Securities Arbitration Investment Fraud Lawyers » Misappropriation of Funds » Investors Bring Breach Of Fiduciary Duty Against Centaurus Financial

Old couple

William Charles Burks (also known as Bill Burks II), of Flower Mound, Texas, a stockbroker currently registered with Centaurus Financial Inc., is the subject of a customer initiated investment related FINRA securities arbitration claim that was settled for $20,000.00 in damages founded on accusations of breach of fiduciary duty by Burks regarding a real estate security transaction during the time that Burks was associated with Centaurus Financial. Financial Industry Regulatory Authority (FINRA) Arbitration No. 21-01765 (August 25, 2021). The claim alleges that the customer experienced damages by purchasing illiquid investments.

Burks has been identified in eleven additional customer initiated investment related disputes concerning allegations of his harmful activities while employed by Centaurus Financial. FINRA Public Disclosure shows that a customer initiated investment related complaint concerning Burks’ activities was resolved for $40,000.00 in damages supported by accusations of unauthorized transactions and mishandling of the customer’s account when Burks was registered with Centaurus Financial.

Another customer filed an investment related complaint involving Burks’ conduct where the customer requested compensatory damages founded on allegations of unsuitable investment advice by Burks concerning an investment strategy at Centaurus Financial. The complaint alleges undisclosed investment fees and tax consequences relating to a variable annuity.

On January 27, 2016, a different customer filed an investment related complaint regarding Burks’ activities in which the customer sought $32,000.00 in damages based upon accusations of misrepresentation and unsuitable advice by Burks regarding a real estate security and variable annuity transaction at Centaurus Financial.

Burks is also referenced in a customer initiated investment related arbitration claim that was settled for $52,750.00 in damages founded on allegations of breach of fiduciary duty by Burks regarding the customer’s investment in a REIT and other products while Burks was employed by Centaurus Financial. FINRA Arbitration No. 19-02703 (December 30, 2020). According to the claim, the customer was sold unsuitable investments. Misrepresentations had allegedly been made by the stockbroker.

On February 17, 2021, another customer filed an investment related arbitration claim concerning Burks’ conduct where the customer requested compensatory damages based upon accusations that Burks provided unsuitable investment recommendations as it pertained to real estate securities between 2016 and 2021. FINRA Arbitration No. 12-00316.

Burks is identified in a customer initiated investment related arbitration claim in which the customer sought compensatory damages founded on allegations of the customer’s investments being misrepresented by Burks between March of 2016 and November of 2020 during the time that he was associated with Centaurus Financial. FINRA Arbitration No. 21-00317. According to the claim, the customer’s investments underperformed and are worth little to nothing.

On June 28, 2021, a different customer filed an investment related arbitration claim involving Burks’ activities where the customer requested $650,000.00 in damages supported by accusations that their account was overconcentrated in REITs by Burks while he was at Centaurus Financial. FINRA Arbitration No. 21-01536.

Burks has been registered with Centaurus Financial as a stockbroker since August 29, 2000, and registered as an investment adviser representative since November 8, 2011.