Robert Blake Allegedly Sold Unsuitable Real Estate Investment

Robert Blake (CRD# 22955[1]), formerly a broker registered with Cambridge Investment Research, recommended unsuitable investments, according to investor disputes. MDF Law is investigating the former Greenwood Village-based financial professional for similar conduct. We encourage investors to reach out for a free consultation if they have any complaints.

To learn more about the allegations against Mr. Blake, continue reading below. The information in this post can be found in his BrokerCheck profile, a Financial Industry Regulatory Authority (FINRA) record accessed on January 10, 2024.

Pending Dispute Seeks $500,000

On October 31, 2023, an investor lodged a dispute alleging that Mr. Blake recommended an unsuitable real estate investment and misrepresented the product. The dispute, which remains pending, seeks $500,000 in damages.

Firms Settled Past Disputes

The above-described pending dispute is not the only one in Mr. Blake’s past. His former member firms have settled four disputes involving him, according to his BrokerCheck profile. Filed between 2010 and 2020, the disputes included allegations of unsuitable recommendations, fraud, breach of fiduciary duty, negligence, misrepresentation, and breach of contract. His former firms settled the claims for a total of more than $139,000.

Robert Blake Churned Investments, Dispute Alleged

Mr. Blake’s BrokerCheck profile also describes two disputes that resolved with awards to the claimant/s. Filed in 1995 and 1996, they detailed allegations of misrepresentation, omission of material information, breach of fiduciary duty, failure to supervise, unauthorized trading, unsuitable recommendations, and churning. In each claim, a panel of arbitrators ordered the payment of an award to the claimant/s. The awards totaled more than $96,900.

Understanding FINRA’s Investor Protections

The investor disputes involving Mr. Blake describe alleged violations of various FINRA rules. Under FINRA Rule 2111, for example, brokers must recommend investments tailored to a customer’s background and objectives; these are referred to as suitable investments. Several FINRA rules, meanwhile, prohibit unauthorized trading: 

• Rule 2010, which mandates that brokers observe uphold high standards of commercial honor; 
• Rule 3260, which prohibits them from making discretionary trades without a customer’s authorization and their firm’s approval; 
• Rule 2020, which proscribes the use of fraudulent or deceptive devices to conduct securities trades. 

This latter rule also prohibits brokers from misrepresenting material information regarding the investments they recommend, such as a product’s risk level or liquidity. 

FINRA: Blake Last Based in Greenwood Village, Colorado

Robert Blake embarked upon his career as a broker in 1973, when he registered with Dupont Walston. Over the subsequent decades, he worked at firms including Merrill Lynch, First Affiliated Securities, and Presidential Brokerage. He joined his most recent member firm, Cambridge Investment Research, in 2012, working at its Greenwood Village office until 2018. Since departing the firm, he has remained unregistered as a broker. 

MDF Law Offers Free Consultations

MDF Law[2] has recovered more than $100 million in lost funds for the victims of broker fraud. If you have complaints about investments or strategies recommended by Robert Blake, call our dedicated investor advocates to discuss your case. We currently offer free consultations across the US, and we take cases on a contingency basis: clients only pay a fee if they recover losses. You may have a limited window to file a claim, so we urge you not to delay. Call 800-767-8040 today.