Thomas John Trea, of Newtown Square, Pennsylvania, a stockbroker formerly registered with MSI Financial Services, Inc., has been named in a customer initiated investment related written complaint on August 5, 2015, based upon allegations that Trea induced the customer’s variable annuity purchase based upon Trea’s misrepresentations.
Financial Industry Regulatory Authority (FINRA) Public Disclosure also reveals that on March 3, 2006, a customer initiated investment related arbitration claim involving Trea’s conduct was settled for $75,000.00 in damages based upon allegations that Trea made misrepresentations to the customer concerning a variable life insurance policy purchased by the customer. The customer further alleged that Trea breached his fiduciary and contractual duties to the customer, negligently handled the customer’s investment account, and committed federal and state securities laws violations.
Moreover, on September 16, 2009, a customer filed an investment related written complaint regarding Trea’s activities, based upon allegations that Trea effected a variable annuity purchase that was not suitable for the customer, and misrepresented the annuity’s features.
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