Karim Ibrahim (Chris Allen) Investigation-Avenir Financial/Legend Securities

Karim Ibrahim (Chris Allen) Investigation-Avenir Financial/Legend Securities 150 150 Robert Rex, Esq.

April 2016- Orangeburg, NY

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

FINRA records are public and can be accessed on the BrokerCheck website. 

The FINRA records of Karim A. Ibrahim (also known as  Chris Allen)  report that he is currently named in  a FINRA regulatory Expedited Complaint, No. 2015044960501, which alleges that he violated Section 10(b) of SEC Act of 1934 in connection with fund raising for self-offerings, including Bull Run Capital Holdings.  The FINRA complaint alleges that “most of the sales were to elderly customers of the Firm”. 

Ibrahim’s FINRA record discloses 2 pending customer disputes:

  • FINRA Case 15-01143-a customer from Ibrahim’s former firm Legend Securities, Inc.,  alleges unauthorized trading, churning, negligence, breach of contract and misrepresentation. Damages are alleged to be $536,180.
  • FINRA Case 15-00155- a customer of Avenir Financial Group alleges various causes of action including excessive commissions, breach of fiduciary responsibility, common law fraud & churning. Damages are alleged to be $1,000,000.

Ibrahim also discloses a pending tax lien of $17,910 owed to NY State.

Ibrahim was registered with Avenir Financial Group from 4/2013-12/2015. He was registered with Legend Securities from 10/2011-4/2013.

If you have losses in an account handled by Karim A. Ibrahim (also known as Chris Allen), and believe that your account was mishandled, call to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

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