William Burks II Complaints and Centaurus Financial Lawsuit Investigation
The White Law Group is actively investigating customer complaints, FINRA disciplinary actions, and potential investor losses involving William Charles Burks II (also known as Bill Burks II), a broker and investment adviser associated with Centaurus Financial, Inc.
Investors who suffered losses in non-traded REITs, business development companies (BDCs), interval funds, or other illiquid alternative investments may have legal rights to pursue recovery through FINRA arbitration.
This page is intended for investors searching for:
- William Burks II complaints
- William Burks II FINRA sanctions
- William Burks II lawsuit
- Centaurus Financial complaints
- Bill Burks II investor losses
Investment Losses? Contact us now for a free consultation!
Who Is William Burks II (Bill Burks II)?
William Charles Burks II (CRD# 2944992) is a registered broker and investment adviser who has been affiliated with Centaurus Financial, Inc. for more than two decades.
Broker Profile
- Name: William Charles Burks II (Bill Burks II)
- CRD#: 2944992
- Firm: https://www.centaurusfinancial.com Centaurus Financial, Inc.
- Location: Flower Mound, Texas
- Experience: Approximately 28 years
- Registrations: Broker and Investment Adviser
- Disclosure History: Multiple customer disputes and regulatory matters
Burks has been registered with Centaurus Financial since approximately 2000, meaning the firm had supervisory responsibility over his investment recommendations under FINRA rules.
FINRA Sanctions Against William Burks II
In August 2025, FINRA imposed disciplinary sanctions against William Charles Burks II following findings related to unsuitable investment recommendations involving illiquid alternative investments.
FINRA Findings Include:
FINRA alleged that Burks:
- Recommended excessive concentrations in illiquid alternative investments
- Placed customers into non-traded REITs, BDCs, and interval funds
- Recommended investments inconsistent with conservative or income-focused objectives
- Caused customers to be exposed to substantial risk of loss
- Submitted documentation that allegedly misrepresented investor risk tolerance
FINRA Sanctions:
- 4-month suspension from the securities industry
- $10,000 civil fine
- Suspension period: September 15, 2025 – January 14, 2026
These findings are significant for investors evaluating potential William Burks II FINRA sanctions claims or Centaurus Financial failure-to-supervise liability.
William Burks II Complaints and Investor Allegations
William Burks II has been named in multiple customer complaints and FINRA arbitration claims involving allegations of unsuitable investment recommendations and illiquid securities.
Pending Complaints
Alleged Illiquid Investment Recommendations (2025)
- Allegations: Unsuitable and speculative alternative investments
- Claimed damages: $80,000
- Status: Pending arbitration
Breach of Fiduciary Duty Allegations (2024)
- Allegations: Unsuitable investments and excessive risk exposure
- Claimed damages: $200,000
- Status: Pending
Settled and Resolved Customer Disputes
Several investor disputes involving William Burks II have resulted in settlements, including:
February 2024 Settlement
- Allegations: Unsuitable and illiquid investments
- Claimed damages: $1,000,000+
- Settlement: Approximately $287,500
August 2023 Settlement
- Allegations: Alternative investment recommendations (2017–2019)
- Claimed damages: $580,000
- Settlement: Approximately $299,000
May 2023 Settlement
- Allegations: Risky and unsuitable investment recommendations
- Settlement: Approximately $225,000
While settlements do not constitute admissions of wrongdoing, they are often considered in evaluating broker conduct patterns and supervisory failures.
Why Investors Are Filing William Burks II Complaints
Many William Burks II complaints involve alternative investments that may be unsuitable for certain investors.
Common Investment Products at Issue:
- Non-traded REITs
- Business development companies (BDCs)
- Interval funds
- Private placements
- Other illiquid alternative investments
Common Risk Factors:
- Limited liquidity or long holding periods
- High internal fees and commissions
- Complex valuation structures
- Difficulty exiting positions
- Concentration risk in client portfolios
FINRA has repeatedly warned that these investments may not be appropriate for conservative investors, retirees, or those requiring liquidity.
Investment Losses? Contact us now for a free consultation!
Centaurus Financial Supervision Issues
Broker-dealers such as Centaurus Financial, Inc. have a legal duty to supervise registered representatives and ensure compliance with FINRA suitability rules.
Key Supervisory Obligations Include:
- Ensuring investment recommendations are suitable
- Monitoring concentration in alternative investments
- Reviewing customer risk profiles for accuracy
- Detecting red flags in illiquid investment sales
- Enforcing compliance with FINRA Rule 2111 and Rule 3110
When multiple complaints and regulatory sanctions arise, investors often evaluate whether supervisory failures contributed to losses.
Can Investors Recover Losses? (FINRA Arbitration Claims)
Investors who suffered losses due to William Burks II complaints or Centaurus Financial investment recommendations may be eligible to pursue recovery through FINRA arbitration.
Potentially Recoverable Damages May Include:
- Investment losses
- Out-of-pocket damages
- Interest on losses
- Arbitration costs
- In certain cases, attorney’s fees
FINRA arbitration is the primary legal forum for investor disputes involving brokerage firms and financial advisors.
Signs You May Have a Claim Against William Burks II or Centaurus Financial
You may have a potential claim if:
- You were placed heavily into non-traded REITs or BDCs
- Your portfolio became illiquid or difficult to access
- You experienced unexpected or significant investment losses
- Your broker emphasized income while minimizing risk disclosure
- Your investments did not align with conservative objectives
- You were not fully informed of risks or liquidity restrictions
Investment Losses? Contact us now for a free consultation!
William Burks II Lawsuit and Legal Investigation Status
The William Burks II investigation involves potential claims for:
- Unsuitable investment recommendations
- Failure to supervise by Centaurus Financial
- Misrepresentation of investment risks
- Excessive concentration in illiquid securities
Investors may pursue claims individually through FINRA arbitration rather than traditional court litigation.
Speak With a Securities Fraud Attorney
The White Law Group represents investors nationwide in FINRA arbitration claims involving broker misconduct, unsuitable investments, and alternative investment losses.
If you invested with William Burks II and suffered losses, you may have legal options.
Free Consultation
Call: 888-637-5510 – Nationwide Securities Fraud and FINRA Arbitration Law Firm
Frequently Asked Questions
Yes. FINRA sanctioned William Burks II in 2025 in connection with findings involving unsuitable concentrations in illiquid alternative investments, including non-traded REITs and BDCs.
Customer complaints involving William Burks II allegedly involved non-traded REITs, business development companies (BDCs), interval funds, and other speculative or illiquid alternative investments.
Investors may be able to recover losses through FINRA arbitration if they were sold unsuitable investments or if Centaurus Financial failed to properly supervise broker recommendations.
FINRA arbitration is a legal process used by investors to pursue claims against brokerage firms and financial advisors for investment losses, unsuitable recommendations, or securities fraud.
Yes. Non-traded REITs can involve significant risks, including illiquidity, high fees, lack of transparency, and valuation concerns, making them unsuitable for some investors.
If you suffered losses in illiquid or high-risk investments recommended by William Burks II or Centaurus Financial, you may wish to consult a securities fraud attorney to evaluate potential FINRA arbitration claims.
