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Sara Ng: GPB Capital Complaint Against Former Axiom Advisor
Former New York City broker and investment advisor Sara Ng (CRD# 2701165) has received an investor complaint alleging she misrepresented an investment in GPB Capital. Financial Industry Regulatory Authority records show that the former Primex, Westpark Capital, and Moloney Securities representative has also recently been based in Oakbrook, Illinois. She is also known as Sara Eng and Sara Zhou.
Ms. Ng’s BrokerCheck report discloses multiple investor complaints. The most recent, filed in March 2022, alleged that as a representative of Axiom Capital Management, she misrepresented and omitted material facts relating to investments in IGF and GPB private placements. The pending complaint alleges damages of $177,500.
A second investor complaint, filed in 2020, alleged that as a representative of Berthel Fisher & Company, she misrepresented and recommended unsuitable investments in real estate securities and a business development company. In 2021 the complaint reached a settlement of $7,500.
A third investor complaint, filed in 2018, similarly alleged that she misrepresented and recommended unsuitable securities while at Berthel Fisher and Financial West Group. In 2020 the complaint reached a settlement of $22,500.
Another complaint, filed in 2017, alleged she made misrepresentations regarding unsuitable oil and gas investments. In 2019 the complaint reached a settlement of $236,533.80.
Ms. Ng’s BrokerCheck report also discloses a 2018 FINRA enforcement action against her. According to FINRA’s findings, she “distributed a letter from the manager of a certain fund containing promissory and misleading statements about the fund,” and “forwarded the letter to retail investors along with misleading commentary of her own about the fund’s prospects that included a promissory and imbalanced statement that did not provide a sound basis for evaluating the relevant facts.” FINRA states additionally that she had not received approval from any qualified principal to distribute those materials to her clients. She was issued a 15-day suspension and a fine of $5,000.
According to the Financial Industry Regulatory Authority, Sara Ng holds 23 years of securities industry experience. Also known as Sara Eng and Sara Zhou, she has recently been based in New York City and Oak Brook, Illinois, but is not currently registered as a broker or an investment advisor. Her past registrations include Primex, Westpark Capital, Moloney Securities, Axiom Capital Management, Financial West Group, Berthel Fisher & Company, Wachovia Securities, Gruntal & Company, Dean Witter Reynolds, American Express Financial Advisors, and IDS Life Insurance. She currently holds no state licenses. (Information current as of August 7, 2022.)
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