Public records published by the Financial Industry Regulatory Authority (FINRA) on November 21, 2016 indicate that former Georgia-based IFS Securities broker James Powers has been named in a pending regulatory complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Powers (CRD# 2450818).
James Powers has spent 22 years in the securities industry and was most recently registered with IFS Securities in Atlanta, Georgia (2016). Previous registrations include Celadon Financial Group in Chatham, New Jersey; DU Pasquier & Company in New York, New York; Magna Securities in New York, New York; Sharpe Capital, which has been expelled by FINRA, in New York, New York; and Kidder Peabody & Company in New York, New York. He is currently not registered with any state or firm.
According to his BrokerCheck report, James Powers is the subject of a pending FINRA complaint.
In November 2016 James Powers was named in a pending FINRA complaint alleging “that while employed at his member firm [Du Pasquier & Company] as an equity trader, he used his control over firm trading accounts to create fictitious trades between a firm trading account and his personal account for his own personal profit, converted customer funds, caused the firm to create trade confirmations that misrepresented the prices of customers’ trades, and hid a loss he incurred in a firm trading account by repeatedly entering unauthorized, fictitious customer trades and subsequently cancelling them before settlement.” According to FINRA’s complaint, he “abused this authorization to trade between the firm’s trading account and his own personal account in transactions that had no business purpose and were conducted only to capture trading profits in Powers’ own account” and “guaranteed himself trading profits at the expense of the firm and received at least approximately $388,133 in illicit trading profits.” The complaint remains pending.
If you or someone you know has lost money investing with James Powers, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.