Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Chun Elmejjad (Elmejjad) has been accused by an investor and barred by a regulator for engaging in undisclosed investment activities including undisclosed outside business activities (OBAs). According to records kept by The Financial Industry Regulatory Authority (FINRA), Elmejjad was employed by Equitable Advisors, LLC (Equitable) at the time of the activity. If you have been a victim of Elmejjad’s alleged misconduct our firm may be able to assist you in recovering funds.
On January 24, 2024, Elmejjad accepted a permanent industry bar with FINRA by failing to respond to the regulator’s requests for documents and information. The request for information was likely related to Elmejjad’s termination for cause in November of 2023 from Equitable when the firm filed a Form U5 claiming that Elmejjad was terminated due to violating company policy by accepting a loan and an investment from a client in connection with an undisclosed and unapproved outside business activity. Thereafter, a customer filed a complaint alleging that Elmejjad misappropriated funds that he loaned to Elmejjad in connection with real estate projects Elmejjad and her husband were involved in.