Investor Sues Madison Avenue For Inappropriate REIT Recommendations By Jim Geake

Investor Sues Madison Avenue For Inappropriate REIT Recommendations By Jim Geake

James Andrew Geake (also known as Jim Geake) of Schaumburg, Illinois, and Skokie, Illinois currently working for Madison Avenue Securities LLC, as a stockbroker.

Mr. Andrew is referenced to as a part of a customer-initiated investment associated arbitration claim, which was settled for $12,500.00 in damages originated on accusations that the customer went through unwarranted losses on different investments consisting of real estate securities, at the time when Mr. Geake was associated with Madison Avenue Securities. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00310 (Apr. 25, 2019).

According to FINRA Public Disclosure, it can be stated that Mr. Geake has been a part of two customer-initiated investment-related disputes concerning the allegations of Mr. Geake’s wrongdoings in the time period of his association with American General Securities Incorporated and Madison Avenue Securities.

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Specifically, a complaint stating that at the time Mr. Geake was associated with American General, “Geake allegedly whipped the customer’s accounts and intentionally placed the customer in bad investments”, was lodged by the claimant.

On February 14, 2017, another complaint under the same category, investment, was lodged against Geake’s doings. In this specific complaint, the claimant asked for $347,083.00 as a compensation amount for the damages based on the accusations for placing the claimant into equity-indexed annuities that were unsuitable; and that Geake went on to sell these annuities for personal interest.

Subsequently, on March 1, 2017, another settlement worth $60,000.00 was made against a customer initiated investment related arbitration claim, stating that Mr. Geake unseemly advised the claimant to liquidate an annuity in order to buy alternative investments, consisting of real estate security as well as oil and gas product; moreover, the claimant’s investment account had also been mishandled; the claimant’s investment contract being breached; and lastly, Madison Avenue Securities LLC stalled at performing their job directed at supervising Geake’s trading practices, resulting in the claimant’s losses. FINRA Arbitration No. 15-02951 (Mar.1,2017)

ABS REPORT

Another initiated investment related arbitration claim was filed by a claimant, indicating concern regarding Mr. Geake’s conduct where the claimant looked out for unspecified damages originated on allegations, claiming incorrect or deceptive statements had been made to the claimant with regards to a fixed income annuity and real estate security purchased by the claimant. Also, the claimant’s objectives for investing or risk tolerance were not prioritized and was sold investments that were unsuitable for him. FINRA Arbitration No. 2018-01432 (Apr. 27,2018)

Moreover, on October 8, 2018, a settlement for a customer initiated investment concerning Geake’s doings was resolved for $14,900.00 for damages assisted by accusations of placing the claimant into bad real estate investments, intentionally.

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