Haselkorn & Thibaut, P.A., operating as Investment Fraud Lawyers has launched an independent investigation into Sung Moo Cho (CRD# 5015906), a former New York City-based financial advisor most recently registered with Citigroup Global Markets (Citi). Our attorneys are leveraging decades of insider knowledge from Wall Street defense to examine concerns about customer losses, alleged misappropriation of funds, and regulatory red flags impacting investors.
If you have concerns about investments with Sung Moo Cho or suspect that your funds were improperly handled, we urge you to contact us for a free, confidential consultation at 1-888-885-7162.
Why Haselkorn & Thibaut Is Investigating Sung Moo Cho
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Our firm opened this investigation after FINRA barred Sung Moo Cho from the securities industry following serious allegations. According to records, Cho was the subject of a customer complaint that triggered an in-depth regulatory probe regarding the potential misappropriation of approximately $3.5 million in client funds. Throughout the investigation, regulators uncovered concerns significant enough to warrant permanent industry expulsion. Our attorneys are examining whether investors who entrusted their savings to Cho or Citi may have suffered recoverable losses as a result of this alleged misconduct.
Summary of Allegations and Regulatory Findings
Understanding the full picture is critical for any investor evaluating their situation. Below, we present a comprehensive summary of the known allegations and findings to date:
| Red Flag | Description | Status/Details |
|---|---|---|
| Misappropriation of Funds | Client complaint alleging the wrongful taking of approximately $3.5 million from brokerage accounts | Alleged during registration with Citi and Ameriprise; central to FINRA inquiry |
| Forgery and Falsification | Suspected forging of customer signatures and falsifying firm documents | Investigated while registered at Citi and Ameriprise; supported by related evidence |
| Regulatory Non-Compliance | Failure to cooperate with FINRA’s information and document requests | Cho formally refused compliance, violating FINRA Rule 8210 |
| Termination for Cause | Fired by Citigroup Global Markets | Allegedly for refusing to cooperate with an internal investigation and removing client information |
| Regulatory Bar | Barred from associating with any FINRA member firm in any capacity | Final action following AWC (Acceptance, Waiver, and Consent); effective immediately |
Profile Overview: Sung Moo Cho – Citi, New York, NY
- Industry Experience: 19 years in the securities industry
- Most Recent Broker-Dealer: Citigroup Global Markets Inc. (Citi), 2025–2026
- Previous Registration: Ameriprise Financial Services
- Additional Experience: Joseph Stone Capital, Mutual of America Life Insurance, CUSO Financial, Wells Fargo, Chase, Merrill Lynch, Andrew Garrett
- Licenses: SIE, Series 7, 63, 65, 66
- Primary Location: New York City, NY
- Current Status: Barred by FINRA; cannot act as a broker or associate with any member firm
Details of Complaints and Regulatory Actions
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Misappropriation Allegation:
- Initiated by a customer complaint stating Sung Moo Cho misappropriated $3.5 million
- Allegations relate to both Citi and Ameriprise registrations
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Forgery/Falsification Allegations:
- Suspected forging of client signatures and falsification of account documents
- Involves documents at both Citi and prior firms
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Document Misuse and Internal Policy Violations:
- Removed personally identifiable client information from firm systems without authorization
- Created non-firm-generated statements and provided them to clients
- Refused to cooperate with both firm and FINRA investigations
-
Regulatory Violations – FINRA Rule 8210:
- Refusal to comply with FINRA’s requests for information and testimony
- Resulted in immediate and permanent bar from the securities industry
Why Immediate Action Matters for Investors
Whether or not you have received direct notification, misappropriation, forgery, or regulatory violations by an advisor can devastate your financial security. Even trusted firms like Citi may have compliance gaps that put investors at risk. If you invested with Sung Moo Cho in New York or at any of his prior firms, it is essential to determine whether your accounts suffered unauthorized losses, improper transactions, or statements that do not match official records.
Our attorneys have spent decades as former Wall Street defense counsel and now deploy that insider knowledge to fight for the recovery of funds for wronged investors. With a 98% success rate across hundreds of claims, over $520 million in securities matters, and 95+ years of combined experience, our firm stands ready to review potential claims in strict confidence. We proudly hold the Martindale-Hubbell Top 2% AV Preeminent rating, multiple Super Lawyers designations, and a perfect 5.0-star client review history. You pay no fee unless we recover your losses.
Your Next Steps: Protect and Recover Your Investments
Investors who suspect any red flags—whether related to Sung Moo Cho, Citigroup Global Markets, or any other advisor—should:
- Review all account statements and cross-check against BrokerCheck records
- Document any unauthorized transactions or unexplained losses
- Contact our experienced attorneys for a free claim evaluation
Do not wait—timely action is critical to maximize any potential recovery. If you or a loved one invested with Sung Moo Cho in New York, suffered losses at Citi, or have unanswered questions about your account, call 1-888-885-7162 now for a free, confidential case review by former defense attorneys who know exactly how to fight for your financial future.
We are here to help you recover your losses, protect your rights, and restore hope after investment misconduct.
