Articles Tagged with Future Income Payments

Texas Revokes George Marwieh’s RIA License

Our broker misconduct lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are investigating claims by customers who were sold Future Income Payments notes by their financial advisers or brokers. One of these advisers, George A. Marwieh, got his license revoked by the state of Texas. This bars him from working as a registered investment adviser (RIA) in Texas. Marwieh and his Marwieh Advisory Services, LLC are based in Austin, Texas.

Future Income Payments is accused of running a Ponzi scam that defrauded over 2600 investors of more than $300M. Many of those who lost money were retirees and US veterans.

Ex-NYLIFE Securities Broker Accused Of Selling Investments In Mass Ponzi Scam 

If you suffered losses after former NYLIFE Securities broker, Kari Bracy, also known as Kari Falwell, or any other registered representative persuaded you to invest in Future Income Payments, please contact Shepherd Smith Edwards and Kantas (SSEK Law Firm) today. 

Our stockbroker securities law firm has been looking into claims involving Future Income Payments, LLC. By the time the company stopped doing business in 2018, over 2600 investors were owed more than $300M. The firm has since been accused of running a Ponzi scam. 


Over 1000 Investors May Be Victims of Alleged Future Income Payments Fraud

Dozens of stockbrokers, financial planners, financial advisers, and insurance agents are now the defendants of investor fraud lawsuits over an alleged $100M scam that may have bilked over 1000 investors. Many of these investors were retirees, which means that elder investor fraud may have been involved.

InvestmentNews reports that according to the plaintiffs, the advisers breached their fiduciary obligation and were negligent when they sold them structured cash flows offered by Future Income Payments, LLC. At least 370 investment intermediaries in the US are believed to have sold these investments to investors, with the representatives receiving 6-10% in commissions upfront.

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