FINRA Claim Filed Against Investors Capital Corp Over Alternative Investment Losses

WINTER HAVEN, Fla. - May 17, 2016 - PRLog -- The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of two South Carolina investors alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Investors Capital Corp unsuitably invested the client in the following alternative and high risk investments (among others):

United Development Funding III
Provident Royalties LLC
Odyssey Diversified IX
Eastman Kodak Bonds
Geo Sab De Cv Sr Gtd Nt Bonds
RCS Capital Corp. (stock)

The claim seeks damages between $100,000 and $499,999.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.  It is alleged that Investors Capital Corp failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

Finally, it is alleged that Donnie Ingram (CRD #1416971) was the financial advisor of record at the time of the investment recommendations.  According to Mr. Ingram's FINRA BrokerCheck, he runs the Ingram Financial Group in Winter Haven, Florida

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.

For more information on the claim filed by The White Law Group, please contact the firm's Chicago office a 1-888-637-5510.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.