James Andrew Geake (also known as Jim Geake) of Skokie Illinois a stockbroker currently registered with Madison Avenue Securities LLC is the subject of a customer initiated investment related written complaint on November 5, 2020 in which the customer requested compensatory damages founded on accusations that unsuitable investment recommendations had been made by Geake causing the customer to experience damages on direct investment transactions.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Geake has been referenced in ten more customer initiated investment related disputes concerning allegations of his wrongdoing while associated with Madison Avenue Securities. Geake is referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $60,000.00 in damages supported by accusations that the customer sustained poor performance and penalties by purchasing unsuitable real estate securities, oil and gas securities, and annuities through Geake at Madison Avenue Securities. FINRA Arbitration No. 15-02951 (Mar. 1, 2017). The claim alleges failure to supervise and negligence as it related to the customer’s securities transactions. Allegations also include breach of contract and misrepresentation.
Geake is also the subject of a customer initiated investment related written complaint which was settled on October 8, 2018 for $14,900.00 in damages based upon accusations that real estate security transactions were not suitable for the customer of Madison Avenue Securities. On June 7, 2019, another customer initiated investment related FINRA securities arbitration claim concerning Geake’s conduct was resolved for $155,000.00 in damages founded on allegations that misrepresentations had been made by the stockbroker regarding real estate security products and insurance products. FINRA Arbitration No. 2018-01432 (June 7, 2019). The claim alleges that the customer sustained damages on unsuitable fixed index annuities and alternative investments.
On April 25, 2019, a different customer initiated investment related FINRA securities arbitration claim regarding Geake’s activities was settled for $12,500.00 in damages supported by accusations that the customer was placed into alternative investments that had poorly performed. FINRA Arbitration No. 19-00310.
Geake is also referenced in a customer initiated investment related FINRA securities arbitration claim which was settled for $17,500.00 in damages based upon allegations that misrepresentations had been made to the customer and that the stockbroker’s negligence resulted in the customer’s damages. FINRA Arbitration No. 19-01258 (July 2, 2019). The claim alleges that there was a breach of fiduciary duty by the stockbroker concerning direct investments and REITs.
Geake has been a stockbroker of Madison Avenue Securities since November 22, 2006 and an investment adviser representative of Madison Avenue Securities since March 25, 2009.
