Former Centaurus Financial, Inc. Broker Otto Bohon Jr. Accused of GWG Holdings Inc. Investment Losses

GWG Holdings Inc.

There are options for clients of former Centaurus Financial, Inc. broker Otto Bohon Jr. (CRD# 5677597), who is accused of GWG Holdings Inc. investment losses. He has been registered with Centaurus Financial, Inc. in Tucson, Arizona, from 2012 to 2020. 

Otto Bohon Jr. Customer Complaints

He has been the subject of eight customer complaints between 2020 and 2022, two of which were closed without action, according to his CRD report:

July 2022. “The customers allege that the Registered Representative overly concentrated their assets in unsuitable, high-risk and illiquid investments. No specific dates for the alleged activity were disclosed in the Statement of Claim.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was related to real estate securities losses. 

July 2022. “During March 2019 through the filing of this arbitration, the customer alleges that the Registered Representative misrepresented an unsuitable risky investment and breached his fiduciary duty.” The customer is seeking $50,000 in damages, and the case is currently pending. The complaint was related to corporate debt.

June 2022. “During March 2019, the customer alleges that the Registered Representative misrepresented an unsuitable illiquid investment and breached his fiduciary duty.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was related to corporate debt.

May 2022. “During 2020 through 2021, the customers allege that the Registered Representatives recommended illiquid investments.” The customer is seeking $100,000 in damages, and the case is currently pending. The complaint was related to real estate securities losses and corporate debt. 

December 2021. “During the period 2014 through 2016, the customer alleges that the Registered Representative recommended high risk, high commission illiquid investments.” The customer sought $170,000 in damages, and the case was settled for $80,000. The complaint was related to real estate securities losses. 

September 2020. “During the period January 2017 through approximately March 2020, the customer alleges that the Registered Representative breached his fiduciary duty.” The customer sought $1.1 million in damages, and the case was settled for $465,000. The complaint was related to real estate securities losses. 

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Centaurus Financial, Inc. may be liable for investment or other losses suffered by Otto Bohon Jr.’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.

"*" indicates required fields

Please do not include any confidential or sensitive information in this form. Submitting this form does not create an attorney-client relationship.

Author: Jeffrey Erez

The founder of Erez Law, Jeffrey Erez, focuses exclusively on securities arbitration and litigation. Mr. Erez passionately believes in representing aggrieved investors and obtaining justice for his clients through litigation.