Centaurus Financial, Inc. broker William Burks II (CRD# 2944992) faces customer complaints related to unsuitable investment recommendations. He has been registered with Centaurus Financial, Inc. in Flower Mound, Texas, since 2000.
William Burks II Customer Complaints
He has been the subject of 14 customer complaints between 2010 and 2023, three of which were denied, and one was closed without action, according to his CRD report. The most recent complaints are regarding:
May 2023. “The customer alleges that the Registered Representative recommended unsuitable, risky low-value investments. No dates for the alleged activity was identified in the Statement of Claim.” The case is currently pending. The complaint was related to equity OTC and penny stock losses.
January 2023. “During the period 2009 through 2013, the customer alleges that the Registered Representative was negligent and made unsuitable investment recommendations.” The customer is seeking $57,653 in damages, and the case is currently pending. The complaint was related to real estate security investment losses.
October 2022. “The customers allege that the Registered Representative recommended unsuitable, high-risk and illiquid investments. No dates for the alleged activity were disclosed in the Statement of Claim.” The case is currently pending. The complaint was related to real estate security investment losses.
July 2021. “The customer alleges that the Registered Representative recommended illiquid investments and breached his fiduciary duty. No dates are provided within the Statement of Claim.” The customer sought $99,000 in damages, and the case was settled for $20,000. The complaint was related to real estate security investment losses.
June 2021. “The customer alleges that the Registered Representative over concentrated the customer’s account(s) in unsuitable investments. No dates are provided within the Statement of Claim.” The customer sought $650,000 in damages, and the case was settled for $249,000. The complaint was related to real estate security investments.
February 2021. “During the period March 2016 to November 2020, the customer alleges that the Registered Representative misrepresented investments and that the investments have not performed as anticipated.” The case was settled for $49,999. The complaint was related to real estate security investment losses.
February 2021. “During the period 2016 through 2021, the customer alleges that the Registered Representative recommended unsuitable and high-risk investments.” The case was settled for $115,000. The complaint was related to real estate security investments.
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 William Burks II’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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