Centaurus Financial Lawsuits: Broker Misconduct & Customer Complaints

Centaurus Financial, LLC: Regulatory Actions, Customer Complaints, and Investor Lawsuits

The White Law Group reviews regulatory actions, customer complaints, and investor lawsuits involving Centaurus Financial, LLC, a national broker-dealer headquartered in Anaheim, California (CRD# 30833). According to public records, Centaurus Financial has 26 disclosure events, including 18 regulatory actions and 8 customer arbitrations. These matters raise concerns about supervision, conflicts of interest, and unsuitable investment recommendations, particularly involving alternative and private investments.

Overview of Regulatory History

Regulatory actions against broker-dealers can include censures, fines, suspensions, restitution, and heightened supervision. Enforcement actions by FINRA and the U.S. Securities and Exchange Commission can significantly impact a firm’s reputation and may expose firms to investor claims for losses caused by misconduct or inadequate supervision.

Notable Broker Misconduct and Customer Complaints

Private Securities Transactions – California Broker Suspension (2025)

In January 2025, a Centaurus broker in Apple Valley, California was suspended for two years for participating in undisclosed private securities transactions. Between 2017 and 2022, the broker allegedly sold more than $4.4 millionin stock of a cannabis-related company he co-founded to over 100 investors, without firm approval—violating FINRA Rules 3280 and 2010.

Donnie Ingram: Excessive and Unnecessary Commissions (2023)

In May 2023, former Centaurus advisor Donnie Ingram was suspended for six months, fined, and ordered to pay nearly $389,000 in restitution. FINRA found that he knowingly recommended higher-cost UITs and alternative investmentswhen lower-cost options were available, benefiting himself at the expense of clients. Centaurus was also sanctioned for failure to reasonably supervise, fined $50,000, and held jointly liable for restitution.

Bryon Martinsen: Unauthorized Transactions and Payments

In August 2022, FINRA suspended broker Bryon Martinsen for 15 months after finding he engaged in approximately $1.1 million in undisclosed private securities transactions and made $400,000 in unauthorized customer payments. His disciplinary history includes numerous customer complaints alleging unsuitable investments and over-concentration.

Real Estate Ponzi Scheme – Tony Kassaei

In September 2020, FINRA barred Centaurus advisor Tony Kassaei for undisclosed private securities transactions tied to a real estate Ponzi scheme that caused approximately $12 million in investor losses. Investors associated with Kassaei allegedly lost at least $1.3 million.

Larry J. Templin – Industry Bar

In October 2018, former Centaurus advisor Larry J. Templin was barred from the securities industry following alleged bank fraud. He was terminated by Centaurus in 2018 after more than a decade with the firm.

Firm-Level Regulatory Sanctions

• August 2016: Centaurus was fined $100,000 and ordered to pay $85,281 in restitution for failing to apply eligible UIT sales charge discounts due to inadequate supervisory systems.

• April 2009: FINRA fined Centaurus $175,000 for failing to safeguard confidential customer information following data security failures and a related phishing incident.

Centaurus Financial Lawsuits and FINRA Arbitration Claims

The White Law Group has represented investors in claims against Centaurus Financial. In February 2024, the firm filed a FINRA arbitration on behalf of a Texas family alleging unsuitable investments in complex, illiquid alternative products, along with claims for negligence, breach of fiduciary duty, and failure to supervise.

Class Actions vs. FINRA Arbitration

For investors with significant losses (often $100,000 or more), an individual FINRA arbitration is frequently a more effective recovery option than a class action. Class actions are typically better suited for large groups of investors with relatively small claims.

Help for Centaurus Financial Investors

Brokerage firms have a duty to reasonably supervise their advisors and prevent misconduct such as unsuitable recommendations, undisclosed outside business activities, and excessive commissions. Firms that fail to do so may be held liable for investor losses through FINRA arbitration.

The White Law Group is a national securities fraud and investor protection law firm with offices in Chicago, Illinois and Seattle, Washington.

? Free Consultation: If you have concerns about investments with Centaurus Financial, call 888-637-5510 to speak with a securities attorney.

Frequently Asked Questions (FAQ)

What types of complaints have been filed against Centaurus Financial?

Customer complaints involving Centaurus Financial often allege unsuitable investment recommendations, excessive commissions, undisclosed private securities transactions, and inadequate supervision, particularly related to alternative and non-traded investments.

Can investors recover losses from Centaurus Financial?

Yes. Investors may be able to recover losses through FINRA arbitration if Centaurus Financial failed to supervise its advisors or allowed unsuitable or conflicted recommendations.

How long do I have to file a FINRA arbitration claim?

FINRA generally applies a six-year eligibility rule from the occurrence of the events giving rise to the claim, though other statutes of limitation may apply. Speaking with a securities attorney promptly is recommended.