Jeffrey Dixson (CRD# 4166311) is a previously registered broker and investment adviser who was last registered with Madison Avenue Securities in Vancouver, Washington. Dixson’s BrokerCheck report includes customer disputes seeking hundreds of thousands of dollars in damages regarding the sale of GPB Capital.
Jeffrey Dixson And GPB Capital
3 of the customer disputes brought against Dixson in 2020 involve the sale of private placement investments in GPB Capital Holdings, an alternative investment company that is now accused of being a Ponzi scheme.
Silver Law Group filed the first FINRA arbitration claim against SagePoint Financial regarding GPB and has since filed additional claims against SagePoint and other brokerage firms on behalf of investors seeking to recover GPB losses.
Investors have not only suffered a decline in the value of their GPB investment and stopped receiving dividend payments, they have also watched as government agencies investigate, class actions are filed, and GPB’s Chief Compliance Officer was criminally charged with obstruction of justice. But because of GPB’s illiquid nature, investors must hold their investment and risk further loss in value.
According to a complaint filed by the State of Massachusetts securities commissioner, the Massachusetts Securities Division alleges that local investors contributed more than $14 million to five GPB funds, relying on private placement memoranda, known as PPMs, and other marketing materials which stated that investor distributions would be paid from operational profits. Contrary to the information provided to investors, GPB used investor funds to pay distributions, according to the complaint. However, at this time, this is the only known complaint to be filed by any state securities commissioner.
Many of the FINRA arbitration claims regarding GPB involve failure to conduct due diligence, unsuitability, misrepresentation and omission, and overconcentration.
Jeffrey Dixson Disclosures
Dixson (Jeffrey Raymond Dixson) had been in the securities industry since 2000 and was last registered in 2019. Before joining Madison Avenue Securities (CRD# 23224) in 2007, he was previously registered with Pacific West Securities, Inc (CRD# 6390), Intersecurities, Inc. (CRD# 16164), United Securities Alliance, Inc. (CRD# 36487), and WMA Securities, Inc. (CRD# 32625).
Dixson’s publicly-available FINRA BrokerCheck report lists 12 disclosures, including 11 customer disputes:
May, 2020: A customer dispute alleged “failure to conduct Due Diligence on several points, unsuitable recommendation, over concentration, misrepresentations and omissions in violation of FINRA and WA regulations in the sale of alternative investments starting in 2013.” $1,127,780 in damages are requested. The dispute is pending as of this writing.
April, 2020: A customer dispute states “Claimants allege failure to conduct Due Diligence on several points, unsuitable recommendation, overconcentration, misrepresentations and omissions in violation of FINRA regulations in the sale of GPB.” $500,000 in damages are requested. The dispute is pending as of this writing.
March, 2020: A customer dispute states “Claimants allege failure to conduct Due Diligence on several points, unsuitable recommendation, over concentration, misrepresentations and omissions in violation of Texas and FINRA regulations in the sale of GPB in 2016.” $295,082 in damages are requested. The dispute is pending as of this writing.
February, 2020: A customer dispute states “Claimants allege alternative investments were unsuitable, poor performance, lack of due diligence, elder abuse and failure to supervise. GPB was one of the investments claimant purchased.” $100,000 in damages are requested. The dispute is pending as of this writing.
November, 2019: A customer dispute states “Between 2016 to the present the Claimant has transactions in various alternative investments and fixed index annuities that were alleged as unsuitable. The allegations include Oregon Securities Law, breach of fiduciary duty, negligence and elder abuse.” $150,000 in damages are requested. The dispute is pending as of this writing.
September, 2019: A customer dispute states “Between 2011 to 2017 the Claimant has transactions in various Alternative Investments that were alleged as unsuitable. The allegations include violations of FINRA Rule 2110 high standards of commercial honor and equitable principles of trade, Rule 2111 conducting adequate due diligence, negligence, misrepresentation and omission of material facts, breach of fiduciary duty, violations of Oregon Securities Law and elder abuse.” The dispute is pending as of this writing.
August, 2019: A customer dispute states “Between 4/2012 through 7/2015 the Claimant had transactions in various Alternative Investments that were alleged as unsuitable. The allegations include negligence, professional negligence, violations of law, unsuitable recommendations, negligent supervision, breach of contract, breach of fiduciary duty and breach of securities industry rules and regulations.” $650,000 in damages are requested. The dispute is pending as of this writing.
July, 2019: A customer dispute states “Poor performance and unsuitable investments November 2015” $200,000 in damages are requested. The dispute is pending as of this writing.
April, 2018: A customer dispute states “Client upset over the performance of Gemini Fund V $50,000 investment. Dixson was selling RR. 4530 filed under servicing RR Swasey.” The dispute was closed with no action.
September, 2015: A customer dispute states “Client alleges poor recommendation and poor advice was given in relations to his and his wife’s VA contracts held with Met life Securities. Client alleges that he was not informed about specific product features pertaining to access to his funds and the impact the withdraws would have on his account value.” $180,00 in damages were requested, and the case settled for $140,000.
February, 2010: A customer dispute requested $50,000 in damages regarding 2 variable annuity contracts he sold for a total of $450,000. The customer alleged that Jeffrey Dixson misrepresented the product and that he was uncomfortable with the market risk associated with it. The claim was denied.
November, 2007: A regulatory disclosure initiated by the State of Washington Office of the Insurance Commissioner alleged that Dixson “sold variable annuities to Washington residents that were not approved by the WA Office of the Insurance Commissioner (OIC). Additionally, the WA OIC found that the representative falsely represented that the variable annuity applications were signed in Oregon.” The WA Insurance Commissioner imposed a fine of $6,000.
Silver Law Group Helps Investors Recover GPB Losses
If you invested in GPB Capital, you may have a claim to recover your investment losses.
Silver Law Group, represents investors who have been the victims of investment fraud, including stockbroker misconduct. Scott Silver, Silver Law Group’s managing partner, is the chairman of the Securities and Financial Fraud Group of the American Association of Justice. The firm represents investors nationwide in securities investment fraud cases. Contact us today for a no-cost consultation at firstname.lastname@example.org or toll free at (800) 975-4345.