Update For Investors: Beth Ty and Park Avenue Securities

AdobeStock_91053286-1-300x194Lizabeth (Beth) Gotuaco Ty, a former Park Avenue Securities broker was accused of various securities law violations by the Securities and Exchange Commission (SEC). Allegedly, Ty recommended “guaranteed” investments with Frederick Voight and Daystar Funding to a married couple from Texas who run a non-denominational church. Ty told the couple their high-yield investments would generate high rates of return that were protected and would not be subject to market volatility. The couple gave her $1,965,000 to invest. Voight and Daystar Funding were charged with running a ponzi scheme in July 2015 by the SEC. According to the SEC complaint, Voight lost $13.8 million of investor proceeds in the ponzi scheme. Ty had allegedly entered into a consulting contract with Frederick Voight to solicit investments into his business. This was an outside business activity that Park Avenue Securities should have monitored, and because the firm did not, it may be responsible for investment losses sustained with Beth Ty. Investors who may have lost money because of Ty are encouraged to call our Chicago, Illinois-based law firm at 312-332-4200 today for a free consultation with one of our attorneys.

According to her BrokerCheck report with the Financial Industry Regulatory Authority (FINRA), Ty was registered with Ameritas Investment Corp in Lincoln, Nebraska from February 2004 until April 2004, Brookstreet Securities in San Juan Capistrano, California from April 2004 until November 2004 and Park Avenue Securities in Houston, Texas from January 2006 until July 2015. She has three customer disputes against her, which are pending. She has been permanently barred from the industry.

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