IMPORTANT NOTICE TO INVESTORS WHO SUFFERED LOSSES IN ICAP AND BAKKEN DRILLING FUND
If You Suffered Investment Losses in ICap or Bakken Drilling Investments, Contact the Law Firm of KlaymanToskes
PHILADELPHIA, PA, UNITED STATES, December 3, 2024 /EINPresswire.com/ -- National investment loss and securities law firm KlaymanToskes1 issues an important notice to investors who suffered losses in iCap private placements2 and Bakken Drilling Fund III LP, following the law firm’s filing of a FINRA arbitration claim on behalf of an investor who is seeking to recover damages up to $500,000. The law firm urges all investors who suffered losses in iCap investments and/or Bakken Drilling Fund to contact the firm immediately at 888-997-9956.KlaymanToskes reports the firm has filed a FINRA arbitration claim (Case no. 24-02488) against IBN Financial Services on the behalf of a 79-year-old retired investor who is seeking to recover damages of up to $500,000 in connection with being recommended to invest in unsuitable iCap private placement and Bakken Drilling Fund III LP investments by her financial advisor, Anthony Diaz (CRD #4131948)3.
According to the lawsuit filed by KlaymanToskes, the client sought low-risk, income-producing investments to support her retirement, but was instead recommended high-risk, illiquid investments by IBN Financial Services and broker Anthony Diaz. These speculative private placements, including iCap and Bakken Drilling Fund III LP, were misrepresented to the customer as safe and suitable, despite their inherent risks and lack of liquidity.
The claim further alleges that the brokerage firm failed to perform the proper due diligence required under FINRA regulations when offering these high-risk investments. iCap halted interest payments in March 2023 and subsequently filed for Chapter 11 bankruptcy, leaving investors without access to their principal or promised returns. Meanwhile, Bakken Drilling Fund III LP was linked to prior SEC findings of excessive fees and lack of adequate disclosures.
Anthony Diaz was charged in May of 2016 by the U.S. Attorney’s Office for having devised a scheme and artifice to defraud and obtain money and property by means of materially false and fraudulent pretenses, representations and promises in the sale of alternative investments. Diaz was found guilty of failing to explain to clients that the investments lacked liquidity and that there was no public market for resale. In 2020, Diaz was found guilty on 11 counts of criminal fraud.
Investors who suffered losses in iCap, Bakken Drilling Fund III LP, or any other investments are encouraged to contact attorney Steven D. Toskes at 888-997-9956 or by email at investigations@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Steven D. Toskes, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
investigations@klaymantoskes.com
1 http://klaymantoskes.com/contact/
2 http://klaymantoskes.com/investigations/icap-equity-investor-loss-investigation/
3 http://klaymantoskes.com/broker-investigation/broker-misconduct-investigation-anthony-diaz-ibn-financial-services/
