James Geake, Broker with Madison Avenue Securities, Subject of Multiple Settled Customer Disputes Alleging Misconduct

Geake has been the subject of four customer disputes since 2018.

The Sonn Law Group is investigating allegations that James Geake committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

James Geake (CRD#: 2629008) (“Jim Geake”) is registered as a broker with Madison Avenue Securities where he has been employed since 2006. Geake is also registered as an investment adviser with Madison Avenue Securities.

Geake has eight disclosures on his customer disputes on his BrokerCheck report, one of which was closed with no action taken and one of which was denied.

July 2019 Customer Dispute

• Status: Settled
• Allegations: Unsuitable investments, breach of fiduciary duty, negligence and misrepresentation in the sale of alternative investments.
• Damage Amount Requested: $100,000.00
• Settlement Amount: $17,500.00
• Broker Comment: Firm settled with customer to save on the cost of litigation.

April 2019 Customer Dispute

• Status: Settled
• Allegations: Client was unhappy with the performance of alternative investments. Firm offered $10,000 to settle complaint, which was declined. Client filed arbitration and Firm offered $12,500 to settle, which was accepted. Settlement agreement has been executed and matter is being closed.
• Damage Amount Requested: $49,592.10
• Settlement Amount: $12,500.00

September 2018 Customer Dispute

• Status: Settled
• Allegations: On 9/7/2018 client filed a complaint against broker dealer for the sale of an alleged unsuitable investment.
• Damage Amount Requested: $50,000.00
• Settlement Amount: $14,900.00

April 2018 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges issues pertaining to suitability misrepresentations related to alternative investment and FIA contracts. RR is not named a respondent in this matter.
• Settlement Amount: $155,000.00
• Broker Comment: The firm maintains that this claim is without merit, as the client did not suffer any net losses over a ten year relationship. However, the matter was settled in order to avoid further legal costs.

November 2015 Customer Dispute

• Status: Settled
• Allegations: Claimant alleges that representative made unsuitable investment recommendations and therefore asserts additional claims of failure to supervise, negligence, and breach of contract. Claimant alleges that during 2007 representative recommended the liquidation of annuity contracts to purchase three alternative investment products which were purchased during the period 2007 through 2009. Claimant alleges losses due to surrender charges incurred and poor performance of the securities purchased.
• Damage Amount Requested: $419,000.00
• Settlement Amount: $60,000.00
• Broker Comment: The Firm maintains the allegations were without merit and the representative acted reasonably and responsibly. The claims and liabilities were denied. However, to resolve the matter parties agreed to a settlement to avoid further the cost of litigation.

March 2004 Customer Dispute

• Status: Settled
• Allegations: Customer alleges RR churned his 401K investments of approximately $89,500.00 from Dean Witter brokerage account to Pioneer Mutual Funds in 1996, MFS Funds in 2000, and Pioneer Vision variable annuity in November 2000; also alleges he didn’t receive mutual fund breakpoints, and the VA investments are unsuitable for his age.
• Damage Amount Requested: $12,000.00
• Settlement Amount: $8,655.00

Contact Us Today

The Sonn Law Group is currently investigating allegations that James Geake committed misconduct. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.