Previously registered broker Jeffrey Raymond Dixson has multiple customer dispute disclosures filed on the allegations of unsuitable investment recommendations, and violation of the Financial Industry Regulatory Authority (FINRA) rules among others, according to an investigation of public records by lawyer Alan Rosca.
The investment lawyers of Rosca Scarlato LLC law firm including Alan Rosca and Paul Scarlato are investigating the unsuitable investment recommendations allegations involving Jeffrey Raymond Dixson by his customers, and are encouraging concerned investors to contact attorneys Rosca or Scarlato by calling 888-998-0530, via email at arosca@rscounsel.law or pscarlato@rscounsel.law, or leave a message by using a contact form on this page.
From November 2007 till December 2019, former broker Jeffrey Dixson was last in the employment of Madison Avenue Securities, a FINRA member firm in Vancouver, Washington. He was in the employment of the firm when the alleged acts leading to the customer disputes took place.
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Dixson is the Subject of Multiple Customer Dispute Disclosures
According to publicly available information reviewed by the RS investor lawyers, as of the date of this article, former broker Jeffrey Dixson has eleven customer dispute disclosures filed between the period of July 2019 and November 2020. The customer disputes were predominantly on the allegations of unsuitable investment recommendations, misrepresentations and the violation of FINRA rules. Some of these allegations were made in relation to the sale of GPB investments according to the report on his FINRA Brokercheck page.
The latest dispute was initiated in November 2020 on the allegation of unsuitable recommendations of GPB and other alternative investments. The client is seeking to recover $151,507 in damages.
In another customer dispute involving former broker Jeffrey Dixson filed in October 2020 on the allegation of unsuitable recommendations of alternative investments including GPB Automotive, the client is seeking to recover $200,000 in damages.
According to the report, in October, 2020, another dispute was initiated by a cuystomer of Jeffrey Raymond Dixson on the allegation of unsuitable recommendations of alternative investments. The customer did not specify the amount of the alleged damages, but the total amount invested in alternative investments was reportedly $235,000.
In another customer dispute involving ex broker Jeffrey Dixson filed in September 2020 the customer alleged unsuitable recommendation of GPB Automotive and one additional alternative investment. The dispute is filed with FINRA and the customer is alleging to have suffered damages in the amount of $100,000.
Another customer dispute was initiated in May 2020. The client alleged failure to conduct due diligence on several points, over concentration the investment portfolio, and misrepresentations and omissions which were in violation of FINRA and Washington regulations on the sale of alternative investments, while Jeffrey Dixson was registered with Madison Avenue Securities. The client is seeking to recover $1,127,780 in damages.
In another dispute on very similar allegations instituted in February, 2020, the client is seeking $295,082 in damages. In this dispute, the client alleges failure to conduct due diligence on several points of their investments. The client further alleges the unsuitability of their investments and the violation of Texas and FINRA regulations in respect of the sale of GPB investments in 2016.
In November 2019, a client filed a dispute alleging that various alternative investments and fixed index annuities were unsuitable. The customer is also alleging breach of Oregon Securities Law, negligence, and elder abuse. The investment product types involved include real estate security, direct investments, and fixed annuities, and the alleged damages amount to $150,000.
In a dispute filed in September 2019, a customer made allegations of unsuitability, elder abuse, violation of Oregon securities law and FINRA regulations. The FINRA regulations violated as alleged by the investor include Rule 2110 which allegedly imposes a high standard of commercial honor and equitable principles of trade; and Rule 2111 which allegedly requires the conduct of adequate due diligence and sanctions negligence, breach of fiduciary duty, misrepresentation and omission of material facts. The customer is requesting $650,000 in alleged damages.
Another client alleges that between April 2012 and July 2015, various alternative investments that were unsuitable in a customer dispute initiated in August 2019. In this dispute, the client further made allegations of professional negligence, violations of law and securities industry regulations, negligent supervision, breach of contract and breach of fiduciary duty among others. The client in this dispute is seeking to recover $650,000 in damages according to the reports.
In July 2019, another client alleged that their investments made in November 2015 were unsuitable and performed poorly. This client is also seeking damages to the tune of $200,000.
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Jeffrey Dixson Was Subject to Multiple Customer Dispute Disclosures That Show as Concluded in Settlements
The FINRA Brokercheck Report for Jeffrey Dixson shows as of the date of this article that the former broker has been the subject of six settled customer disputes.
In July 2019 a customer filed a claim alleging poor performance and unsuitability of investments requesting $200,000 in damages. The dispute concluded in September 2020 in a settlement to the tune of $85,000.
Another customer, who filed a FINRA claim in November 2019 alleging unsuitability of alternative investments and fixed indexed annuities, settled in September 2020 for $52,500.
In a dispute initiated in August, 2020 on the allegation of unsuitable recommendations of alternative investments, including GPB and poor due diligence, the client was seeking to recover $225,000 in damages but the accepted a settlement of $120,991.22 to conclude the dispute.
In another customer dispute involving former broker Jeffrey Dixson filed in March 2020, the client also alleged tfailure to conduct proper due diligence on the investments and the recommended investment was unsuitable. The client also alleged the overconcentration of their investments, misrepresentations and the violation of FINRA regulations in the sale of the GPB investments. The client was seeking to recover $500,000 in damages from this dispute and the dispute was settled in December 2020 for $100,000.
According to the reports, in January 2020, another customer dispute was initiated by a Jeffrey Dixson customer on the allegations that the alternative investments were unsuitable and their investment performed poorly. The client, who was seeking $100,000 in damages from this dispute also claimed that GPB investments were part of the investments purchased by the previously registered broker. This dispute was settled in December 2020 for $52,500.
Finally, in 2015, a customer alleged poor recommendations and poor advice. The customer requested $180,000 in alleged damages, but accepted $140,000 in settlement to conclude the matter.
GPB Ponzi Scheme Allegations and Class Action Lawsuit
Common to some of the pending customer disputes mentioned above is the investment into the GPB investments. GPB investments were floated by GPB Capital Holdings, a company headquartered in New York City. The GBP investments are allegedly a portfolio of alternative investments in cash and income generating businesses in various sectors. Some of the sectors invested into include, waste management, automobile retail, technology enabled services and healthcare among others.
GPB Capital Holdings is alleged to have raised over $1.8 billion in capital for the various investments. GPB Capital Holdings has been allegedly described as a Ponzi scheme.
Various state and federal regulatory authorities including FINRA, the Securities and Exchange Commission, and the State of Massachusetts securities division have been reportedly investigating GPB entities and/or broker-dealer firms that marketed and sold GPB investments to investors. The scrutiny into the company began in 2018 when the company announced that it will stop the sale of additional shares and it suspended the payment of dividends to address some accounting issues the firm had. This subsequently led to the significant drop in the value of several GPB investments as reported.
The Rosca Scarlato LLC law firm currently represents investors in a class action lawsuit instituted against GPB Capital Holdings.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyer Investigating
The Rosca Scarlato LLC law firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating circumstances related to multiple customer dispute disclosures involving former broker Jeffrey Dixson, including his alleged participation in the GPB Capital Holdings Ponzi scheme.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors concerned about investments with Jeffrey Raymond Dixson or his alleged participation in the GPB Capital Holdings Ponzi scheme, may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
