Dozens of Investors Allege Iris Israel Involved in Ponzi Scheme

Iris Israel (CRD #: 1547363), a broker formerly registered with Oppenheimer & Company, has been involved in more than 30 investor disputes, according to her BrokerCheck record, accessed on November 14, 2024. Keep reading if you have questions about her alleged conduct as a broker.

2024 Investor Disputes

In a pending dispute filed on October 7, 2024, an investor alleged that Iris Israel engaged in a Ponzi scheme and violated FINRA Rules, Racketeer Influenced and Corrupt Organizations Act (RICO), and Georgia and North Carolina blue sky laws from 2013 to 2016. The client further alleged that Iris Israel breached her contract.

On January 9, 2024, an investor alleged that Iris Israel conducted a Ponzi scheme from 2008 to 2021. The client seeks $1.5 million in damages in this pending dispute.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

What are Blue Sky Laws?

Blue sky laws are state-level regulations that provide investors with an additional layer of protection against securities fraud. They typically also define which types of investments must register with the state securities board.

Settled Disputes

Thirty disputes filed from 2021-2023 alleged that Iris Israel participated in a Ponzi scheme from at least 2003 to 2021. These disputes were settled for a total of $33,557,188.

On December 28, 2021, several investors named Iris Israel in a dispute against Oppenheimer & Company alleging breach of contract, unlawful sales of securities, and violations of FINRA Rules in relation to investment fund Horizon Private Equity III. Investors received a total of $13,979,404.00 in damages. You can access the arbitration award here.

On November 30, 2021, investors filed a dispute naming Iris Israel in allegations of negligence, breach of contract, violations of FINRA Rules and the Georgia RICO statute, and participation in a Ponzi Scheme with regard to investments in Horizon Private Equity III. Claimants received $31,329,996 in damages. You can read the arbitration award here.

On November 10, 2021, Iris Israel was named in a dispute alleging violations of FINRA supervision rules and the California Welfare & Institutions Code in relation to investments in Horizon Private Equity III. Investors received damages of $1,483,670. You can access the arbitration award here.

What is Broker Negligence?

Many types of broker misconduct may qualify as negligence, including unauthorized trading, failure to follow instructions, and unsuitable investment recommendations.

Investors who believe their losses are the result of broker negligence may be able to recover their funds through FINRA arbitration.

Background Information

Iris Israel has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination

She previously worked for the following firms:

• Oppenheimer & Company (CRD#:249)
• CIBC World Markets (CRD#:630)
• PaineWebber (CRD#:8174)
• First Southeastern Securities Group (CRD#:14538)
• Cruttenden & Company (CRD#:15407)
• A. G. Edwards & Sons (CRD#:4)
• Dean Witter Reynolds (CRD#:7556)

Kurta Law Can Help

If you worked with Iris Israel and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.