DENVER, CO, USA, September 22, 2023 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes encourages customers of Madison Avenue Securities and Ausdal Financial Partners, Inc. who suffered investment losses with David Geake to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-02531) against Madison Avenue Securities and Ausdal Financial Partners on the behalf of an elderly customer seeking to recover less than $500,000 due to unsuitable alternative investment recommendations by their financial advisor David Richard Geake (CRD# 3088891).
The customer and her late husband sought safe investments that would help support them through their retirement years. Instead, David Geake, through Madison Avenue Securities and Ausdal Financial Partners, invested the couple’s portfolio in high risk, alternative investments and engaged in “selling away” by selling MarketServ, an unapproved security, away from his firms without first obtaining approval.
According to FINRA BrokerCheck, David Geake has 29 public disclosures, 27 of which are customer complaints. Geake’s customers have alleged a collective total of over $7 million in damages due to his alleged misconduct, including unsuitable, unauthorized, and misrepresented investment recommendations in the following Alternative Investments:
– MrktServ, Inc.,
– mCloud technologies,
– GWG L Bonds,
– American Equity IncomeShield10,
– Cottonwood Communities Class A, and
– Hospitality Investors Trust.
David Geake allegedly engaged in the unapproved sale of MarketServ, and was permanently barred by FINRA from acting as a stockbroker due to allegations that he solicited two elderly investors to pledge securities as collateral to guarantee a $2.5 million loan for a startup company.
Customers of David Richard Geake who suffered investment losses are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com