Norma Monica Skeete was named a respondent in a Financial Industry Regulatory Authority (FINRA) claim brought against her for alleged negligent misrepresentations to a customer of her member firm regarding a real estate venture. Skeete did not take steps to understand how the loans would be documented or where the funds were held, and how the customer would be repaid for the investment. She allegedly did not review documents associated with the loan and did not have a basis to believe whether the customer’s funds were safe, nor whether they were guaranteed. Still, Skeete allegedly sent an email to the customer telling him that his loan would be safe and repaid to him. The customer’s funds were neither safe nor repaid to him, and the customer lost approximately $160,000 because of the transaction.
Ms. Skeete was registered with First American National Securities Inc. from August 1983 until February 1984 and PFS Investments Inc. in Camp Springs, Maryland from May 1984 until October 2011. She is no longer licensed to act as a broker or as an investment advisor, according to her FINRA BrokerCheck report. If you invested money with Norma Monica Skeete, her former firm, PFS Investments, may be liable for investment losses. They had a duty to properly supervise her while she was employed with them. Please call our Chicago-based securities law firm at 312-332-4200 to speak to an attorney about your options. The call is free with no obligation.