{"id":11477,"date":"2024-08-14T14:57:42","date_gmt":"2024-08-14T18:57:42","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=11477"},"modified":"2024-08-14T14:57:42","modified_gmt":"2024-08-14T18:57:42","slug":"ifs-broker-keith-wakefield-convicted-of-securities-and-wire-fraud","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/ifs-broker-keith-wakefield-convicted-of-securities-and-wire-fraud\/","title":{"rendered":"Scott Silver Featured In Investment News Article About IFS Broker Keith Wakefield Convicted Of Securities And Wire Fraud"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-11478 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/08\/Blog-Graphics17.png\" alt=\"Former IFS Securities bond trader Keith Wakefield (CRD# 3250539) has been found guilty of securities and wire fraud as a broker at the now-defunct IFS Securities. He was convicted in federal court in the Northern District of Illinois. The jury found that he inflated the commissions on his trades and entered false and unauthorized trades that caused losses of $30 million to the firm.\n\nThe losses were originally reported as $10 million. Ultimately, those losses due to inflated commissions, false and unauthorized trades and shorting treasury bonds totaled $30 million.\n\nThese losses were substantial enough that it led to the eventual shutdown of Atlanta-based IFS Securities in early 2020. IFS did not have funds available to settle the bond trades, according to published reports at the time.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/08\/Blog-Graphics17.png 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2024\/08\/Blog-Graphics17-180x120.png 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Former IFS Securities bond trader Keith Wakefield (CRD# <a href=\"https:\/\/brokercheck.finra.org\/individual\/summary\/3250539\" target=\"_blank\">3250539<\/a>) has been found guilty of securities and wire fraud as a broker at the now-defunct IFS Securities. He was convicted in federal court in the Northern District of Illinois. The jury found that he inflated the commissions on his trades and entered false and unauthorized trades that caused losses of $30 million to the firm.  <a href=\"https:\/\/www.silverlaw.com\/blog\/ifs-broker-keith-wakefield-convicted-of-securities-and-wire-fraud\/#more-11477\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former IFS Securities bond trader Keith Wakefield (CRD# 3250539) has been found guilty of securities and wire fraud as a broker at the now-defunct IFS Securities. He was convicted in federal court in the Northern District of Illinois. The jury found that he inflated the commissions on his trades and entered false and unauthorized trades [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[580],"tags":[],"class_list":["post-11477","post","type-post","status-publish","format-standard","hentry","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>IFS Broker Keith Wakefield Convicted Of Securities And Wire Fraud<\/title>\n<meta name=\"description\" content=\"Former IFS Securities bond trader Keith Wakefield has been found guilty of securities and wire fraud at the now-defunct IFS Securities.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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