Michigan-based IMS Securities Broker Beth Debouvre Under Investigation For Unsuitable Investment Recommendations and Breach of Fiduciary Duty

Beth A. Debouvre

CRD#3176483

Silver Law Group is investigating former Grosse Pointe Farms, Michigan-based  IMS Securities broker Beth Debouvre after multiple customer allegations of breach of fiduciary duty and unsuitable investment recommendations were received by FINRA.

According to FINRA’s BrokerCheck report on Debouvre, a complaint was filed in September of 2017 alleging Debouvre provided unsuitable investment recommendations regarding REIT’s. The complaint also alleges breach of fiduciary duty and common law fraud. Damages relating to this complaint totaled $400,000. The complaint is currently pending FINRA arbitration.

Debourvre has a total of 8 pending customer complaints relating to REIT’s on her FINRA Broker Check report. The total damages from these complaints total over $2.7 million dollars.

Debouvre has been employed with IMS Securities since 2003 at their Grosse Pointe Farms, FL location.

Among other investment tenets, brokers are required to recommend suitable investments to their clients. This requires that the broker: Investigates and conducts due diligence into the investment’s attributes including its benefits, risks, tax consequences, and other relevant factors to form a reasonable basis for the recommendation of the product; and appropriately matches the investment with the customer’s specific investment needs and objectives, such as the customer’s retirement status, long or short-term goals, age, disability, income needs, or any other relevant factors.

The misrepresentation or omission of material facts concerning investment recommendations by a brokerage firm and its representatives may be a cause of action in a FINRA arbitration claim for damages. There are two types of misrepresentations and omissions; those that are fraudulent and those that are negligent.

Misrepresentations often occur during the offering process or prior to investing in a particular product.  Misrepresentation can vary in appearance and, if made intentionally, are often times made in order to induce an unwitting investor to invest.  An example of a misrepresentation can include promises of high dividends or that the company of the underlying investment will go public in a year.

If proven, an intentional misrepresentation can have serious consequences, as it is a violation of Rule 10b-5 of the Securities Exchange Act of 1934.

FINRA arbitration is a fast, efficient way to recover your lost investment funds due to unauthorized trading.  The Silver Law Group works on a contingency fee basis, meaning you pay us nothing unless we recover money for you.

If you invested with Beth Debouvre and IMS Securities and have lost money doing so, you may be able to recover some or all of your losses. We are experienced in recovering investor losses due to broker/brokerage firm misconduct and mismanagement through FINRA arbitration.

Silver Law Group represents the interests of investors who have been the victims of investment fraud.  If you have questions about your legal rights, please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll-free at (800) 975-4345.