Karen Paek, Financial Advisor Karen Paek Barred from Securities Industry by FINRA | Goodman & Nekvasil P.A., May Recover Investor Losses
Karen Paek CRD #5985441
Karen Paek was a formerly licensed financial advisor with Pruco Securities, LLC. According to FINRA, Karen Paek was barred from the securities industry in August 2019.
According to FINRA
Karen Paek consented to the sanction and to the entry of findings that Karen Paek created, signed, and submitted fictitious variable annuity applications, along with fictitious supporting documents, to meet her minimum production requirements at her member firm. The findings stated that the variable annuity applications were made in the names of former customers at her prior employing firm, insurance customers of her employing firm, and a prospective customer at her employing firm. Karen Paek forged the individuals’ electronic signatures on all of the applications. None of the individuals were aware of or authorized the applications and the annuities were never funded. For five of the variable annuity applications, Karen Paek created fictitious third-party brokerage statements, which she submitted to the firm to give the false impression the variable annuities would be funded from third-party accounts. The firm discovered Karen Paek’s falsifications and forgeries during a review of unfunded variable annuity applications. Karen Paek received approximately $23,000 in advance commissions for the fictitious variable annuity applications, all of which the firm recovered. The findings also stated that by submitting fictitious variable annuity applications and accompanying third-party brokerage statements, Karen Paek caused the firm’s books and records to be inaccurate.
Goodman & Nekvasil, P.A. May Recover Investment Losses
If you lost any money on investments with Karen Paek, you may be able to recover your losses. If you lost money on investments with Karen Paek and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Karen Paek’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Karen Paek and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
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