Former Centaurus Financial, Inc. broker John Starke Sr. (CRD# 3154774) faces numerous customer complaints related to unsuitable and illiquid investments. He was registered with:
- Centaurus Financial, Inc. in Mechanicsville, Virginia, from 2015 to 2024
- Financial West Group (expelled in 2020) in Williamsburg, Virginia from 2014 to 2015
- Cabot Lodge Securities LLC in Williamsburg, Virginia from 2013 to 2014
John Starke Sr. Customer Complaints
He has been the subject of 14 customer complaints between 2001 and 2023, according to his CRD report. The most recent complaints are regarding:
December 2023. “The customers allege that during the time period of 2022 through the present the Registered Representative concentrated virtually all of the Claimants’ accounts in nothing but highly speculative, illiquid private alternative securities.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
October 2023. “The customer alleges that during the period of July 2016 through January 2017, the Registered Representative recommended unsuitable, high-risk, speculative and illiquid investments and breached his fiduciary duty.” The customer is seeking $400,000 in damages, and the case is currently pending. The complaint was regarding real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
June 2023. “During 2015 through 2017, the customers allege that the Registered Representative recommended unsuitable and illiquid investments that performed poorly.” The customer is seeking $75,000 in damages, and the case is currently pending. The complaint was regarding direct investments and real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
June 2023. “The customers alleges that the Registered Representative recommended unsuitable, high risk and illiquid investments. No specific dates for the alleged activity were identified in the Statement of Claim.” The customer is seeking $500,000 in damages, and the case is currently pending. The complaint was regarding corporate debt and real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
May 2023. “In January 2016, the customer alleges that the Registered Representative recommended speculative, high risk and illiquid investments.” The customer is seeking $250,000 in damages, and the case is currently pending. The complaint was regarding real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
March 2023. “Starting in 2015-2016 through March 2023, the customers allege that the Registered Representative recommended unsuitable, illiquid and high-risk, investments.” The customer is seeking $150,000 in damages, and the case is currently pending. The complaint was regarding corporate debt and real estate securities losses, and it took place while he was registered with Centaurus Financial, Inc.
October 2022. “In November 2020, the customers allege that the Registered Representative recommended an unsuitable and illiquid investment.” The customer is seeking $50,000 in damages, and the case is currently pending. The complaint was regarding corporate debt losses, and it took place while he was registered with Centaurus Financial, Inc.
September 2022. “In or about August 2020, the customer alleges that the Registered Representative surrendered a life insurance policy triggering a tax liability.” The customer is seeking $144,283 in damages, and the case is currently pending.
July 2022. “The customers allege that the Registered Representative improperly recommended high-risk, high commission and illiquid investments. No dates of alleged activity were disclosed in the Statement of Claim.” The customer sought $320,000 in damages, and the case was settled for $50,699.85. The complaint was regarding real estate securities and corporate debt losses, and it took place while he was registered with Centaurus Financial, Inc.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Centaurus Financial, Inc. may be liable for investment or other losses suffered by John Starke Sr.’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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