Soreide Law Group is reviewing potential investor disputes against Centaurus Financial securities broker Cindy Porto Chiellini [CRD#: 1015592, Lexington, South Carolina]. Notably, Colorado Division of Securities filed an enforcement action against Chiellini for her allegedly unsuitable and dishonest sales practices. Also, a substantial amount of Chiellini’s clients filed investment disputes about her. Supposedly, Chiellini breached a fiduciary duty to her clients, selling unsuitable and misrepresented investments including corporate debt securities, CDs and real estate securities which did not align with the clients’ investor profiles and that caused them to experience losses. Here’s more:
Cindy Chiellini Purportedly Sells Unsuitable Real Estate Security To Centaurus Client
Apparently, a client of Centaurus Financial contested Cindy Chiellini in FINRA Arbitration Claim #: 20-00616 filed February 20, 2020. Chiellini allegedly made false or misleading representations in connection with the client’s investments in a corporate bond and a real estate security. Also, the client contended that Chiellini recommended or sold unsuitable investments from 2011 to 2016. As a result, the client asked for compensation from JP Turner Company or Chiellini in the amount of $171,000. Evidently, this matter is not resolved yet.
JP Turner Client Indicates That Chiellini Breached Fiduciary Duty
Additionally, a client of JP Turner took issue with Cindy Chiellini’s sales practices through filing FINRA Arbitration Claim #: 20-00498 on February 12, 2020. Mainly, the client suggested that Cindy Chiellini breached a fiduciary duty, placing her interests ahead of the client’s interests. It appears that the corporate bond and real estate security investments were inconsistent with the client’s goals or circumstances. For this reason, the client demanded $100,000. This matter awaits a resolution.
Cindy Chiellini Allegedly Acted Negligently, Misrepresented Investments
Moreover, a Cetera Financial Group client filed FINRA Arbitration Claim #: 20-00003 on January 3, 2020. First of all, the client suggested that Chiellini was negligent as the client’s financial advisor. Supposedly, Chiellini misrepresented investments including CDs and real estate securities. Also, like the other clients, this client indicated that Chiellini violated her fiduciary responsibility in connection with these securities transactions. Because of this, the client demanded $50,000 in this pending matter.
Colorado Division of Securities Goes After Chiellini For Unsuitable Sales
Notably, Colorado Division of Securities filed Regulatory Action #: XY 2019-016 on September 25, 2019 against Cindy Chiellini for her possible securities law infractions. Supposedly, Chiellini violated laws relating to the suitability of transactions that she executed for Colorado residents. It seems that one or more Centaurus Financial clients in Colorado experienced losses. Also, the Division indicated that Chiellini engaged in “unfair and dishonest” practices in regard to her sales of CDs and corporate debt securities. This regulatory action against her is ongoing.
Losses From Centaurus Financial Securities Broker Cindy Chiellini?
Have you experienced losses by investing with Cindy Chiellini? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with experienced counsel in regard to possibly recovering your investment losses. Soreide Law Group represents clients on a contingency fee basis and will advance all costs. The law firm has recovered millions of dollars for clients who have incurred losses due to misconduct of brokerage firms and brokers like Chiellini.