David Richard Geake of Northbrook, Illinois, a stockbroker associated with Madison Avenue Securities, LLC, is the subject of a customer initiated investment related written complaint on August 9, 2017, in which the customer requested $200,000.00 in damages based upon allegations that Geake effected fixed indexed annuities, equipment leasing products, business development companies and real estate securities for the customer that were not suitable in consideration of liquidity, concentration of the customer’s assets, and tolerance for risk.
Financial Industry Regulatory Authority (FINRA) Public Disclosure confirms that Geake has been identified in three customer initiated investment related disputes containing accusations of Geake’s misconduct during the time he was registered with Madison Avenue Securities and American General Securities, Inc. Particularly, a customer initiated investment related arbitration claim pertaining to Geake’s conduct was settled for $140,000.00 in damages supported by allegations that Geake over-concentrated the customer’s assets in a real estate investment trust, executed transactions in the customer’s account which were not suitable, and made misrepresentations to the customer. FINRA Arbitration No. 11-01016 (May 10, 2012).
Thereafter, on September 17, 2012, a customer filed an investment related written complaint involving Geake’s conduct, where the customer sought $40,000.00 in damages founded on accusations of suitability concerning direct investment products. Subsequently, on June 12, 2017, a customer filed an investment related written complaint regarding Geake’s activities, in which the customer requested $41,000.00 in damages based upon allegations of breach of fiduciary duty, misrepresentation, suitability and fraud in regard to the customer’s transactions pertaining to a business development company, real estate security and fixed annuity.
Geake’s registration with Madison Avenue Securities, LLC was terminated as of May 18, 2015. Since February 29, 2016, he has been associated with Ausdal Financial Partners, Inc.
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