Securities Broker Robert Binkele Involved In Centaurus Financial Investor’s Dispute
Investment loss recovery counsel at Soreide Law Group came across the FINRA BrokerCheck record of securities broker Robert Joseph Binkele (CRD#: 2393598, Indian Wells, California). Notably, there are two investor disputes that involve allegations against this securities broker, who worked for securities firms Centaurus Financial and JP Turner, among others. In addition, a Washington securities regulator investigated Binkele for deferred sales trust transactions. Here’s a brief summary of those disclosures.
Centaurus Financial Client Alleges Misrepresentation, Negligence In Dispute About Robert Binkele
Evidently, a client of Centaurus Financial brought a dispute about Robert Binkele in June 2021. Supposedly, the investor used a deferred sales trust (DST) in connection with a property sale. According to the lawsuit, a trustee signed a promissory note in which the trust agreed to pay the sale amount with interest. Allegedly, the securities broker misrepresented the DST. The client also alleges negligence and breach of fiduciary duty by the securities broker with regard to the creation of this deferred sales trust and the promissory note transaction. Evidently, the lawsuit awaits a resolution.
Washington Department Of Financial Institutions Pursues Investigation Into Binkele
It appears that in August 2019, Washington Department of Financial Institutions investigated Robert Binkele. Evidently, the investigation concerned deferred sales trust transactions. Notably, the state regulator alleged that multiple Washington residents entered into these transactions. This investigation is still ongoing.
Robert Binkele’s Voluntary Resignation From Raymond James
Evidently, Robert Binkele worked for Raymond James Financial Services (Palm Desert, California). The securities firm permitted Binkele to resign amid allegations of him violating policy. Supposedly, too many complaints came from clients who invested with those under Binkele’s supervision. The branch manager’s accrual of client complaints allegedly ran afoul of company policy.
Ash Company Client Dispute Alleges Misrepresentation By Binkele
Also, Robert Binkele worked for Ash and Company. A client of that securities firm brought a dispute about Binkele. Mainly, the client alleged that Binkele misrepresented information regarding insurance. Supposedly, the broker recommended for the client to buy viatical settlements. The Statement of Claim alleges that Binkele guaranteed that the client would make 20 percent, but did not discuss costs of maintaining the investment. For this reason, a NASD Arbitrator ordered Binkele and Ash to compensate the client.
Harmed By Investing With Binkele?
Evidently, securities broker Robert Binkele denies accusations of engaging in sales practice violations. Have you incurred losses or damages by investing with him at Centaurus Financial, JP Turner, HB Securities or DST Wealth Management? If so, touch base with Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a possible recovery of your investment losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The law firm has meaningfully helped clients who have experienced losses because of their securities brokers and financial advisors.