Public records provided by the Financial Industry Regulatory Authority (FINRA) on September 6, 2016 indicate that California-based Centaurus Financial broker/adviser Tony Kassaei has been the subject of resolved or pending customer complaints. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Kassaei (CRD# 4375259).
Tony Kassaei has spent fifteen years in the securities industry and has been registered with Centaurus Financial in Irvine, California since October 2015. Previous registrations include Summit Brokerage Services in Irvine, California; JP Turner & Company in Irvine, California; LPL Financial in Newport Beach, California; UBS Financial Services in Weehawken, New Jersey; Citicorp Investment Services in Long Island City, New Jersey; and Morgan Stanley DW in Purchase, New York. He is a registered broker and investment adviser in California.
According to his BrokerCheck report, Tony Kassaei has received one customer complaint and one pending customer complaint.
In July 2016 a customer alleged Tony Kassaei, while employed at JP Turner & Company, “induced her into loaning him $110,000 through a real estate investment company purportedly owned, at least partially, owned by the Registered Representative.” The customer is seeking $110,000 in damages in the pending complaint.
In 2011 a customer alleged Tony Kassaei, while employed at JP Turner & Company, made unsuitable recommendations, misrepresented material facts, acted negligently, committed fraud, and breached his fiduciary duty. The complaint settled for $84,000, to which Mr. Kassaei individually contributed $84,000.
According to FINRA rules and federal securities law, advisory firms like Benchmark Capital Advisors are beholden to a fiduciary duty that requires them to act only in the best interests of their clients. This means, for instance, that they can only recommend suitable investments that take into account the client’s investment goals, experience, and risk tolerance. Firms are not permitted to misrepresent or omit material facts related to an investment, as this might cause a customer to invest unsuitably. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding Tony Kassaei, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.