According to a Financial Industry Regulatory Authority (FINRA) Dispute Resolution Award, Centaurus Financial was forced to pay over $150,000 to some of its clients. The claimants in the case asserted the following causes of action for suing Centaurus: suitability, fraudulent or negligent material misrepresentations and omission of material information, violation of FINRA Rules, violation of the New Mexico Unfair Practices Act; violation of Section 11 of the Securities Act of 1933 and failure to supervise.
Allegedly, the Centaurus client was a widow in her mid-sixties. After the death of her husband, the client was introduced to a Centaurus broker, Seyed Ahmad Hashemian. The client invested approximately $2.2 million with Hashemian. The client’s overall investment strategy was to avoid risk and have her funds managed for her income, retirement needs and her grandchildren. The investments that Hashemian made for the client were unsuitable and did not meet her investment objectives. Centaurus was found to be liable for Hashemian’s actions because the firm failed to supervise him in a proper and reasonable manner both during and subsequent to the period he was under heightened supervision with Centaurus.
If you invested money with Centaurus Financial, you may be able to recover your losses by calling our securities law firm in Chicago at 312-332-4200 to speak to an attorney. The call is free and there is no obligation. We take cases on a contingency fee basis so we only get paid if you recover money. We sue firms such as Centaurus in the FINRA arbitration forum.
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