Equities First Holdings
Stock loans where they sell the securities to fund you

The company claims to offer a "stock loan" but the process is the same as Derivium, which has been the subject of numerous lawsuits and regulatory actions for selling their customer's securities. This company sells some or all of a customer's securities to fund their "loans" and keeps the difference. It continues to suck in unsuspecting clients and nobody can figure out why the SEC hasn't shut them down yet. They had one lawsuit recently where the client could not get his shares back because they had sold them. When a client pays back the loan, Equities First has to go into the market to buy back the shares. They have no financial statements and no audited cash reserves nor any sort of regulatory oversight.

Many people are taken into this sort of scam all the time. Stick with licensed and regulated financial institutions only and demand proof of financial health before you hand all your securities over to these guys.

Offender: Equities First Holdings
Country: USA   State: Indiana
Site: equitiesfirst.com

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