SEC
Whistleblower
Advocates

February 19, 2016

IBC Funds, LLC

Trading and Pricing

SANCTION AMOUNT: $2,482,850

Defendants: IBC Funds, LLC

Commission found that Respondent acted as an unregistered broker-dealer in connection with liquidation of microcap stock it acquired through its business model of purchasing outstanding claims from creditors of the issuers and then settling it in court-approved exchanges (which exempts the stock from registration). Respondent was also found to have improperly relied on the aforementioned exemption in several cases where the issuers presented misrepresentations or omissions to the court.

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