NVESTOR ALERT! Investigation Launched Into Beth Debouvre
The Financial Industry Regulatory Authority (“FINRA”) launched a March 1, 2019 investigation into IMS Securities, Inc. general securities representative Beth Ann Debouvre, also known as Beth Bunnell (CRD#: 3176483, Gross Pointe Farms, Michigan). Apparently, In Investigation #20160501375, FINRA conveyed that its Department of Enforcement should take disciplinary against Debouvre for allegedly violating FINRA Rules.
According to FINRA, Debouvre, who worked for IMS Securities, Inc. from November 26, 2003 to March 28, 2017, possibly violated FINRA Rules 8311, 2010, and NASD Rules 2110, 1031, and IM-8310-1. Notably, FINRA believes Debouvre may have violated rules concerning, among other things: the ineligibility of a certain person for membership or association; standards of commercial honor and principals of trade; and the effect of a suspension, revocation, cancellation, bar or other disqualification.
Most importantly, at least eleven customers have filed investment-disputes about Debouvre. For example, take a look at the following complaints:
October 19, 2017 FINRA Arbitration #17-02151 Alleging Beth Debouvre’s Responsibility For Unsuitable REIT Advice
On October 19, 2017, a customer of IMS Securities brought this matter concerning Debouvre. First, the customer alleged that the firm or Debouvre violated Michigan Consumer Protection Act and Michigan Securities Act. Secondly, Debouvre allegedly made unsuitable recommendations to customers about Real Estate Investment Trusts (REITs). Third, the customer claimed that IMS Securities, Inc. did not reasonably supervise the customer’s REIT transactions. Fourth, Debouvre or the firm allegedly violated contract terms and breached fiduciary duties. Because of this, the customer demanded $30,000.00 in compensation in this pending matter.
Customer Brings Arbitration #17-02422 Alleging Beth Debouvre’s Involvement In Fraudulent Activities
An IMS Securities Inc. customer from South Carolina contested Debouvre’s allegedly egregious conduct in filing FINRA Arbitration #17-02422 on August 25, 2017. Allegedly, Debouvre or IMS Securities violated the Securities Act and the Exchange Act by committing fraud. Supposedly, the customer was victimized in connection with REIT purchases. Apparently, Debouvre or the firm also breached a fiduciary duty and violated provisions of the South Carolina Securities Act. Therefore, the customer alleged $400,000 in damages. Currently, this matter is unresolved.
June 14, 2017 FINRA Arbitration #17-01565 Alleging Fraud, Lack Of Due Diligence
This customer of IMS Securities Inc. lodged a dispute against Debouvre or IMS Securities Inc. concerning real estate investment trusts. Namely, the customer claimed Debourvre or IMS Securities Inc. engaged in fraud. Not only that, but the customer claimed that there was a lack of due diligence in the recommended REIT products. Additionally, Debouvre or the firm allegedly performed their duties negligently, violating securities laws. Accordingly, the customer is attempting to obtain at least $335,000.00 in compensation for the alleged harm.
Arbitration #17-01486 Alleges Beth Debouvre’s Breach Of Fiduciary Duty, Conspiracy
Apparently, a D.H. Hill Securities, LLLP and IMS Securities Inc. customer brought FINRA Arbitration #17-01486 on June 13, 2017. According to the customer, Debouvre breached a fiduciary duty by making fraudulent REIT transactions. Not only that, but the customer claimed that Debouvre or the firms entered into a conspiracy to commit unlawful, fraudulent activities. In sum, the customer wants $954,700.00 in compensation for the alleged fraud.
Debouvre has seemingly engaged in unsuitable sales of REIT securities including United Development Funding (“UDF”) and other UDF funds. Suffered losses by investing with IMS Securities broker Beth Debouvre? Contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of your investment losses. Soreide Law Group represent clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.