Securities Fraud Lawyer Blog
The securities attorneys at The Law Office of David Liebrader have opened an investigation into the sales of Pension Funding LLC by registered representative Kenneth Anderson of IBN Financial Services of Massena, NY. Our firm has received calls from investors who were solicited by Kenneth Anderson of IBN Financial to purchase the Pension Funding investments, which have gone into default.
Pension Funding, LLC formerly of Huntington Beach California has been the subject of multiple court actions concerning its business practices. Investors who purchased the Pension funding contracts may have recourse against the agents who solicited their investments, including Kenneth Anderson of IBN Financial Services.
On March 5, 2015 the State of California’s Department of Business Oversight issued a cease and desist order against Pension Funding LLC; its related companies, Pension Income LLC and U.S. Pension Funding, and its officers, Rex Hofelter and Edward Lichtig.
In addition to the State of California’s Cease and Desist Order, the Superintendent of Financial Services for the state of New York filed a lawsuit in August 2015 against Pension Funding LLC in the U.S. District Court for the Central District of California seeking a permanent injunction and the appointment of a receiver against the company.
Among the allegations against Pension Funding are that the company solicited investors in order to raise money to buy out the retiree’s pensions. These investors were promised returns of six percent, and the funds they invested with the company went to fund the loans to pension beneficiaries. According to the complaint, agents who recruited investors into the program were paid a commission of nine percent.
In order to lawfully sell investments to the public, a salesman must either be registered or exempt from registration
Kenneth Anderson has been registered with the following firms
Since January, 2007:
IBN FINANCIAL SERVICES, INC.
244 MAIN ST, MASSENA, NY 13662
Prior to that, Kenneth Anderson was registered with:
September 1996 – January 2007
TOWER SQUARE SECURITIES, INC.
August 1994- September 1996
ADVANTAGE CAPITAL CORPORATION
According to FINRA’s CRD disclosure report, Kenneth Anderson has not been the subject of any customer complaints or regulatory investigations.
If you are the victim of investment fraud, or if you have lost money investing with Pension Funding LLC through Kenneth Anderson of IBN Financial Services, please call The Law Office of David Liebrader at (702) 380-3131 for a free, confidential consultation to discuss your legal rights and options. Our firm takes cases on a straight contingency fee, with no money up front, and no money owed unless there is a recovery.
There is no charge for the initial consultation, so call (702) 380-3131 today to speak with an experienced securities attorney who will fight to recover your losses.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 23 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via fraudulent and unsuitable investment transactions. During that time we have recovered money for over one thousand individuals, pension plans, trusts and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.