Another JP Turner & Centaurus Lawsuit Alleges Firms Failed to Supervise Lexington, South Carolina Advisors

The White Law Group announces the filing of another FINRA Lawsuit against J.P. Turner & Co. & Centaurus Financial. The claim, submitted on behalf of a Virginia couple alleges claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.

The Statement of Claim alleges that financial advisors Ricky Mantei and Cindy Chiellini unsuitably invested these clients in the following high-risk floating rate, callable notes and alternative investments:

J.P. Turner & Company, LLC

ARC Healthcare Trust II

Healthcare Trust Inc.

Philips Edison & Co. Inc.

Global Net Lease Inc. Com

Bluerock Residential Growth DTD 4/13/17

Global Net Lease Inc. Com

Preferred APT CMNTYS INC Redeemable PFD SER A

Preferred APT CMNTYS SER-A Redeemable PRFD STK

JPMorgan Chase BK NA Columbus Callable DTD 3/25/13

JPMorgan Chase BK C/D DTD 12/19/13

INTL Bank Recon & Develop DTD6/30/14

Barclays BK PLC DTD 2/25/11

Valley NATL BK Wayne New Jersey DTD 5/9/14

Bank of Amer Corp Medium Term SR NTS SER L DTD 5/27/11

Goldman Sachs Group Inc. Medium Term DTD 9/21/11

Citibank N A CD CLL DTD 9/30/11

Lloyds TSB BK PLC DTD 1/31/13

Morgan Stanley Group Inc. SR Fixed DTD 1/13/12

Morgan Stanley DTD 3/15/12

Morgan Stanley SR Fix/Flt INT DTD 4/30/12

5G Structured Products ING DTD 11/30/12

Goldman Sachs Group Inc CLL DTD 2/11/13

Societe Generale DTD 3/28/13

Citibank N A DTD 5/30/13

Societe Generale DTD 6/28/13

East West BK Pasadena Calif DTD 10/4/13

Centaurus Financial, Inc.

Bank Amer NA Charlotte NC CTF

Citibank N A Protected MKT LKD DTD 10/22/10

Citibank N A Protected MKT LKD DTD 5/30/13

East West BK Pasadena Calif CTF

Citibank N A Protected MKT LKD DTD 3/12/14

Citibank N A Protected MKT LKD DTD 3/28/14

Valley NATL BK Wayne New Jersey CTF

Bridgeview ILL GO Stadium BDS DTD 9/29/05

Goldman Sachs Group Inc. Callable SER DTD 2/11/13

Barclay Banks PLC DTD 02/25/11

Bank Amer Corp Medium Term SR NTS DTD 05/27/11

SG Structured PRODS Inc. GTD Callable DTD 11/30/12

Morgan Stanley Medium Term SR NTS DTE 07/30/12

Lloyds Bank PLC LKD to CMS RT USD 30Y DTD 1/31/13

Societe Generale Callable CMS Spread DTD 3/28/13

Societe Generale SA ISIN DTD 6/28/13

International BK For Recon & DEV Medium Term BK Callable DTD 6/30/14

Citigroup Inc Medium Term SR NTS Callable DTD 7/31/14

Seagate HDD Cayman DTD 12/2/14

Morgan Stanley FIN LLC Global GTD DTD 9/30/16

Morgan Stanley FIN LLC Global GTD DTD 11/29/16

Viacom Inc. New SR DEB DTD 2/28/12

Viacom Inc. New RS FXD R1 DTE 9/15/13

Citibank NA PRIN Protected MKT LKD DTD 5/30/13

East West BK Pasadena Calif DTD 10/4/13

JPMorgan Chase BK NA Columbus Ohio DTD 11/26/14

Abilene TEX ARPT CTFS DTD 8/1/07

Illinois ST GO BDS 2013 A DTD 4/10/13

Barclay Bank PLC ISIN DTD 9/29/11

Jefferies Group LLC/ Jefferies Group CAP FIN DTD 4/28/17

Bank of Nova Scotia LKD TO CMS RT USD DTD 7/30/13

Morgan Stanley Medium Term SR NTS DTD 10/31/13

Seagate HHD Cayman DTD 12/2/14

Morgan Stanley FIN LLC Global GTD Medium Term DTD 3/30/17

Atlantic Marine Corps CMNTYS LLC DTD 8/11/05

Public Storage SER E PFD STK

Schwab Charles Corp. New DEP CALL 6/1/21

Wells Fargo & Co new DEP SH REP SER X

Wells Fargo & Co New DEP SHS SER V

JPMorgan Chase BK NA Ohio CTF DTD 3/25/13

Citibank N A PRIN Protected MKT LKD CTF DTD 10/22/10

JPMorgan Chase BK NA Columbus Ohio CTF DTD 7/21/14

Morgan Stanley FIN LLC Global GTO Medium, Term NT DTD 9/30/16

EBAY Inc NT 4.00% Callable DTE 1/15/13

The FINRA claim seeks damages between $100,000 and $500,000.

It is alleged that both Centaurus Financial and J.P. Turner & Co. LLC failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors. Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.

According to the Financial Industry Regulatory Authority, Cindy Chiellini currently has more than thirty (30) customer disputes on her broker record for similar allegations, many of which were filed recently.  The claim alleges that Ricky Mantei has been the subject of 25+ customer complaints.

According to D. Daxton White, managing partner of The White Law Group, “It is unfortunate, but we believe that many more investors have suffered devastating losses due to the broker-dealer’s failure to supervise and don’t realize they have recovery options.”

“Brokerage firms are required to supervise their advisors to ensure that they are complying with FINRA rules. If it can be determined that Cindy Chiellini and Ricky Mantei violated FINRA rules and their employers failed to adequately supervise them, these firms can be held responsible for any resulting losses in a FINRA arbitration claim.”

FINRA Dispute Resolution

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.

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

For more information The White Law Group and the lawsuit filed against Centaurus Financial and J.P. Turner & Co. LLC, please contact the firm at 1-888-637-5510 or visit https://www.whitesecuritieslaw.com.