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Broker David Geake Facing Over $500k in Unsuitable Investment Claims

American Trust Investment Services Broker Accused of Misconduct in Multiple Customer Disputes

David Richard Geake, a registered broker and investment adviser with American Trust Investment Services, Inc., has been accused of misconduct in multiple customer disputes. He faces allegations of fraud, breach of fiduciary duty, negligence, securities law violations, unsuitability, and more. Geake was previously permitted to resign from his position with Ausdal Financial Partners, Inc. after engaging in an unreported private security transaction.

At Meyer Wilson, our trial lawyers investigate securities fraud and broker misconduct. We fight to recover losses on behalf of aggrieved investors nationwide. If you or a loved one invested with broker David Geake or another adviser accused of wrongdoing, contact our office for a free consultation. Call (800) 738-1960 to discuss your rights with an experienced investor claims attorney today. 

Allegations of Misconduct Against David Geake

According to David Geake’s BrokerCheck report, he has 14 public disclosures throughout his 23 years of experience. He is currently employed with American Trust Investment Services as a registered broker and investment adviser but has been associated with several firms throughout his career.

David Geake has been named in several customer disputes that were previously settled for varying amounts from $20,000 to over $500,000. Currently, Geake has two pending complaints against him. The most recent alleges breach of fiduciary duty, violation of state securities laws, violations of federal regulations, fraud, negligence, and misrepresentation. The client has requested damages in the amount of $965,793.

A second pending customer dispute alleges that Geake made unsuitable recommendations for alternative investments resulting in losses of $500,000 to $1,000,000. 

Employment Separation After Allegations

In addition to the multitude of customer disputes, Geake was permitted to resign from his employment with Ausdal Financial Partners, Inc. in 2018 after reportedly “engaging in an unreported private security transaction.” The Financial Industry Regulatory Authority (FINRA) under Rule 3280 prohibits brokers from participating in private securities transactions unless they provide prior written notice to their firm. 

Recovering Losses After Investment Misconduct

Investors who have sustained losses as a result of broker wrongdoing or investment fraud may be entitled to legal action. Depending on the circumstances, a harmed investor may be able to recover losses by pursuing litigation or arbitration. If you have experienced losses after investing with David Geake or another broker accused of regulatory violations, contact our office.
Call (800) 738-1960 for a free, no-obligation consultation. We have helped over 1,000 investors recover losses across the country. Our lawyers have extensive experience handling investor claims and will not rest until you receive the justice you deserve. We have secured more than $350 million for our clients since 1999. Do not wait; call now to get started.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

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