Patrick Ingram: Insurance Policy Complaints Against Ex-NYLife Rep

Patrick IngramPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on January 10, 2019 indicate that former Mississippi-based NYLife Securities broker Patrick Ingram, who has received resolved or pending customer disputes, recently resigned from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Ingram (CRD# 255022).

Patrick Ingram has spent 44 years in the securities industry and was most recently registered with NYLife Securities in Cleveland, Mississippi (1996-2018). Previous registrations include NYLife Securities in New York, New York (1982-1995) and New York Life Variable Contracts Corporation (1970-1979). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 24, 1996; SIE (Securities Industry Essentials Examination), which he obtained on October 1, 2018; and Series 1 (Registered Representative Examination), which he obtained on October 7, 1970. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received two customer complaints, one denied customer complaint, and one pending customer complaint, and he recently resigned from his former employer in connection to alleged rule violations.

In December 2018 a party of customers alleged Patrick Ingram, while employed at NYLife Securities, sold insurance policies as guaranteed a “4% return for life.” The customers are seeking unspecified damages in the pending complaint.

In October 2018 he was “permitted to resign” from his position at NYLife Securities in connection to allegations he accepted funds from a client for an unapproved investment—a “linen cleaning and rental business” under his ownership—in violation of firm policy.

In July 2018 a customer alleged Patrick Ingram, while employed at NYLife Securities, told him an insurance policy purchased in 1998 would have $150,000 in cash value in 20 years when in fact he received a lapse notice. The complaint settled in August 2018 for more than $43,300.

In 2016 a customer alleged Patrick Ingram, while employed at NYLife Securities, represented that certain insurance policies would have an increased death benefit and cash value when in fact they both decreased and one of the policies was “becoming unaffordable.” The complaint settled for more than $600.

In 2010 a customer alleged he, while employed at NYLife Securities, made unsuitable insurance policy replacements. The customer sought unspecified damages in the complaint, which was denied.

If you have lost money investing with Patrick Ingram, call Fitapelli Kurta at 877-238-4175 without delay. You may be entitled to recoup your losses. We accept all cases on contingency: Fitapelli Kurta only gets paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.

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