Angelo Piccone of IBN Financial Suspended for GWG Sales

PITTSFORD, NEW YORK

Did you invest in GWG L bonds and other alternative investments with financial advisor Angelo Piccone, previously with IBN Financial Services in Pittsford, New York? The investment fraud and securities arbitration law firm of Israels & Neuman is currently examining claims filed by FINRA against this advisor. FINRA suspended him from the securities industry for five months, fined him $10,000, and ordered him to return $23,905 in commissions earned from selling GWG.

FINRA claims that Mr. Piccone advised a client to allocate 77% of their liquid net worth into alternative investments, including GWG, which was deemed speculative and inconsistent with the client’s moderate risk tolerance. In 2022, GWG declared bankruptcy, resulting in substantial losses for investors.

Angelo Piccone was affiliated with IBN Financial Services from April 2011 to November 2024, operating out of Pittsford, New York. He has also been implicated in three other customer complaints.

Israels & Neuman, an investment fraud and FINRA arbitration law firm , represents clients across the U.S., including New York investors.

To see the FINRA AWC against Angelo Piccone, please click HERE.

You can find Angelo Piccone’s BrokerCheck Report HERE.

If you lost money with Angelo Piccone, IBN Financial or GWG investments, contact the law firm of ISRAELS & NEUMAN at (616) 280-4303 or (206) 795-5798 for a Free evaluation of your case.