KARI MARLIN BRACY (KARI M BRACY, KARI MARLIN FARWELL) CRD#: 5656186 formerly with NYLife Securities Inc. of Jacksonville Beach, Florida,  was barred by FINRA from acting as a broker or otherwise associating with a broker-dealer firm on January 23, 2020.  According to the FINRA report, without admitting or denying FINRA’s findings, Bracy consented to the sanction and to the entry of findings that she allegedly refused to appear for on-the-record testimony as requested by FINRA in connection with its investigation of Bracy’s sale of a Future Income Payments, LLC‘s structured cash flow investment, comprised of pension streams.

The Financial Industry Regulatory Authority Inc. (FINRA) barred KARI M BRACY, allegedly for not appearing for testimony related to the investigation of her selling Future Income Payments, an alleged Ponzi scheme. Bracy was being investigated by FINRA allegedly due to the sale of the investments.

According to an article from InvestmentNews, the Justice Department stated that Future Income Payments allegedly recruited pension holders who were desperate for money, including many veterans of the armed forces. Future Income Payments diverted new investor funds to fund payments to earlier investors to keep the Ponzi-like scheme going. When the scheme ceased doing business early in 2018, investors were owed around $300 million.

According to FINRA’s BrokerCheck, KARI M BRACY has 2 Disclosures on her CRD report.  One was a Customer Dispute alleging, “Claimant alleges that in December 2017 her investment in Future Income Payments, LLC (FIP), a private securities transaction, was misrepresented as a conservative and safe investment with a 7.5% annual return for ten (10) years.” The settlement was $80,000.

Bracy was registered in the securities industry for 9 years and listed with the following firm:

07/15/2009 – 01/30/2019  NYLIFE SECURITIES LLC – JACKSONVILLE BEACH, FL 

If you or a family member have suffered losses due to the actions or recommendations of the former NYLIFE SECURITIES LLC of JACKSONVILLE BEACH, FL, broker KARI M BRACY, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer regarding the possible recovery of your financial losses through a FINRA arbitration at:  888-760-6552.

Soreide Law Group works on a contingency fee basis and represents clients nationwide before FINRA.