Articles Tagged with IMS Securities

Were you recommended and sold UDF-related investments by Beth Debouvre of Grosse Pointe Farms, Michigan? Debouvre is registered with IMS Securities in Grosse Pointe Farms. According to a complaint filed with the Financial Industry Regulatory Authority (FINRA), Ms. Debouvre allegedly made misrepresentations related to the sales of equipment leasing programs and real estate investment trusts (REITs). REITs and UDF investments may not be suitable for all investors and a broker has an ironclad obligation to only recommend and sell those investments that are suitable for investors by taking into account their age, net worth, investment objectives and investment sophistication, among other factors. If the broker does not, her brokerage firm may be liable for losses.
According to her FINRA BrokerCheck report, Ms. Debouvre was registered with Banc One Securities in Chicago, Illinois from February 1999 until June 2001, D.H. Hill Securities in Kingwood, Texas from June 2001 until December 2003, and IMS Securities in Grosse Pointe Farms, Michigan from November 2003 until March 2017. She has three customer disputes against her, one of which is currently pending. She is not registered within the industry. Please call our securities law firm based in Chicago, Illinois if you suffered losses with Ms. Debouvre. We may be able to help you bring a claim against her firm, IMS Securities in the FINRA arbitration forum on a contingency fee basis. The call to us is free with no obligation so please call today as there is a statute of limitations on most cases. 312-332-4200.

Stoltmann Law Offices is investigating Jesus Rodriguez, a broker with IMS Securities. Rodriguez is accused of acting negligently, misrepresenting material facts, and breaching fiduciary duty in connection to real estate investment trusts. These are all against securities rules and regulations. IMS Securities can be sued in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis in order to recover losses. Please call our securities law firm today to speak to an attorney about your options. The call is free with no obligation and we take cases on a contingency fee basis. Rodriguez was registered with Securities America in Lavista, Nebraska from November 1997 until March 2000 and is currently registered with IMS Securities in Miami, Florida and has been since March 2000. He has two customer disputes against him, one of which is currently pending.

AdobeStock_17493500-1-300x102According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Patrick Combs was accused of participating in a $500,000 private securities transaction that involved a Morgan Stanley customer when he was registered with Morgan Stanley. He also allegedly violated securities laws by submitting false answers concerning the private securities transaction in annual compliance questionnaires. Between August 2012 and September 2012, Combs and his customer, who was a professional athlete, engaged in email communications and telephone conferences discussing the customer’s investment in a sports drink company, of which he would be the spokesperson. The customer invested $500,000 in the company and received a convertible promissory note with a maturity date. Combs did not disclose this to Morgan Stanley, which is against securities laws. Combs ws suspended from the industry for seven months and fined $7,500.

Combs was registered with Morgan Stanley in Houston, Texas from June 2005 until April 2007, Morgan Stanley in Arlington, Texas from April 2007 until June 2009, Morgan Stanley in Southlake, Texas from June 2009 until March 2016 and IMS Securities in Houston from March 2016 until April 2016. He has one customer dispute against him, which is pending and is currently not registered within the industry. If you suffered losses with Patrick Combs, please call our law firm at 312-332-4200 today to speak to an attorney about your losses. The call is free with no obligation. We may be able to help you bring a claim against Morgan Stanley in the FINRA arbitration forum on a contingency fee basis.

AdobeStock_69736117-2-300x200Did you lose money with Michael Spears, a registered broker with IMS Securities? If so, the attorneys at Stoltmann Law Offices may be able to help you recover your losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum on a contingency fee basis. We may be able to bring a claim against his firm, IMS Securities, for failing to reasonably supervise him. Mr. Spears was accused of negligence, failure to supervise, misrepresentation, breach of fiduciary duty, and other claims. He was accused of selling direct participation products (DPPs) such as non-traded real estate investment trusts (REITs) and other alternative investments. REITs and other DPPs are typically risky and illiquid investments that are not suitable for all investors. A broker must take into account an investor’s age, net worth, investment objectives and risk tolerance, among other factors when recommending an investment. If he does not, his investment firm may be liable for losses. Mr. Spears is registered with IMS Securities in Houston, Texas and has been since May 2002. He has two pending customer disputes against him. If you lost money with Michael Spears, you may be able to sue IMS Securities. Please call 312-332-4200 to speak to an attorney. The call is free with no obligation.

AdobeStock_123495998-1-300x197Stoltmann Law Offices is investigating Beth Debouvre, a broker with IMS Securities. Debouvre was accused of recommending and selling alternative investments such as direct participation products (DPPs) like non-traded real estate investments trusts (REITs) and equipment leasing funds such as LEAF or ICON. All of these investments come with high costs and have historically underperformed U.S. Treasury bonds. They tend to be highly risky, speculative and illiquid investments and are not suitable for many investors. A broker such as Ms. Debouvre has a duty to only recommend and sell those investments that are suitable for investors. If she does not, her firm, IMS Securities, can be held responsible for investment losses because her firm has a duty to reasonably supervise her.

Debouvre was registered with Banc One Securities Corp in Chicago, Illinois from February 1999 until June 2001 and D.H. Hill Securities in Kingwood, Texas from June 2001 until December 2003. She is currently registered with IMS Securities in Grosse Point Farms, Michigan. She has three customer disputes against her, all of which are currently pending. Please call our securities law offices in Chicago, Illinois for a free consultation with an attorney. We may be able to help you bring an arbitration claim against Ms. Debouvre’s firm, IMS Securities, on a contingency fee basis. There is no obligation so please call today.

According to a recent InvestmentNews article entitled “Texas broker-dealer fined $100,000 over variable annuity exchanges,” the Financial Industry Regulatory Authority (FINRA) fined Texas-based IMS Securities $100,000 for failures in monitoring variable annuity exchanges. The firm’s executives were also targeted in a pair of multimillion-dollar customer disputes involving variable annuities and real estate investment trusts (REITs). FINRA alleged that IMS had a lack of “adequate supervisory procedures for problematic rates of exchange” in variable annuity transactions. An annuity exchange allows brokers to transfer funds in an annuity to a new policy without subsequent tax penalties. FINRA requires firms such as IMS to have procedures in place to make sure that brokers don’t abuse the practice and only make the exchanges to benefit themselves. If you have suffered losses because of IMS’ variable annuity exchanges, please call our law firm in Chicago today at 312-332-4200 to speak to one of our attorneys about your options of bringing legal recourse against the firm. We may be able to help you recover your losses.

CNBC
FOX Business
The Wall Street Journal
Bloomberg
CBS
FOX News Channel
USA Today
abc NEWS
DATELINE
npr
Contact Information