Were you the victim of former Centaurus Financial, Inc. broker Mark Upchurch (CRD# 2937074)? He was registered with Centaurus Financial, Inc. in Houston, Texas, from 2012 to 2020.
Previously, he was registered with Brookstone Securities, Inc. in Houston, Texas, from 2007 to 2012, and with Southwest Securities, Inc. in Houston, Texas, from May to August 2006, when he was terminated regarding, “failed to comply with the firm’s policies and procedures in that he failed to immediately notify the firm that he was the subject of an investigation by a regulator. as a result, violated nyse rule 345.12 and NASD by-law article v, section 2(c).”
In October 2006, NASD suspended him for six weeks and sanctioned him to a civil and administrative penalty and fine related to allegations the signed a public customer’s name to an account transfer form without a customer’s permission.
Mark Upchurch Customer Complaints
He has been the subject of nine customer complaints between 2004 and 2023, according to his CRD report. The most recent complaints are regarding:
November 2023. “The customer alleges that in 2019, the Registered Representative recommended an unsuitable, high-risk, speculative, illiquid investment and breached his fiduciary duty.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
July 2022. “The customers allege that the Registered Representative recommended an unsuitable and illiquid investment. No dates for the alleged activity were identified in the Statement of Claim.” The customer sought $500,000 in damages, and the case was settled for $125,000. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
July 2022. “The customer alleges that the Registered Representative recommended an unsuitable, speculative and illiquid investment. No dates for the alleged activity were identified in the Statement of Claim.” The customer sought $100,000 in damages, and the case was settled for $25,000. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
July 2022. “In 2019, the customer alleges that the Registered Representative recommended a risky and illiquid investment.” The customer sought $50,000 in damages, and the case was settled for $15,000. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
April 2022. “The customer alleges that the Registered Representative misrepresented and recommended illiquid, unsuitable investments. No dates for the alleged activity were disclosed in the Statement of Claim.” The customer sought $50,000 in damages, and the case was settled for $35,000. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
January 2021. “During the period of approximately 2012 through 2018, the customer alleges that the financial advisor misrepresented unsuitable investments and the associated commissions and fees.” The customer sought $500,000 in damages, and the case was settled for $47,500. The complaint was regarding real estate securities, and it took place while he was registered with Centaurus Financial, Inc.
April 2018. “Claimant alleges unsuitable investment recommendations and misrepresentation in connection with the sale of various securities.” The customer sought $5,000 in damages, and the case was settled for $17,500. The complaint was regarding real estate securities, 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 Mark Upchurch’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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