There are options for customers of former Nylife Securities LLC broker George Shadie (CRD# 2513286) regarding investment losses. Shadie was registered with Nylife Securities LLC in Wilkes Barre, Pennsylvania from 1995 to 2019, when he was terminated regarding, “Mr. Shadie was terminated after the company’s review of his business practices raised a number of concerns regarding the quality of his business.”
Shadie has been the subject of four customer complaints between 2002 and 2018, one of which was denied, according to his CRD report. Recent complaints are regarding:
November 2018. “Customer alleges that she did not consent to electronically sign various annuity and insurance application documents. Dates: 06/2017-11/2018.” The customer is seeking $850,000 in damages and the case is currently pending.
October 2018. “Customer’s attorney alleges that transactions in January and May 2018 in two Variable Annuities at another firm were initiated without her authorization. Customer demands rescission of all products purchased and compensation in the amount of $100,000.00.” The customer sought $100,000 and the case was settled for $60,000. The case was regarding fixed and variable annuities.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Nylife Securities LLC may be liable for investment or other losses suffered by Shadie’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.