FINRA filed a cease and desist order in the spring of 2015 against Avenir Financial Group, CEO Michael Clements, and registered representative Karim Ibrahim for fraud against elderly investors. In addition, another registered representative, Cesar Rodriguez, was barred from the securities industry for fraud and for improperly using $77,000 of investor funds for personal expenses. Among the list of complaints: the allegedly defrauding of $250,000 from a 92-year-old investor.
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