Investors Capital Corp Sued By Investors For REIT Misconduct

Donnie Eugene Ingram of Winter Haven Florida a stockbroker associated with Cetera Advisors LLC and Investors Capital Corp. is referenced in a customer initiated investment related arbitration claim which was resolved for $23,000.00 in damages founded on accusations that Ingram executed unsuitable corporate debt and real estate investment trust trades in the customer’s account. Financial Industry Regulatory Authority (FINRA) Arbitration No. 17-00928 (Dec. 18, 2017).

FINRA Public Disclosure reveals that Ingram has been identified in eight additional customer initiated investment related disputes containing allegations of his misconduct while employed with Investors Capital Corp. In particular, a customer initiated investment related arbitration claim regarding Ingram’s conduct was settled for $112,500.00 in damages based upon accusations that the customer was placed in inappropriate investments including oil and gas products, stocks, and corporate debt investments. FINRA Arbitration No. 16-01458 (Aug. 29, 2017).

Another customer initiated investment related arbitration claim involving Ingram’s activities was resolved for $115,000.00 in damages supported by allegations that unsuitable corporate debt trades were placed in the customer’s investment account; and the customer’s investment portfolio was excessively concentrated in the inappropriate investments. FINRA Arbitration No. 16-01732 (Aug. 29, 2017). Additionally, a customer initiated investment related arbitration claim concerning Ingram’s conduct was settled for $45,000.00 in damages founded on accusations of Ingram selling the customer real estate securities, corporate debt investments, stocks and direct participation program interests or limited partnership interests that failed to align with the customer’s financial circumstances, objectives for investing, or tolerance for risk. FINRA Arbitration No. 16-02304 (Aug. 29, 2017).

Moreover, Ingram is the subject of a customer initiated investment related arbitration claim that was resolved for $46,000.00 in damages based upon allegations of unsuitability in regard to the real estate security and stock trades placed in the customer’s investment account. FINRA Arbitration No. 16-02599 (Aug. 29, 2017). Finally, a customer initiated investment related arbitration claim regarding Ingram’s activities was resolved for $200,000.00 in damages supported by accusations that Ingram effected bad investment transactions in the customer’s account through 2015. FINRA Arbitration No. 16-02238 (Aug. 29, 2017).

Ingram’s registration with Investors Capital Corp. has been terminated as of July 25, 2016. He became employed with Centaurus Financial Inc. on July 15, 2016.