The securities attorneys at The Law Office of David Liebrader have opened an investigation into the securities related conduct of IBN Financial Services, a FINRA registered broker dealer that was sanctioned by the Pennsylvania Department of Banking and Securities in July 2014.
In July, 2014 IBN Financial Services entered into a consent agreement and order with the state of Pennsylvania pertaining to allegations that the firm operated in violation of the Pennsylvania Securities Act in regards to the way in which they supervised a registered representative employed with their firm.
The investigation arose from an examination conducted by the state in July 2013, which disclosed that a broker who was supposed to be on “heightened supervision” was not being supervised according to the requirements of the written guidelines.
As a result of the violations the firm agreed to pay the state $15,000 in penalties and fees, and to take such further steps as to remain in compliance with the states’ securities laws.
Although the consent order did not name the representative who was supposed to be on heightened supervision, one rep who was registered with the firm during that period is Anthony Diaz, who worked out of IBN’s Scotrun, PA office from September 2012 through April 2015. Diaz has been the subject of 38 customer complaints since 2004, and has been barred from the securities industry.
FINRA maintains a database that the public can access to check the credentials of their financial advisors. The website, also known as broker check contains a listing for IBN Financial Services, which is listed as a New York corporation formed in December 1995, and registered in 33 states and territories.
If you are the victim of investment fraud, or if you have lost money investing with IBN Financial please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.