Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 19, 2017 indicate that New York-based brokerage and advisory firm IBN Financial Services was recently sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding IBN Financial Services (CRD# 42360).
Established in New York in 1995, IBN Financial Services is headquartered in Liverpool, New York and registered with 41 US states and territories. Richard Carleso Jr. is Chief Executive Officer and Chief Financial Officer; Christopher Avery is President; Timothy Evans is Chief Compliance Officer. The firm is registered with the Securities and Exchange Commission and FINRA.
According to the firm’s BrokerCheck report, IBN Financial Services has received three regulatory sanctions.
In May 2017 FINRA sanctioned the firm following allegations that “on several occasions, it conducted a securities business while failing to maintain its required minimum net capital.” The firm was censured and issued a fine of $15,000.
In 2016 the State of New York sanctioned IBN Financial Services following allegations involving the “fraudulent sales of seven investment contracts” in which the firm failed “to disclose that seller continued to own the pensions and could stop the benefit payments being made to the investor.” The firm was issued a fine of $10,000 and a five-year bar from selling, marketing, brokering or soliciting within or from New York secondary market pension, life settlements, viatical settlements and similar investments.
If you or someone you know has lost money investing with IBN Financial Services, call the experienced attorneys at Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.