Investors File Disputes About Bryon Martinsen

Soreide Law Group is investigating possible investor claims against securities broker Bryon Edwin Martinsen [CRD#: 1621649, Kings Park, NY]. Martinsen worked for (1) Centaurus Financial Inc. from 1999-2022; and (2) AXA Advisors LLC from 1987-1999.

Notably, Financial Industry Regulatory Authority (FINRA) BrokerCheck sanctioned Martinsen for allegedly selling away. Also, Centaurus Financial investors disputed the sales practices of the securities broker. Evidently, investors allege sales practice violations in these disputes, including that Martinsen made unsuitable transactions. Here is a brief summary of the disclosures about Martinsen:

FINRA Sanctions Martinsen

Specifically, FINRA says that from October 2014 through January 2020, while associated with Centaurus Financial, Martinsen was engaged in private securities transactions. Supposedly, he facilitated the sale of alternative investments without obtaining prior written approval from his firm. Martinsen also allegedly made payments to firm clients without authorization. He did this to compensate clients for losses they suffered as a result of recommendations Martinsen had made concerning securities investments.

Specifically, Martinsen made 55 private securities transactions involving 57 Centaurus Financial clients, who collectively invested $1,100,000. These transactions primarily involved real estate investment trusts. Martinsen supposedly linked clients who wanted to sell their illiquid alternative investment to clients who were looking to buy. Also, Martinsen bought some of the investments himself. All of this was reportedly done without his firm's approval, and Martinsen falsely claimed in a compliance questionnaire that he did not participate in the private securities transactions.

Additionally, from August 2014 through February 2021, Martinsen allegedly made at least 150 payments to 38 Centaurus Financial clients. The payments totaled close to $400,000, and they were made to compensate clients for losses associated with his recommendations. Evidently, Martinsen never notified Centaurus of the payments and did not receive prior written authorization to make the payments. Moreover, FINRA indicates that Martinsen falsely denied making the payments on three separate firm compliance questionnaires. Because of this, Martinsen violated FINRA Rules 2010, 2150(c), 3280, and NASD Rule 3040.

Centaurus Financial Client Accuses Bryon Martinsen Of Overconcentration

Evidently, a Centaurus Financial client filed FINRA Arbitration #: 21-02934 about Bryon Martinsen. Specifically, the client alleged that Martinsen overconcentrated the client's account. For this reason, the client claims that they experienced damages relating to investments in real estate securities. Therefore, on January 18, 2022, Centaurus Financial settled this matter by paying the client $15,801.50.

Centaurus Financial Client Accuses Martinsen Of Unsuitable Transactions

Also, on October 16, 2020, a Centaurus Financial client filed FINRA Arbitration #: 20-03451 about Bryon Martinsen. Specifically, the client alleged that Martinsen made unsuitable transactions. Because of this, the client purportedly sustained damages pertaining to investments in variable annuities, direct investments, and real estate securities. Therefore, the client requested $3,000,000 in compensation from Centaurus Financial or Martinsen. Evidently, this arbitration is pending a resolution.

Bryon Martinsen Allegedly Misrepresents Information To Centaurus Financial Client

Evidently, a client of Centaurus Financial contested Bryon Martinsen's sales practices by filing FINRA Arbitration #: 20-01137. Supposedly, Martinsen made misrepresentations and unsuitable transactions. Allegedly, the direct investments, variable annuities, and real estate securities transactions involving this securities broker resulted in damages for the client. Therefore, Centaurus Financial opted to settle the matter on November 23, 2021, by compensating the client in the amount of $985,000.

Centaurus Financial Client Accuses Martinsen Of Unsuitable Advice

Also, a Centaurus Financial client filed FINRA Arbitration #: 19-01042 about Bryon Martinsen. Specifically, the client alleged that Martinsen made unsuitable recommendations, breached a contract, and failed to supervise. For this reason, the client claims that they experienced damages relating to investments in real estate securities. Therefore, on August 18, 2021, Centaurus Financial settled this matter by paying the client $217,818.19.

Did Centaurus Financial Securities Broker Bryon Martinsen Cause You To Experience Damages?

Have you experienced damages because of investing through securities broker Bryon Martinsen? If the answer is yes, get in touch with Soreide Law Group at (888) 760-6552 to discuss your situation with a securities attorney regarding a potential recovery of your investment damages. Soreide Law Group, who has successfully recovered money for investors throughout all 50 states, represents clients through a contingency fee arrangement and advances all costs. Martinsen and brokerage firms Martinsen associated with deny all allegations against them.