Investors potentially experienced sales practice violations due to securities broker Michael Anthony Elias [CRD: 1522834, Brentwood, California], based on publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Evidently, Elias worked for Packerland Brokerage Services Inc. from March 12, 2013, to December 31, 2018, before joining Centaurus Financial Inc. on January 2, 2019, where he remains registered today. Keep reading to find out more about Elias’s disclosures and what they may mean for investors.
Centaurus Financial Inc. Investor Accused Elias Of Breach Of Fiduciary Duty And Unsuitable Recommendations
Evidently, a Centaurus Financial Inc. client filed FINRA Arbitration No. 24-00752 about Michael Elias. Evidently, the client alleged that Elias breached his fiduciary duty and made unsuitable recommendations regarding bonds. As a result, on April 22, 2025, Centaurus Financial Inc. settled this matter by paying the client $42,000.00 in damages.
Michael Elias Disclosed Misrepresentation Allegations By Centaurus Financial Inc. Client
Also, a client of Centaurus Financial Inc. disputed Michael Elias’s sales practices by bringing FINRA Arbitration No. 23-00793. Allegedly, Elias recommended risky investments and misrepresented corporate bonds. It appears that Elias caused the client to sustain damages. For this reason, Centaurus Financial Inc. opted to settle the matter on January 8, 2024, by paying compensation totaling $18,500.00.
Centaurus Financial Inc. Investor Accused Elias Of Unsuitable Trading
Centaurus Financial Inc. investor accused Michael Elias of unsuitable investment and misrepresentation. Specifically, a Centaurus Financial Inc. client filed FINRA Arbitration No. 23-00006 about Michael Elias. Mainly, the client claimed that Elias recommended an unsuitable investment and made misrepresentations. Because of this, the investor allegedly incurred damages connected to corporate bonds. Therefore, on April 30, 2024, Centaurus Financial Inc. settled this matter by paying the client $11,500.00 in damages.
Michael Elias Discharged By Princor Financial Services Corporation
Elias was discharged for using blank form and altering date. Evidently, Princor Financial Services Corporation disaffiliated with Elias on January 30, 2013. Allegedly, Elias used a signed blank client form and altered a document in connection with life insurance products.
Did You Sustain Losses Because Of Securities Broker / Financial Advisor Elias?
Did you experience losses because of Michael Elias? If so, contact Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a possible recovery. Soreide Law Group has recovered losses for clients located throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Elias and brokerage firms Elias worked for deny allegations made against them.
