David Bruce White, of Bloomfield Hills, Michigan, a stockbroker currently registered with Centaurus Financial, Inc., has been named in a customer initiated investment related arbitration claim on July 27, 2016, in which the customer requested $75,000.00 in damages based upon allegation that White’s recommendations in limited partnership interests and direct participation programs caused the customer to sustain investment losses.
FINRA Public Disclosure reveals that White has been named in ten additional customer arbitrations concerning allegations of his misconduct while employed with firms such as Centaurus Financial Inc., Vestax Securities Corporation, and Leonard & Company. Particularly, on January 15, 2007, a customer initiated investment related arbitration action involving White’s conduct was settled for $13,999.00 in damages based upon allegations that White made unsuitable investment recommendations in variable annuity investments.
On June 15, 2010, a civil suit regarding White’s activities was resolved for $14,999.99 in damages based upon allegations that White was responsible for the customers’ investments losses in a pooled life insurance investment. Subsequently, on February 18, 2014, another customer initiated investment related arbitration claim involving White’s conduct was settled for $3,160.74 in damages based upon allegations that White effected a variable annuity investment which was not suitable for the customer.
Further, on January 8, 2015, a customer initiated investment related arbitration claim involving White’s conduct was settled for $2,564.31 in damages based upon allegations that White made misrepresentations to the customer concerning insurance products and effected unsuitable insurance policy transactions. On August 25, 2015, another customer initiated investment related arbitration action regarding White’s activities was resolved for $35,000.00 in damages based upon allegations that White did not apprise the customer concerning the payment terms of an annuity investment.
Moreover, on November 17, 2015, a customer filed an investment related arbitration claim regarding White’s activities, in which the customer requested $1,500,000.00 in damages based upon allegations that White made misrepresentations to customers regarding investments in limited partnership interests, oil and gas programs, and non-traded real estate investment trusts. The customers also alleged that White effected the transactions for purposes of generating excessive fees.
Guiliano Law Group
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