Soreide Law Group is currently investigating claims on behalf of investors against Darrell Duane Smith, a former broker with Multi-Financial Securities, Mason City, Iowa, which is now known as, Cetera Advisors. These investors purchased I-Lenders and Energae from Darrell Smith.
The allegations involved Smith “selling away” securities of either I-Lenders and Energae to Multi-Financial customers. On July 3, 2013, Smith entered into an Order and Consent to Order and Agreement Docket with the Iowa Insurance Division and his securities agent and insurance producer licenses were revoked and Smith was permanently barred from applying for these licenses. Smith was ordered to pay a civil penalty of $5,000. The July, 2013, Order came after a Cease and Desist Order dated April 10, 2013 issued by the Iowa Securities Division against Smith. The Cease and Desist Order was issued in connection with Smith’s sales of investments in Energae and I-Lenders. I-Lenders is also known as Interested Investors, LLC.
According to FINRA's BrokerCheck, Darrell D. Smith was previously registered with FINRA at the following brokerage firms:
MULTI-FINANCIAL SECURITIES CORPORATION
CRD# 10299
MASON CITY, IA
02/2001 - 03/2012
NEXT FINANCIAL GROUP, INC.
CRD# 46214
HOUSTON, TX
01/2000 - 02/2001
ADVANTAGE CAPITAL CORPORATION
CRD# 146
ATLANTA, GA
08/1994 - 12/1999
If you invested in the with Darrell D. Smith, you may be able to recover your losses. Soreide Law Group, PLLC, represents clients nationwide before FINRA. Call for a free consultation with an attorney at 888-760-6552.
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