Tag Archives: Centaurus Financial complaint

Centaurus Financial, Failure to Supervise, J.P. Turner & Company, StockBroker Misconduct, Summit Brokerage Services, Unsuitable Investments

Ricky Mantei-Centaurus Financial Broker-Discloses 3 Pending and 5 Prior Customer Disputes-Lexington, SC

March 2019 – Lexington, SC

The FINRA records of  Ricky Alan Mantei ,  a  stockbroker who is  employed by  Centaurus Financial  discloses 3 pending  and 5 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 10/2018,  a customer of Mantei’s prior employer J.P. Turner  was paid $70,000 to resolve allegations that they were sold unsuitable investments from 2010-2016.

The pending customer complaints include:

  • A  former customer of J.P. Turner & Centaurus seeks damages of $233,238 and alleges Mantei recommended unsuitable investments based on their investment objectives.
  • FINRA case 18-3810-a former customer of J.P. Turner & Centaurus seeks damages of $100,000 and alleges Mantei recommended unsuitable investments .
  • FINRA case 18-01848-a former customer (beneficiaries of a deceased client’s account)  of Summit Brokerage Services seeks damages of $100,000 and alleges Mantei recommended unsuitable investments .

Mantei  has been employed by Centaurus Financial since 5/2015. He was with  J.P. Turner & Company from May 2010 until  2015.  He discloses a business affiliation with Mantei & Associates in Lexington, SC.

If you have losses in an account in an account handled by Ricky Alan Mantei, 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, 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, Misrepresentation, Stockbroker Malpractice, Unsuitable Investments, VSR Financial Services

Larry Breen-Former VSR Financial Broker-Subject of $100K Customer Suit-Lake Mary, FL

February 2019 – Lake Mary, FL

The FINRA records of  Lawrence “Larry”  Aloysius Breen III ,  a  stockbroker who was formerly  employed by  VSR Financial Services  discloses a pending customer dispute.

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 7/2018, a customer of Breen’s former employer, VSR Financial Services, filed FINRA Case 18-2544, alleging  that Breen was negligent , made misrepresentations and omitted material facts in connection with a recommendation to purchase a real estate security. The customer seeks damages of $100,000.

Larry Breen was employed by VSR Financial Services from 9/2006-12/2015. He is currently employed by Centaurus Financial in Lake Mary, FL, and discloses an affiliation with Breen Financial Management in Heathrow, FL.

If you have losses in an account in an account handled by Larry Breen or another broker who was employed by VSR Financial Services , contact us for a no charge consultation to discuss how you may be able to recover damages for those losses.

VSR Financial Services Prior Problems With REITs 

VSR Financial Services was fined $550,000 by the Financial Industry Regulatory Authority (FINRA) in May 2013 in connection with the sale of alternative investments . In their findings, FINRA criticised VSR Financial for recommending high concentration levels of alternative investments in customer accounts and for its lack of supervision over the use of consolidated reports prepared by brokers and provided to customers.

Alternative investments include non publicly traded real estate investment trusts (REITS) , hedge funds, real estate, commodities and derivatives contracts and, managed futures. These investments tend to be complex, illiquid, nontransparent, hard to value and expensive. Many of the alternative investments sold over recent years are not traded on any public market making them difficult to value and even more difficult to liquidate if cash is needed.

 VSR wound down operations at the end of 2016 and transferred most of their brokers and customer accounts to Summit Brokerage Services. See this for more information regarding VSR Financial Services.

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

Centaurus Financial, J.P. Turner & Company, Stockbroker Malpractice, Unsuitable Investments

Atul Makharia-Centaurus Financial Advisor-Subject of $333K Customer Suit-Lexington, South Carolina

JANUARY 2019-Lexington, South Carolina

According to publicly available records Atul Makharia , (CRD# 5070762) ,  a  stockbroker who is currently registered with Centaurus Financial, Inc.  disclose 2 pending 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 November 2018 a customer of  Centaurus Financial made a claim against Centaurus alleging that Makharia recommended unsuitable investments and is seeking $200,000 in damages.

In October 2018 a customer of Centaurus Financial alleged damages of $333,000 claiming that Makharia made unsuitable investment recommendations which resulted in market losses.

Makharia has been employed by Centaurus Financial since 5/2015. Prior to that he was employed by J.P. Turner & Co. 

If you have losses in an account in an account handled by Atul Makharia, contact us for a no charge consultation to learn how you may be able 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