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Derek Malone: $250K Complaint Against Infinex Advisor
New York City financial advisor Derek Malone (CRD# 5495233) has received multiple investor complaints alleging that he misrepresented investments. Financial Industry Regulatory Authority records show that he is a broker and an investment advisor with Infinex Investments, having previously been registered with Essex National Securities.
Mr. Malone’s BrokerCheck report discloses four investor complaints. The most recent, filed in May 2023, alleges that as a representative of Infinex Investments, he misrepresented a certificate of deposit (CD). The pending complaint alleges damages of $250,000.
An earlier investor complaint, filed in May 2023, similarly alleges that as an Infinex representative, he misrepresented a CD product. The pending complaint alleges damages of $150,000.
A third investor complaint, filed in 2021, alleges that as a representative of Essex National Securities, he misrepresented to the customer that a real estate investment trust (REIT) product was “safe, conservative, and liquid.” The pending complaint alleges damages of $44,000.
A fourth investor complaint, filed in 2020, alleged that he recommended an unsuitable real estate investment. In 2021 the complaint reached a settlement of $55,000.
According to the Financial Industry Regulatory Authority, Derek Malone holds 15 years of securities industry experience. Based in New York City, he has been a broker and an investment advisor with Infinex Investments since 2016. His registration history includes Essex National Securities (New York, New York; 2010-2016) and LPL Financial Corporation (New York, New York; 2008-2010). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is licensed in New Jersey and New York. (Information current as of July 25, 2023.)
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