broker misconduct by Leo Li-Yuan Chen and Cetera Investment Services, you have legal rights. Under FINRA rules, member firms are responsible for supervising their registered representatives. Therefore, both Chen and Cetera may be liable for your losses.

Reif Law Group represents investors around the country in claims against brokers and investment advisors in arbitration and court proceedings. We know how to hold stockbrokers and investment firms accountable and will help you recover your losses. But time is of the essence, and you must act quickly. Contact us today so we can start working on your claim.

Brandon S. Reif is the managing partner at Reif Law Group, P.C. and a distinguished trial attorney with a track record of delivering successful trial verdicts and arbitration awards. Mr. Reif is Martindale-Hubbell® AV Preeminent™ peer-rated, AV Preeminent™ – Judicial Edition-rated, and a Client Champion Platinum™ client-rated attorney. He has been voted one of Los Angeles Magazine’s “Top Attorneys in Southern California” from 2011 to 2021 and Southern California’s Super Lawyer® from 2011 to 2021 (elevated from Rising Stars® in 2015). Mr. Reif represents the securities and financial services industries in all types of lawsuits and arbitrations, including customer, vendor, sponsor, and insurer disputes. If you have a question about this article you can contact Mr. Reif by visiting his biography page here.