Securities Arbitration Lawyers BlogKari Bracy
Kari Marlin Bracy (aka Kari Marlin Farwell, CRD #5656186) is a registered broker employed by NYLIFE Securities LLC (CRD #5167) of Jacksonville, FL. She has been in the industry since 2009, and only with NYLIFE.
Bracy is the subject of one disclosure, filed on 7/31/2018. In it, the client claims that when she invested in Future Income Payments, LLC in December of 2017, Bracy misrepresented this as a safe, conservative investment with a 7.5% annual return for ten (10) years. The client is requesting damages of $142,697.27. Bracy denies the allegations.
Future Income Payments, LLP (FIP) is the subject of a complaint filed by the Bureau of Consumer Financial Protection (BCFP). Filed in the Central District of California, the complaint alleges that the defendants violated the Consumer Financial Protection Act of 2010, 12 U.S.C. § 5536(a)(1)(B), by expressing to consumers that their “pension-advance products” were not loans and not subject to interest rates. The company also claimed that they were comparable to or cheaper than credit card rates. These “purchases” were, indeed, actually very high-interest loans. The company has since shut down, stopped making payments, and the owner, Scott Kohn, is now unavailable. These loans were sold through intermediaries primarily in the Los Angeles, Houston, Chicago, northern Florida and Philadelphia areas.