FINRA fined and suspended former Allstate Financial Services (Monterey Park, CA) broker Chih-Ming Huang for wilfully failing to disclose five felony charges, including grand theft, forgery, and embezzlement. FINRA's website indicates Huang presently serves as an agent for the James Huang Insurance Agency of Monterey Park.
According to AWC #2019063227101 and a California Department of Insurance disclosure, Chih-Ming Huang (CRD #4550102) allegedly embezzled at least $13,792 of insurance premium payments from three clients.
FINRA's report further states that when asked on a disclosure questionnaire whether he had ever been charged with any felony, Huang wilfully responded in the negative, thus failing to disclose the criminal charges.
Huang furthermore allegedly failed to disclose a no contest plea in 2019 on the charge of misdemeanor theft.
In July 2019, Allstate discharged Huang for failing to promptly notify the firm of the aforementioned charges.
If you have invested with any broker or financial adviser who failed to disclose past misconduct—such as felony charges related to stealing money or other financial malfeasance—and such disclosure failures preceded a harmful investment relationship resulting in losses or other damages, please call an experienced FINRA arbitration attorney at The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.