Were you the victim of Transamerica Financial Advisors, Inc. broker Feng Luo (CRD# 5508192)? Luo has been registered with Transamerica Financial Advisors, Inc. in Rancho Cucamonga, California since 2012.
Luo has been the subject of one customer complaint, according to his CRD report:
October 2020. “Claimants alleged that representative misrepresented and materially omitted facts in the solicitation of unsuitable insurance products. Additionally, it was alleged that the representative fraudulently submitted a forged application to amend the policy’s face amount.” The customer is seeking $472,800 in damages and the case is currently pending. The complaint was regarding insurance losses.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Transamerica Financial Advisors, Inc. may be liable for investment or other losses suffered by Luo’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.