Soreide Law Group has filed the third lawsuit on behalf of clients (Claimants) against PARK AVENUE SECURITIES, LLC, & LIZABETH GOTUACO TY (BETH TY) of Sugar Land, Texas.
BETH TY CRD#4737319, was an employee and registered representative of PARK AVENUE SECURITIES from January 2006 through July 2015. She relinquished her FINRA registration the same month that the SEC charged Frederick Alan Voight and Daystar Funding with running a Ponzi scheme. PARK AVENUE SECURITIES is liable for their employees and representatives, which included their registered representative, BETH TY.
The Claimants, a married couple from Texas, had no significant investment experience. In 2014, the Claimants were introduced to PARK AVENUE SECURITIES’ broker BETH TY who put together a comprehensive financial plan for the Claimants. BETH TY sold the Claimants two whole life insurance policies and allegedly recommended that the Claimants fund the premium payments by income that would be generated from a “guaranteed high yield” investment with Frederick Voight and Daystar Funding. BETH TY also allegedly recommended the investment and further explained that she had put several of her other clients into it and her own personal money with Frederick Voight. PARK AVENUE SECURITIES broker BETH TY allegedly touted the investment and claimed she personally investigated it herself. Based off the alleged assurances of PARK AVENUE SECURITIES' broker BETH TY, the Claimant turned over $175,000 which was money that the Claimant inherited. Shortly after the investments were made, on or about July 2015, the SEC charged Frank Voight and Daystar Funding with running a Ponzi scheme.
The lawsuit damage analysis is presently ongoing, but PARK AVENUE SECURITIES and BETH TY’S actions have allegedly caused Claimants out of pocket damages of approximately $175,000.00.
The lawsuit claims are alleged negligence, breach of fiduciary duty and negligent supervision.
Soreide Law Group is currently representing clients in three different lawsuits against PARK AVENUE SECURITIES, LLC, & LIZABETH GOTUACO TY (BETH TY) of Sugar Land, Texas. If you’ve experienced similar losses due to their actions or recommendations, call Soreide Law Group for a no-cost consultation regarding the possible recovery of your investment at: 888-760-6552.
Remember, Soreide Law Group represents our clients nationwide before FINRA and we operate on a contingency fee basis.
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