Former IFG rep Jeffrey Schwebach Ordered to Disgorge Over $19K

Suspended by FINRA for selling promissory notes without permission

If you’ve lost money investing with Jeffrey Schwebach or Independent Financial Group, you may have a claim. Contact Sonn Law today by filling out our form to submit a confidential message, or call us anytime at 866–827–3202 to schedule a free consultation.

Broker Jeffrey P Schwebach, (CRD# 1606537), formerly of Independent Financial Group (IFG) of South Dakota, has been suspended by FINRA for selling promissory notes without the permission of his firm and despite a firm prohibition of their sale.

According to FINRA’s BrokerCheck record, Schwebach has 30 years of industry experience with five firms, most recently with IFG of Dell Rapids, SD (2010–2018); Allegiant Securities of Miami, FL (2009–2010); and Princor Financial Services, also of Dell Rapids, SD.

Schwebach has two disclosures in his FINRA record.

A cease-and-desist order and a fine of $20,0000 were levied against Schwebach in April 2018 based on allegations that he failed to obtain proper approval from his firm before engaging in private securities transactions with Woodbridge Wealth.

Schwebach was terminated from IFG in June 2018 for violation of firm policy with regard to disclosure of a customer complaint.

Jeffrey R. Sonn is a securities fraud lawyer with more than three decades of successful experience representing investors nationwide. If you suffered illegitimate investment losses with Jeffrey Schwebach, Mr. Sonn can help. Contact our law firm today for a free case evaluation.