David Yow Shang Chiueh

The Securities and Exchange Commission (SEC) has filed charges against David Yow Shang Chiueh, an investment adviser based in East Hanover, New Jersey, and his firm, Upright Financial Corp., for alleged misconduct resulting in significant investor losses.

According to the SEC’s complaint, Chiueh and Upright Financial Corp. invested more than 25% of the Upright Growth Fund’s assets into a single company over multiple years, leading to losses totaling $1.6 million. This concentration violated investment guidelines and exposed investors to undue risk.

The SEC’s action underscores the importance of investment advisers adhering to fiduciary duties and maintaining diversified portfolios to protect client assets. Investors place their trust in advisers to manage funds prudently, and breaches of this trust can lead to severe financial consequences.​

If you invested with David Yow Shang Chiueh or Upright Financial Corp. and have concerns about your investments or suspect misconduct, you may have legal options to recover your losses. Contact ChapmanAlbin today for a free consultation to explore your rights and potential remedies.​