April 19, 2021

Unregistered investment adviser Hai Khoa Dang has been ordered to pay a $2.2 million penalty and about $7,000 in disgorgement and interest for defrauding a retired couple who had been his clients for 20 years.  Dang allegedly informed the couple that he would invest their funds conservatively; unbeknownst to his clients, he then engaged in a risky options trading strategy that ultimately caused their funds to plummet from over $2.2 million to $27,000.  SEC

Tagged in: Financial and Investment Fraud,