| Read Time: 2 minutes | Centaurus Financial Complaints | News & Articles |


Atul Makharia Of Centaurus Financial, Inc. Has 12 Customer Complaints For Alleged Broker Misconduct

Who is Atul Makharia of Centaurus Financial, Inc.?

Atul Makharia

Atul Makharia (CRD #5070762) who is currently registered as a broker with Centaurus Financial, Inc. and located in Lexington, South Carolina, is a subject of one of our many securities industry sales practice abuse investigations. Prior to Centaurus Financial, Inc., Atul Makharia was associated with other investment advisory and brokerage firms with a history of customer complaints and securities industry regulatory problems. Atul Makharia and his supervisor Ricky Mantei had their own problems with the regulators. In February 2023, the SEC filed an administrative proceeding against both advisors. Both financial advisors submitted offers the settlement and consented, without admitting or denying the findings that the recommended VRSPs to retail customers for whom such investments were unsuitable light of each of the specific customers financial situations and needs. The sanctions included a cease-and-desist order, suspension for 6 months, $35,000 penalty and an undertaking regarding future business.

Investment Losses? Let’s talk.

or, give us a ring at (800) 732-2889.

Atul Makharia Customer Complaints

Atul Makharia has been the subject of 12 customer complaints that we know about seeking to recover investment losses. Eight of the customer complaints are settled by financial advisors’ employers in favor of the investors. Only one customer dispute was denied by J.P. Turner and the investor took no further action. There are currently 3 FINRA arbitration proceedings that were recently filed and still pending against Centaurus Financial for Atul Makharia’s alleged misconduct.

Allegations Against Atul Makharia

A sample of the allegations made in the FINRA reported arbitration claim settlements and/or pending complaints for investment losses follows:

  • Misrepresentation of unsuitable, high-risk, speculative, and illiquid investments involving real estate securities and corporate debt.
  • Unsuitable recommendation of speculative, high-risk, and illiquid corporate debt investment.
  • Breach of fiduciary duty in connection with corporate debt and real estate security investments.
  • Unsuitable corporate debt investments.
  • Misrepresentations, unsuitable investment recommendations and breaches of fiduciary duty in connection with corporate debt transactions.
  • Overconcentration of customer’s investments and unsuitable, complex, high-risk, speculative, and illiquid investments.
  • Recommendation of unsuitable investments that were in breach of advisor’s fiduciary duty.
  • Overconcentration of customer’s account and unsuitable investments.

Atul Makharia Red Flags & Your Rights As An Investor

Of course, Atul Makharia 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 Atul Makharia at Centaurus Financial, Inc. on alert to review carefully the activity and performance of their accounts and question whether Atul Makharia 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?

best investment fraud lawyers

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 Atul Makharia

If you have questions about Centaurus Financial, Inc. and/or Atul Makharia 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.

Author Photo

Robert Wayne Pearce

Robert Wayne Pearce of The Law Offices of Robert Wayne Pearce, P.A. has been a trial attorney for more than 40 years and has helped recover over $170 million dollars for his clients. During that time, he developed a well-respected and highly accomplished legal career representing investors and brokers in disputes with one another and the government and industry regulators. To speak with Attorney Pearce, call (800) 732-2889 or Contact Us online for a FREE INITIAL CONSULTATION with Attorney Pearce about your case.

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars