We are providing FREE consultations via PHONE or VIDEO conferencing for your safety and convenience. Read More!

A National Securities Arbitration & Investment Fraud Law Firm

Articles Tagged with IMS Securities

Jackie Divono Wadsworth (CRD #2342163) is a former registered broker and currently registered investment advisor whose last employer was IMS SECURITIES, INC. (CRD #35567) of Houston, TX. She worked for IMS since 1994, and the firm was expelled by FINRA on 9/04/2018. Previously, she worked for Retirement Investment Group (CRD #7421), also of Houston. She has been in the industry since 1993.

National Securities Corporation: Frequent Customer Disputes with FINRA on silverlaw.comIn 2017, Wadsworth was involved in a customer dispute involving multiple claimants while at IMS Securities. In it, the claimants alleged that “a non-party under the supervision of Respondents induced Claimants to invest in unsuitable, high-risk, illiquid investments, including United Mortgage Trust (“UMT”), United Development Funding II (“UDF II”), and United Development Funding III (“UDF III”).”  These allegations also included “aiding and abetting fraud, aiding and abetting breach of fiduciary duty, civil conspiracy, civil RICO, civil RICO conspiracy, and negligent supervision.” Filed on 6/7/2017, the arbitration was completed on 11/8/2018, awarding a total of $963,836.00 to the claimants.

Following this award, Wadsworth failed to respond to an information request from FINRA, causing a suspension on 8/3/2018. She did not request her suspension to be terminated, and is now barred from any association in any capacity with any FINRA member.

Beth A. Debouvre

CRD#3176483

Silver Law Group is investigating former Grosse Pointe Farms, Michigan-based  IMS Securities broker Beth Debouvre after multiple customer allegations of breach of fiduciary duty and unsuitable investment recommendations were received by FINRA.

Silver Law Group is investigating Eugene, Oregon-based IMS Securities Inc. (CRD# 35567) broker Charles R. Fischer (CRD# 1186289) over allegations of misrepresentations.

According to Fischer’s FINRA BrokerCheck report, a customer filed a complaint against Fischer in August 2016 alleging he sold the customer unsuitable investments and misrepresented them as well.  The FINRA arbitration complaint alleges $500,000 in damages.

Fischer has one other disclosure on his BrokerCheck report.  In December 2014, a customer complaint settled for over $140,000.  The complaint alleged negligence.

Silver Law Group is investigating Houston, Texas-based IMS Securities Inc. (CRD# 35567) broker Michael J. Spears (CRD# 4501523) after two (2) customers filed complaints against Spears regarding non-traded REITs.

According to Spears’ FINRA BrokerCheck report, two customers filed complaints against Spears in 2016.  The first, in August 2016, alleges negligence, misrepresentation, failure to supervise, breach of fiduciary duty and involves non-traded REITs.  The FINRA arbitration claim alleges over $1.6 million in damages.

The second, filed in July 2016, also involves real estate securities as well as variable annuities (“VAs”).  This FINRA arbitration complaint alleges negligence, overconcentration, breach of fiduciary duty, misrepresentations, failure to supervise and damages in the amount of $3 million.

Contact Information