{"id":18195,"date":"2019-08-20T14:04:40","date_gmt":"2019-08-20T19:04:40","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=18195"},"modified":"2019-08-29T14:08:04","modified_gmt":"2019-08-29T19:08:04","slug":"alleged-unauthorized-trades-by-ifs-securities-trader-causes-10m-in-losses","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/alleged-unauthorized-trades-by-ifs-securities-trader-causes-10m-in-losses\/","title":{"rendered":"Alleged Unauthorized Trades by IFS Securities Trader Causes $10M in Losses"},"content":{"rendered":"<p>According to <em><a href=\"https:\/\/www.investmentnews.com\" target=\"_blank\" rel=\"noopener noreferrer\">InvestmentNews<\/a><\/em>, IFS Securities, a broker-dealer based in Atlanta, Georgia, may be facing at least $10M in losses after Keith Wakefield, the firm\u2019s ex-municipal securities principal, allegedly executed unauthorized trades and shorted Treasury bonds. He was fired earlier in August 2019.<\/p>\n<p>IFS Securities is owned by IFS Group Inc. The brokerage firm reportedly notified the <a href=\"http:\/\/www.finra.org\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Industry Regulatory Authority (FINRA)<\/a>, the <a href=\"https:\/\/www.sec.gov\" target=\"_blank\" rel=\"noopener noreferrer\">US Securities and Exchange Commission (SEC)<\/a>, and the <a href=\"https:\/\/www.fbi.gov\" target=\"_blank\" rel=\"noopener noreferrer\">Federal Bureau of Investigation (FBI)<\/a> about the significant losses it sustained due to the unauthorized securities transactions that reportedly did not involve any customer assets. IFS Group works with institutional investors.<\/p>\n<p>Wakefield was with IFS Securities since 2011. His <a href=\"https:\/\/brokercheck.finra.org\/search\/genericsearch\/grid\">BrokerCheck record<\/a> cites allegedly making fake trades and fraud as the reasons for his termination. With 19 years as a registered broker, Wakefield was previously with Cabrera Capital Markets, LaSalle Financial Services, and ABM Amro Inc.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/alleged-unauthorized-trades-by-ifs-securities-trader-causes-10m-in-losses\/\"  title=\"Continue Reading Alleged Unauthorized Trades by IFS Securities Trader Causes $10M in Losses\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to InvestmentNews, IFS Securities, a broker-dealer based in Atlanta, Georgia, may be facing at least $10M in losses after Keith Wakefield, the firm\u2019s ex-municipal securities principal, allegedly executed unauthorized trades and shorted Treasury bonds. He was fired earlier in August 2019. IFS Securities is owned by IFS Group Inc. The brokerage firm reportedly notified [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6445,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773],"tags":[4154,4155],"class_list":["post-18195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-broker-fraud","tag-ifs-securities","tag-keith-wakefield"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Alleged Unauthorized Trades by IFS Securities Trader Causes $10M in Losses | SSEK Law Firm<\/title>\n<meta name=\"description\" content=\"IFS Securities, a broker-dealer based in Atlanta, may be facing at least $10M in losses after Keith Wakefield allegedly executed unauthorized trades.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/alleged-unauthorized-trades-by-ifs-securities-trader-causes-10m-in-losses\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Alleged Unauthorized Trades by IFS Securities Trader Causes $10M in Losses | SSEK Law Firm\" \/>\n<meta name=\"twitter:description\" content=\"IFS Securities, a broker-dealer based in Atlanta, may be facing at least $10M in losses after Keith Wakefield allegedly executed unauthorized trades.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.investorlawyers.com\/blog\/wp-content\/uploads\/2018\/09\/9.5.18.jpeg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; 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