Advisor Alert: Our Attorneys Are Investigating James Andrew Geake For Investment Fraud
Did You Lose Money Because of Jim Geake?
Filed: January 30, 2024
James Geake (also known as Jim Geake) currently has two (2) pending customer complaints. Overall, he has been the subject of fifteen (15) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on James Andrew Geake.
Who Is James Andrew Geake of Madison Avenue Securities, LLC?
- Advisor Name: James Andrew Geake
- Aliases: Jim Geake
- CRD: 2629008
- Location: Skokie, Illinois
- Current Employer: Madison Avenue Securities, LLC
- Previous Firms: Madison Avenue Advisors, Inc., American General Securities Incorporated, and Franklin Financial Services Corporation
- Number of Known Customer Complaints: 15
- Can James Geake Be Sued: Yes, in Private Arbitration
- Can James Geake’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $750,000
- Highest Settlement: $450,000
If you have suffered investment losses by James Geake, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Jim Geake For Broker Misconduct
As of this publication date, James Geake has been the subject of 15 customer disputes. Let’s review them below.
In December 2023, a FINRA arbitration was filed against or in reference to James Geake by multiple customers of Madison Avenue Securities, LLC alleging unsuitable recommendations of alternative investments starting in 2015. Per the customer, he/she lost over $100,000 because of Mr. Geake’s actions. As of this publication date, this claim remains pending.
In January 2023, a FINRA arbitration was filed against or in reference to James Geake by multiple customers of Madison Avenue Securities, LLC alleging unsuitable recommendations of alternative investments, primarily in NorthStar Healthcare REIT. As of this publication date, this claim remains pending.
In January 2023, a FINRA arbitration was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging unsuitable recommendations of alternative investments. Per the customer, he/she lost over $60,000 because of Mr. Geake’s actions. On August 3, 2023, Mr. Geake settled the claim for $31,000, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In July 2021, a FINRA arbitration was filed against or in reference to James Geake by multiple customers of Madison Avenue Securities, LLC alleging unsuitable recommendations of multiple alternative investments, including Hospitality Investors Trust starting in 2013. Per the customers, they lost over $750,000 because of Mr. Geake’s actions. On November 29, 2021, Mr. Geake settled the claim for $450,000, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In November 2020, a complaint was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging unsuitable recommendation of BDCA. Per the customer, he/she lost over $34,000 because of Mr. Geake’s actions. On December 9, 2020, Mr. Geake settled the claim for $20,000, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In November 2020, a complaint was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging unsuitable illiquid investment recommendations.
In July 2019, a FINRA arbitration was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging unsuitable investments, breach of fiduciary duty, negligence, and misrepresentation in the sale of alternative investments. Per the customer, he/she lost over $100,000 because of Mr. Geake’s actions. On July 2, 2019, Mr. Geake settled the claim for $17,500, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In April 2019, a FINRA arbitration was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging that the client was unhappy with the performance of alternative investments. Per the customer, he/she lost over $49,592.10 because of Mr. Geake’s actions. On April 25, 2019, Mr. Geake settled the claim for $12,500, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In January 2019, a complaint was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging unsuitable illiquid investment recommendations.
In September 2018, a complaint was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging sale of an alleged unsuitable investment. Per the customer, he/she lost over $50,000 because of Mr. Geake’s actions. On October 8, 2018, Mr. Geake settled the claim for $14,900, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In April 2018, a FINRA arbitration was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging issues pertaining to suitability misrepresentations related to alternative investment and FIA contracts. On June 7, 2019, Mr. Geake settled the claim for $155,000, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In February 2017, a complaint was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging that the client was sold equity indexed annuities that ‘gave the broker a bonus for signing clients’ and that it was a ‘bait and switch’ scheme. The client further claimed his attempts for contact/resolution were unsuccessful by phone and certified letter, which are in dispute. Per the customer, he/she lost over $347,083 because of Mr. Geake’s actions.
In November 2015, a FINRA arbitration was filed against or in reference to James Geake by a customer of Madison Avenue Securities, LLC alleging that Mr. Geake made unsuitable investment recommendations. The client asserts additional claims of failure to supervise, negligence, and breach of contract. Per the customer, he/she lost over $419,000 because of Mr. Geake’s actions. On March 1, 2017, Mr. Geake settled the claim for $60,000, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
In September 2012, a complaint was filed against or in reference to James Geake by a customer of American General Securities Incorporated alleging that the REIT the client’s mother purchased was unsuitable. Per the customer, he/she lost over $ 40,000 because of Mr. Geake’s actions.
In March 2004, a complaint was filed against or in reference to James Geake by a customer of American General Securities Incorporated alleging that Mr. Geake churned the client’s 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. The client also alleges he didn’t receive mutual fund breakpoints, and the VA investments are unsuitable for his age. Per the customer, he lost over $12,000 because of Mr. Geake’s actions. On July 26, 2004, Mr. Geake settled the claim for $8,655, and some or all of this amount may have been paid by Mr. Geake’s employer and/or insurance carrier.
How To File A Claim Against Jim Geake of Madison Avenue Securities, LLC (previously with Madison Avenue Advisors, Inc., American General Securities Incorporated, and Franklin Financial Services Corporation) To Get Your Money Back
If you have questions about James Geake, Madison Avenue Securities, LLC, Madison Avenue Advisors, Inc., American General Securities Incorporated, Franklin Financial Services Corporation, or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.