Jeffrey Raymond Dixson of Vancouver Washington a stockbroker formerly registered with Madison Avenue Securities LLC is referenced in a customer initiated investment related arbitration claim where the customer sought $225,000.00 in damages supported by allegations that the customer had been provided with unsuitable recommendations of alternative investments including GPB which led the customer to experience losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-02744 (Aug. 31, 2020). According to the claim, insufficient due diligence was performed by the stockbroker before making investment recommendations to the customer.
FINRA Public Disclosure reveals that Dixson has been identified in twelve more customer initiated investment related disputes containing accusations of his misconduct during the time that he was employed by Madison Avenue Securities and Bankers Life Securities. On February 10, 2020, a customer filed an investment related arbitration claim involving Dixson’s conduct in which the customer requested $100,000.00 in damages based upon allegations that the customer had been placed into unsuitable investments including GPB which poorly performed. FINRA Arbitration No. 20-00316. The claim indicates that the investments were not vetted by the stockbroker and that his transactions lacked supervision. According to the claim, the customer suffered from elder abuse by Dixson as it relates to the customer’s purchases of direct investments including direct participation programs or limited partnership interests.
Dixson is also identified in a customer initiated investment related arbitration claim where the customer sought $295,082.00 in damages supported by accusations that FINRA regulations and Texas laws were violated by Dixson with regard to the GPB sales that he effected in 2016 during the period that he was associated with Madison Avenue Securities. FINRA Arbitration No. 20-00509 (Mar. 2, 2020). The claim alleges that due diligence was not completed and that the customer’s account was over-concentrated in bad investments. Misrepresentations and omissions were allegedly made to the customer by Dixson in regard to direct investments.
On April 6, 2020, another customer filed an investment related arbitration claim involving Dixson’s activities in which the customer requested $500,000.00 in damages supported by allegations that alternative investments purchased for the Madison Avenue Securities customer’s investment portfolio had violated FINRA regulations. FINRA Arbitration No. 20-01063. According to the claim, omissions and misrepresentations had been made by the stockbroker. The claim also alleges a failed due diligence process on alternative investments which were also inappropriate for the customer to invest in.
Dixson is also the subject of a customer initiated investment related arbitration claim where the customer sought $1,127,780.00 in damages founded on accusations of regulatory infractions in regard to the customer’s investments in real estate securities and direct investments. FINRA Arbitration No. 20-01285 (May 11, 2020). The claim alleges that the Madison Avenue Securities customer had been advised to purchase investments without the stockbroker performing due diligence. Transactions were allegedly misrepresented by the stockbroker and had resulted in an excessive concentration in risky investments.
On August 24, 2020, another customer filed an investment related arbitration claim involving Dixson’s conduct in which the customer requested $100,000.00 in damages based upon allegations of Dixson’s bad recommendations which resulted in the customer’s losses on alternative investments including GPB. FINRA Arbitration No. 20-02628.
GPB may be substantially worthless and presented a high degree of risk, and was operating much like a Ponzi Schement in thatdistributions were paid out of working capital which could include investor contributions or funds flowing from new investors. In addition, approximately 20 percent or more of the $1.8 billion raised by GPB was used to pay for marketing and commissions, including “due dilligence” fees paid to the underwriters, and retail brokers selling GPB to their customers, and the Officers and directors of GPB were utilizing investor funds to monetize personal business interests by selling these interests to the company at inflated prices.
Dixson was registered with Madison Avenue Securities between November 29, 2007 and December 31, 2019.
