Were you the victim of Centaurus Financial, Inc. broker Patrick Hobert (CRD# 805680), who is accused of unsuitable investment recommendations? He has been registered with Centaurus Financial, Inc. in Newport Beach, California, since 2007.
Patrick Hobert Customer Complaints
He has been the subject of 17 customer complaints between 1988 and 2025, three of which were closed without action, according to his CRD report. The most recent complaints are regarding:
April 2025. “Customer alleges that in November of 2019, the Registered Representative recommended an unsuitable, high-risk, illiquid investment.” The customer is seeking $99,000 in damages.
July 2024. “The customer alleges that the Registered Representative recommended unsuitable, high-risk, illiquid investments and breached his fiduciary duty. No specific dates for the alleged activity were identified in the Statement of Claim.” The customer sought $112,000 in damages, and the case was settled for $35,000. The complaint was regarding real estate securities and corporate debt.
June 2024. “The customers allege that the Registered Representative recommended unsuitable, high-risk, illiquid investments and breached his fiduciary duty. No specific dates for the alleged activity were identified in the Statement of Claim.” The customer is seeking $100,000 in damages.
December 2023. “The customer alleges that the Registered Representative recommended an unsuitable investment and investment strategies in an illiquid alternative investment. No specific dates for the alleged activity were identified in the Statement of Claim.” The case was settled for $14,000. The complaint was regarding real estate security losses.
September 2023. “The customers allege that in February of 2020, the Registered Representative recommended a high-risk, unsuitable, speculative, illiquid investment and breached his fiduciary duty.” The customer sought $50,000 in damages, and the case was settled for $10,000. The complaint was regarding corporate debt.
June 2023. “In December 2019 and July 2020, the customers allege that the Registered Representative misrepresented a high-risk, speculative and illiquid investment.” The case was settled for $50,500. The complaint was regarding corporate debt.
June 2022. “In March 2020, the customer alleges that the Registered Representative improperly recommended a high-risk, high commission and illiquid investment.” The customer sought $100,001 in damages, and the case was settled for $50,474.59. The complaint was regarding corporate debt, and it took place while he was registered with Centaurus Financial, Inc.
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 Patrick Hobert’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