Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Investors Accuse GF Investment Services Of Unsuitable REIT Recommendations

Financial newspaper

Andrew Montgomery Costa of Fort Lauderdale Florida a stockbroker formerly registered with GF Investment Services LLC is referenced in a customer initiated investment related complaint on October 21, 2020 in which the customer requested $50,000.00 in damages based upon allegations that unsuitable real estate investment trusts had been sold to them during the time that Costa was associated with GF Investments LLC.

Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Costa has been identified in ten additional customer initiated investment related disputes regarding accusations of his misconduct during the time that he was employed by Madison Avenue Securities and GF investment Services. Costa is the subject of a customer initiated investment related FINRA securities arbitration claim which was resolved for $10,000.00 in damages supported by allegations of negligent real estate security recommendations and of breach of fiduciary duty. FINRA Arbitration No. 18-00798 (Feb. 1, 2019).

On January 29, 2020, another customer initiated investment related FINRA securities arbitration claim concerning Costa’s conduct was settled for $15,000.00 in damages founded on accusations of sales practice violations relating to the sale of unregistered securities while the stockbroker was registered with GF investment Services.

Costa is also referenced in a customer initiated investment related FINRA securities arbitration claim where the customer sought $90,000.00 in damages based upon allegations that they had been inappropriately placed into Woodbridge notes by the stockbroker. FINRA Arbitration No. 20-00566 (May 8, 2020). The claim alleges Madison Avenue Securities’ failure to supervise the stockbroker’s activities.

On December 9, 2020, another customer initiated investment related complaint concerning Costa’s conduct was resolved for $22,500.00 in damages supported by accusations of Costa’s unsuitable investment recommendations to the customer as it related to real estate investment trusts that had been purchased in April of 2018 through Madison Avenue Securities.

Costa is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $100,000.00 in damages founded on allegations of a breach of contract and a breach of fiduciary duty concerning direct participation programs or limited partnerships that had been sold to them at GF Investment Services because of Costa. FINRA Arbitration No. 20-02160 (Sept. 8, 2020). According to the claim, the customer received unsuitable investment recommendations from Costa. The claim also alleges that negligence resulted in damages to the customer.

Costa was registered with GF Investment Services between February 17, 2010 and August 8, 2017. Since August 7, 2017, he has been registered with Madison Avenue Securities.