Category Archives: REITs

Annuities, Capital Financial Services, Failure to Supervise, REITs, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments

William Gordon-Capital Financial Services Broker-Discloses12 Customer Suits-Clearwater, FL

February 2019 – Clearwater, FL

According to publicly available records  William B. Gordon  (CRD# 2127800) ,  a   registered stockbroker currently employed by Capital Financial Services  disclose a prior regulatory event, a pending customer dispute and 12 prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 2009, an Investors Capital Corporation customer filed FINRA case #09-01323 alleging negligence, breach of fiduciary duty and common law fraud in connection with the purchase of certain investments, including REITs.    The customer was awarded damages of  $150,970.

Eleven other Investors Capital Corporation customers filed customer complaints against Gordon with allegations ranging from  unsuitable investments, breach of contract, breach of fiduciary duty, negligence to fraud.   Total settlements paid to the customers was in excess of $1.1 million.

In pending FINRA case 19-0204,  a customer of Capital Financial Services, Inc.,  alleges unsuitability, misrepresentation and omissions and breach of fiduciary duty in connection with REIT and annuity investments. The customer is seeking damages of  $200,000.

Gordon was employed by Investors Capital Corp. from 1998 until November of 2010.   He has been employed with Capital Financial Services, Inc. since 11/2010.

If you have losses in an account handled by William Gordon, contact us for a no charge consultation to learn how you may be entitled to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Centaurus Financial, Failure to Supervise, J.P. Turner & Company, Limited Partnerships, Misrepresentation, REITs, Stockbroker Malpractice, Unsuitable Investments

Cindy Chiellini-Centaurus Financial Broker-Subject of Numerous Customer Suits- Lexington, SC

February 2019 – Lexington, South Carolina

The FINRA records of  Cindy Lucille Porto Chiellini ,  a  stockbroker who is  employed by  Centaurus Financial  discloses 9 pending  and one prior customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In October 2018 a customer of Chiellini’s prior employer was paid $70,000 to resolve allegations that they were sold unsuitable investments from 2010-2016.

The pending customer complaints include:

  • FINRA case 18-4363-a former customer of J.P. Turner & Centaurus seeks damages of $500,000 and alleges Chiellini recommended unsuitable investments from 2014-2018.
  • Case 168-04082 -a former customer of J.P. Turner & Centaurus seeks damages of $336,160 and alleges Chiellini recommended unsuitable investments in real estate securities from 2012-2018.
  • FINRA case 18-3810-a former customer of J.P. Turner & Centaurus seeks damages of $100,000 and alleges Chiellini recommended unsuitable investments in real estate securities.
  • FINRA case 18-1848-a former customer (beneficiaries of a deceased client’s account)  of Summit Brokerage Services seeks damages of $100,000 and alleges Chiellini recommended unsuitable investments .

Chiellini , who is also known as Cindy Porto and Cindy Porto Chiellini, has been employed by Centaurus Financial since 5/2015, and discloses a business affiliation with Mantei & Associates in Lexington, SC.

If you have losses in an account in an account handled by Cindy Porto Chiellini  , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Centaurus Financial, Failure to Supervise, REITs, StockBroker Misconduct, Unsuitable Investments

Bill Burks-Centaurus Broker-Discloses Pending Customer Dispute-Flower Mound, TX

January 2019, Flower Mound, TX

According to publicly available records William “Bill”  Burks II , (CRD# 2944992) , a  stockbroker who is registered with Centaurus Financial,  discloses a pending customer dispute and 6 prior customer disputes .

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In a pending matter, in May 2018 a customer of Centaurus Financial  alleged that  a recommendation made by Burks to invest in a real estate investments was unsuitable and the associated liquidity risks were not fully explained.   The customer seeks damages of $415,000.  

In a prior customer dispute in 2011, a customer of Centaurus Financial alleged that Burks made inappropriate recommendations. To resolve the matter Centaurus cancelled two non publicly traded REIT investments totalling $955,291 and arranged for the reversal of five variable annuity withdrawals of over $1  million. 

Burks has been employed with Centaurus Financial since August 2000.   

If you have losses in an account in an account handled by Bill Burks  contact us for a no charge consultation to learn how you may be able to recover damages from his employer through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Aegis Capital Corp, Limited Partnerships, Misrepresentation, National Securities Corporation, REITs, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Unsuitable Investments, Worden Capital Management

Mark Kolta-Former National Securities Corp Broker-Subject of Customer Suits Involving Real Estate Investments-New York

January 2019-Garden City , New York

According to publicly available records Mark Sam Kolta ,  a   stockbroker who formerly worked for National Securities Corp.  and who  is currently registered with Worden Capital Management, disclose 4 currently pending customer disputes, 9 prior final customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA arbitration 18-3346 a customer of National Securities Corp. alleges that Kolta made misrepresentations. breached his fiduciary duty  and sold them a real estate security. The customer seeks damages of$422,000.

In currently pending FINRA arbitration 18-2394 a customer of National Securities Corp. alleges that Kolta made misrepresentations and sold them an unsuitable real estate security. The customer seeks damages of $120,000.

In another currently pending FINRA arbitration (#18-2017) a customer of National Securities Corp. alleges that Kolta made an unsuitable recommendation to invest in a real estate security and made misrepresentations in connection with the sale. The customer seeks damages of $450,000.

In 2011 Kolta was discharged by a former employer, Chase Investment Services, who makes the following allegation on Kolta’s FINRA record: “Registered rep advised customers of another brokerage firm in the trading of options during his employment with the firm without the firms knowledge or permission.”

Mark Kolta was employed by National Securities Corp. from 9/2013-6/2017. He was with Aegis Capital Corp for a short time from 6/2017-2/2018 and has currently been employed by Worden Capital Management since 4/2018.

If you have questions about an account in an account handled by Mark Kolta , contact us for a no charge consultation to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

REITs, StockBroker Misconduct

How to Recover Losses on American Finance Trust, Inc. (AFIN)

August 2018

If you invested  in American Finance Trust, Inc. (AFIN) in 2013 and paid $25 per share, you may be surprised to know that it is currently trading at under $15.

In a report just issued by investment bank Robert A. Stanger & Co. the listing of this former non-traded REIT has turned into an ugly “belly flop”. In June 2018 the company announced a estimated per share net asset value of $23.56. This represents a loss of about $1 billion of the company’s equity value.

Investors purchasing AFIN five years ago at $25 a share have lost 40% of their investment.

If you have suffered significant losses on an investment in AFIN, call for a no charge consultation to learn about you may be able to recover damages from the broker dealer who recommended the investment.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870