Investigation of Centaurus Financial, Inc. Broker Valentino Scott

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Centaurus Financial, Inc. broker Valentino Scott (CRD# 1497615) faces customer complaints regarding overconcentration and suitability of investment recommendations. He has been registered with Centaurus Financial, Inc. in West Hills, California since 1995. 

Valentino Scott Customer Complaints

He has been the subject of seven customer complaints between 2002 and 2022, two of which were denied and two were closed without action, according to his CRD report. The most recent complaints were regarding: 

March 2022. “During the period October 2013 to the present, the customers allege that the Registered Representative made poor recommendations, misrepresented and overconcentrated the customers accounts in unsuitable, illiquid and risky investments.” The case is currently pending. The complaint was regarding real estate securities and direct investment losses. 

March 2020. “During the period 2014 through 2020, the customer alleges that the Registered Representative recommended and over concentrated their account(s) in unsuitable investments.” The customer sought $500,000 in damages and the case was settled for $110,000. The complaint was regarding variable annuities, mutual funds, and real estate securities.

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 Valentino Scott’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.