DID CHERYL LYNN KITASHIMA CAUSE YOU INVESTMENT LOSSES?
Cheryl Kitashima Of Centaurus Financial, Inc. Has 6 Customer Complaints For Alleged Broker Misconduct
Who is Cheryl Kitashima of Centaurus Financial, Inc.?
Cheryl Kitashima (CRD #729389) has had a lengthy but troubled career in the securities industry, with a series of registrations spanning over several firms and states, reflecting a possibly unstable professional path. Since 1981, Kitashima has been associated with numerous firms, including Waddell & Reed, Inc., FSC Securities Corporation, and most recently, Centaurus Financial, Inc., where she has been registered since June 2005. Throughout her career, she has passed 4 General Industry/Product exams and 1 State Securities Law exam. Her qualifications extend across 8 U.S. states and territories. However, her record is marred by several customer disputes and allegations of professional misconduct, casting a shadow over her apparent experience and raising questions about her suitability and reliability as a financial advisor.
Investment Losses? Let’s talk.or, give us a ring at (800) 732-2889.
Cheryl Kitashima Customer Complaints
Kitashima’s professional record includes a total of 6 customer disputes, highlighting a history of significant customer dissatisfaction and allegations of unethical behavior. Here are the key disputes:
- July 2015 Dispute: Allegations of failure to supervise, unsuitable recommendations, and negligence related to investments made in 2008, with claimed damages of $144,500 and a settlement of $22,500.
- December 2014 Dispute: Involving misrepresentation and unsuitable recommendations concerning alternative investments and variable annuities between 2005 and 2008, with high claimed damages up to $499,999 and a settlement of $87,500.
- December 2014 Dispute: Centered on unsuitable recommendations and misrepresentation related to a real estate debenture investment and variable annuity in 2008, with damages sought between $100,000 and $200,000, settled for $30,000.
- October 2014 Dispute: Allegations of breach of fiduciary duty and misrepresentation for investments made from 2008 to 2011, with claimed damages ranging from $100,000 to $499,000, and a substantial settlement amount of $160,000.
These disputes were all settled without admission of wrongdoing by Kitashima, although they consistently involve serious accusations of professional failures, including fraud and breach of duty.
Allegations Against Cheryl Kitashima
The allegations and accusations against Cheryl L. Kitashima have varied widely but tend to focus on a few serious areas of misconduct:
- Failure to supervise
- Unsuitable recommendations
- Continuing fraud
- Violation of common law fraud
- Breach of fiduciary duty
- Negligence in connection with the investments purchased
- Misrepresentation, particularly concerning the nature and suitability of investments
These allegations form a pattern suggesting a disregard for client welfare and a propensity for high-risk strategies without adequate client consent or understanding, further complicating her professional integrity and ethical standing within the financial industry.
Cheryl Kitashima Red Flags & Your Rights As An Investor
Of course, Cheryl Kitashima 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 Cheryl Kitashima at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Cheryl Kitashima 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 Cheryl Kitashima
If you have questions about Centaurus Financial, Inc. and/or Cheryl Kitashima 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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