Discharged from his position after a review of his business practices raised a number of concerns.
Sonn Law is investigating Former Nylife Securities broker George Shadie. We represent investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 866–827–3202, or complete our contact form for a free consultation.
George R. Shadie (CRD# 2513286) is a previously registered broker. Mr. Shadie was a registered representative with Nylife Securities, LLC, based in Wilkes Barre, Pennsylvania for his entire career from 1995 to early 2019. He was discharged from his position with Nylife in February 2017 after a review of his business practices raised a number of concerns.
Mr. Shadie’s BrokerCheck report contains 7 additional disclosures, four of which are customer disputes dating back to 2012. The other three are civil liens.
The oldest dispute, filed on February 27, 2012, alleged that the signature on a tax form related to the purchase of a fixed immediate annuity was not authentic. Additionally, the customer alleged that he received misleading information regarding the tax consequences of a withdrawal from his variable annuity. This dispute was settled for $97,467.90.
The next dispute was filed in July of 2012 and alleged that a proposal to purchase fixed immediate annuities by liquidating existing stocks and mutual funds was implemented with the customers’ full knowledge and understanding. The $1,228 settlement amount was for what the customers were charged for the meeting discussing the proposal and was paid by Nylife.
The second most recent dispute was filed on October 24, 2018 and alleged that transactions in two variable annuities at another firm were initiated without the customer’s authorization. The matter was settled for $60,000.
The most recent dispute was filed on November 19, 2018, and alleges that the customer did not consent to electronically sign various annuity and insurance application documents between June 2017 and November 2018. The dispute requested $850,000 in damages but was denied.
Under FINRA Rules, brokerage firms are responsible for their brokers’ activity and may be liable for misconduct. Investors may be able to recover some or all of their investment through FINRA arbitration.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.