KAREN YVONNE GEIGER formerly with Cape Securities

Soreide Law Group has been contacted by clients of KAREN YVONNE GEIGER (KAREN YVONNE BOWMAN, KAREN YVONNE TANASKA), who were sold GWG L Bonds and incurred significant losses.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, KAREN YVONNE GEIGER, has been in the securities industry for 35 years and was listed with 14 firms. Geiger was previously registered both as a broker and as an investment advisor. She is currently not registered with any firm.  The last firm she was registered with was CAPE SECURITIES, INC of McDonough, Georgia, from 06/23/2017 - 06/08/2023.

There are 5 Disclosures on KAREN YVONNE GEIGER’s FINRA CRD report.  There is an “Employment Separation after Allegations,” from C2P CAPITAL ADVISORY GROUP DBA PROSPERITY CAPITAL ADVISORS in July of 2013, when Geiger voluntarily resigned. In August of 2013, Geiger had a “Regulatory” listed with a statement from FINRA, “WITHOUT ADMITTING OR DENYING THE FINDINGS, GEIGER CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE SHE IS FINED $15,000, WHICH INCLUDES DISGORGEMENT OF COMMISSIONS RECEIVED OF $2,000, AND SUSPENDED FROM ASSOCIATION WITH ANY FINRA MEMBER IN ANY CAPACITY FOR 30 BUSINESS DAYS. THE SUSPENSION IS IN EFFECT SEPTEMBER 3, 2013 THROUGH OCTOBER 14, 2013.”  In the “Broker Statement” listed with this disclosure, KAREN YVONNE GEIGER said in part, “FINRA CONDUCTED A NON-PUBLIC INVESTIGATION OF GWG HOLDINGS, INC BOND DEBENTURE PRODUCT WHICH BROUGHT ABOUT DEPOSITIONS OF BROKER DEALERS AND INVESTMENT REPRESENTATIVES WHO SOLD THIS INVESTMENT.”

The remaining Disclosures on KAREN YVONNE GEIGER’s FINRA CRD report were 3 “Customer Disputes,” with two pending and one has settled.  They were filed in 2022, 2023 and 2024.  The pending dispute filed in 2022 is requesting $1,070,000.00 in damages following the allegations of, “Misrepresentation of the investment, failure to disclose material facts, failure to perform due diligence, unsuitable nature of the investments, fraudulent concealment, failure to supervise, violations of federal securities laws, violations of Ohio securities laws, Breach of Contract, Common Law Fraud, Breach of Fiduciary Duty, Negligence and Gross Negligence. Time period appears to be July 2015 - July 2017 for this respondent.”  The pending dispute filed in 2023 is requesting $200,000.00 in damages, with the allegations of “The allegations are that the representative made inappropriate recommendations of products that were unsuitable and overly consolidated in light of the age and income of the customer.”

In February of 2024 a dispute was settled against KAREN YVONNE GEIGER for $95,000.00 following the allegations of, “Claimant alleges misrepresentation of the investment, failure to perform due diligence, unsuitable nature of investments, failure to disclose degree of risk including extreme liquidity risk, fraud, negligent supervision, violations of federal securities laws, violations of Ohio securities laws, breach of contract, breach of duty of care, breach of fiduciary duty. The time period of such activities: 7/2015 through 10/2020.”

If you have experienced GWG L Bond losses or would like to discuss any other issues with an attorney at no cost, call Soreide Law Group at:  888-760-6552.

Soreide Law Group represents clients nationwide before FINRA on a contingency fee basis.