FLG Files Claim Against Independent Financial Group Concerning Selling Away Claims

Furgison Law Group files claim against Independent Financial Group related to First Nationle Solution Ponzi Scheme

The securities fraud lawyers at Furgison Law Group recently filed a FINRA arbitration claim in Los Angeles, California against Independent Financial Group after its broker recommended the services of an individual who was running a Ponzi scheme. Our investment fraud attorneys are also investigating other claims involving Jon Pariser (CRD# 2755015), Christopher A. Parris and others. The arbitration attorneys at Furgison Law Group are investigating claims involving allegations of selling away, breach of fiduciary duty, unsuitable investment recommendations, failure to supervise, misrepresentations, omissions of material facts, conflict of interests, violations of state and federal securities laws, along with other broker misconduct.

Allegations of Misconduct

The statement of claim alleges the Claimant was the client of Independent Financial Group and its broker, Jon Pariser. In or around June 2017, Pariser informed the Claimant that he was retiring but had a capable and skilled professional he recommended. This individual was Christopher A. Parris, an individual who had been unlicensed for over a decade.

Pariser allegedly told the Claimant that Parris came highly-recommended and that he could be trusted, despite the fact that Parris had been suspended by FINRA less than two (2) years prior. The Claimant, according to the statement of claim, was unaware of this fact and trusted Pariser’s professional opinion.

Pariser had initially sold the Claimant an annuity. Parris immediately recommend the Claimant surrender that annuity in full and invest in a Ponzi scheme he and other individuals were allegedly orchestrating. The name of the purported investment the Claimant invested in is First Nationle Solution.

Upon information and belief, Independent Financial Group failed to supervise Pariser and allowed him to make an unsuitable recommendation to invest with Parris. Due to Independent Financial Group’s securities misconduct, the Claimant lost over $135,000.00.

Investors Have the Right to Recover Their Losses

When investments are sold by brokerage firms licensed by FINRA, they are subject to the laws that FINRA enforces. The brokerage firms are responsible for ensuring that their brokers are trading fairly, ethically and in the best interest of their clients. Ideally, they would accomplish this through careful supervision. Unfortunately, too often this supervision has been inadequate to fully protect investors. If you purchased any investments through a representative of a registered brokerage firm and suffered losses through negligence or fraud, it immediately puts the brokerage firm at fault for failing to supervise their broker. FINRA law then dictates that you can hold the firm legally liable to recover your damages.

Can I recover my investment losses?

If you lost a substantial portion of your retirement savings or other assets as a result of investments purchased through Jon Pariser or Independent Financial Group, please contact us immediately. Our investment fraud lawyers have recovered millions of dollars from the largest banks, insurance companies and brokerage firms in the world on behalf of investment fraud victims. You may have certain legal rights that require your immediate attention. Time is of the essence in these claims. The sooner you act, the greater your chances of recovering your investment losses. Don't wait. Contact us TODAY for a FREE Consultation and case evaluation. We will tell you if you have a viable claim worth pursuing.