Kari Bracy, Formerly of NYLife Securities, Inc., Barred by FINRA for Failure to Appear for Testimony

Bracy allegedly sold investments in Future Income Payments, an alleged Ponzi scheme.

The Sonn Law Group is investigating allegations that Kari Bracy sold Future Income Payments. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Kari Bracy - NYLife SecuritiesKari Bracy (CRD#: 5656186was employed by NYLife Securities from 2009 until 2019. She was being investigated by FINRA regarding the sale of investments. After she refused to appear for on-the-record testimony related to the investigation, FINRA barred her from the industry. 

According to her BrokerCheck profile, Bracy was the subject of a customer complaint stemming from the sale of Future Income Payments which was settled for $80,000. 

According to the Justice Department, Future Income Payments actively recruited pension holders who were desperate for money, including many veterans of the U.S. armed forces.

Future Income Payments diverted new investor funds flowing into the business to fund payments to earlier investors in order to keep the scheme operational, which is the definition of a Ponzi scheme. When the scheme ceased doing business in early 2018, investors were owed approximately $300 million. 

Contact Us Today

The Sonn Law Group is currently investigating allegations that Kari Bracy sold Future Income Payments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.