DID BRYON EDWIN MARTINSEN CAUSE YOU INVESTMENT LOSSES?
Bryon Martinsen Formerly With Centaurus Financial, Inc. Has 18 Customer Complaints For Alleged Broker Misconduct
About Bryon Martinsen formerly with Centaurus Financial, Inc.?
Bryon Martinsen (CRD #1621649) has been in the financial services industry since 1987, showcasing a long-standing career. Over his extensive career, Mr. Martinsen has passed 1 principal/supervisory exam, 4 general industry/product exams, and 2 multi-state securities law exams. He was previously registered with Centaurus Financial, Inc. from October 1999 to September 2022 and AXA Advisors, LLC from February 1987 to October 1999. As of now, Mr. Martinsen is not currently registered with any firm. His career includes a significant focus on securities and alternative investments, with his most recent registration involving alternative investment products.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Bryon Martinsen Customer Complaints and Reviews
- Regulatory Event: 1 Incident
- Case (August 19, 2022): FINRA initiated regulatory action against Mr. Martinsen for participating in private securities transactions involving approximately $1,100,000 in alternative investments without providing prior written notice to his member firm. He also made over 150 payments totaling approximately $400,000 to compensate customers for losses on investments he previously recommended, without notifying his firm. Mr. Martinsen consented to a 15-month suspension and a $10,000 fine, which he paid on November 13, 2023.
- Customer Disputes: 18 Incidents
- Settled Disputes:
- Case 1 (June 12, 2024): A customer alleged that Mr. Martinsen invested their accounts in unsuitable, high-risk, illiquid investments from November 2007 to October 2020. The case was settled for $750,000.
- Case 2 (August 18, 2021): Customers alleged unsuitable investments beginning in 2009 through October 2018. The case was settled for $217,818.19.
- Case 3 (November 23, 2021): Customers claimed misrepresent-tation and unsuitable investments in real estate securities. The dispute was settled for $985,000.
- Pending Disputes:
- Case 1 (June 11, 2024): Customers allege unsuitable, high-risk, illiquid investments, with claimed damages of $175,000. This case is currently pending.
- Case 2 (January 3, 2024): Allegations include the improper investment of funds in high-risk, illiquid non-traded REITs, with claimed damages of $1,445,760. The case is pending.
- Settled Disputes:
Allegations Against John Marcheso
- Regulatory Allegations:
- Private Securities Transactions: FINRA alleged that Mr. Martinsen participated in private securities transactions without prior notice to his firm and compensated customers for investment losses without firm authorization. These activities led to a suspension and fine.
- Customer Dispute Allegations:
- Unsuitable and High-Risk Investments: Multiple customers have alleged that Mr. Martinsen recommended unsuitable, high-risk, and illiquid investments, often involving real estate securities and non-traded REITs.
- Misrepresentation and Omission of Material Facts: Several disputes involve claims of misrepresentation and failure to disclose key risks associated with the investments.
- Unauthorized Compensation to Customers: Mr. Martinsen was found to have made unauthorized payments to customers to compensate them for investment losses.
- Employment Termination Allegations:
- Outside Business Activities: Mr. Martinsen was discharged from AXA Advisors, Inc. in September 1999 due to involvement in outside business activities, specifically selling viatical settlements and promissory notes, which he continued to service despite a cease and desist order.
Bryon Martinsen Red Flags & Your Rights As An Investor
Of course, Bryon Martinsen did not admit to any of the allegations. But regardless of whether an arbitration award was entered, a settlement occurred, or the customer complaint is still pending, the allegations made by customers are red flags which should put all current and former customers of Bryon Martinsen at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Bryon Martinsen has engaged in any stockbroker misconduct that may have caused them investment losses. The large number of customer complaints at Centaurus Financial, Inc. also raises questions about the brokerage firm’s supervisory practices. If these red flags raise questions, call us and we will inform you of your rights as an investor.
Did You Lose Money Because of Broker Misconduct?
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Our investment fraud attorneys will evaluate your claim for free and let you know if we can help you recover your losses.
Need Legal Help? Let’s talk.or, give us a ring at 561-338-0037.
File A Claim To Recover Your Investment Losses At Centaurus Financial, Inc. Due To Bryon Martinsen
If you have questions about Centaurus Financial, Inc. and/or Bryon Martinsen and the management or performance of your accounts, please contact Attorney Pearce for a free initial consultation via email or Toll Free at 1-800-732-2889.
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