Cindy Chiellini, Broker for Centaurus Financial, Inc., Subject of Twelve Pending Customer Disputes

The disputes allege misconduct ranging from negligence to unsuitable investment recommendations.

The Sonn Law Group is investigating allegations that Cindy Chiellini committed misconduct. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Cindy Chiellini  (CRD#: 1015592) was previously employed by First Allied Securities from 2008 until 2017. More recently, he was employed with Dominion Investor Services from 2017 until 2018.

In April 2020, the Missouri Securities Division ordered Reither to cease and desist and show cause why restitution of over $46,000 should not be paid. The Securities Division alleged that Reither engaged in dishonest and unethical conduct by borrowing money from a client while he was employed with First Allied Securities. He also failed to inform his employer of the outside business activity with the client. Reither has yet to repay the loan made by the client.

The Securities Division is seeking an order for restitution of at least $46,839 plus interest, a civil penalty of $10,000, investigation costs, and permanently barring Reither from acting as a broker-dealer agent or investment adviser representative.

Chiellini has thirty-seven disclosures on his BrokerCheck report. The most recent customer disputes are listed below:

March 2020 Customer Dispute

• Status: Pending
• Allegations: “During the period of approximately 2008/2009 through 2017, the Customers allege that the financial advisor over concentrated their portfolio in unsuitable investments and breached her fiduciary duty.”
• Damage Amount Requested: $100,000.00
• Broker Comment: “It appears as though I was named solely as a result of my capacity as a senior affiliated Registered Representative of the Branch. Due to my long tenure and experience at the Branch, I was identified on all customer statements as a point of contact for any service related issues. I had no direct or indirect relationship or contact with the claimants. I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. I will vigorously defend this matter to the fullest extent of the law.”

February 2020 Customer Dispute

• Status: Pending
• Allegations: “During the period 2011 through January 2018, the customer alleges that the Registered Representative misrepresented unsuitable investments and breached his fiduciary duty.”
• Damage Amount Requested: $100,000.00
• Broker Comment: “It appears as though I was named solely as a result of my capacity as a senior affiliated Registered Representative of the Branch. Due to my long tenure and experience at the Branch, I was identified on all customer statements as a point of contact for any service related issues. I had no direct or indirect relationship or contact with the claimants. I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. I will vigorously defend this matter to the fullest extent of the law.”

February 2020 Customer Dispute

• Status: Pending
• Allegations: “The customer alleges that the Registered Representative invested his account(s) in unsuitable investments and breached his fiduciary duty. No dates of alleged activity were disclosed in the Statement of Claim.”
• Damage Amount Requested: $100,000.00
• Broker Comment: “It appears as though I was named solely as a result of my capacity as a senior affiliated Registered Representative of the Branch. Due to my long tenure and experience at the Branch, I was identified on all customer statements as a point of contact for any service related issues. I had no direct or indirect relationship or contact with the claimants. I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. I will vigorously defend this matter to the fullest extent of the law.”

February 2020 Customer Dispute

• Status: Pending
• Allegations: “During the period of approximately 2011 through February 2020, the customers allege that the Registered Representative invested their account(s) in unsuitable investments and breached his fiduciary duty.”
• Damage Amount Requested: $100,000.00
• Broker Comment: “It appears as though I was named solely as a result of my capacity as a senior affiliated Registered Representative of the Branch. Due to my long tenure and experience at the Branch, I was identified on all customer statements as a point of contact for any service related issues. I had no direct or indirect relationship or contact with the claimants. I vehemently deny any wrongdoing and assert that the customer’s allegations are completely without merit. I will vigorously defend this matter to the fullest extent of the law.”

January 2020 Customer Dispute

• Status: Pending
• Allegations: “The Customer alleges that the financial advisor misrepresented unsuitable investments and breached her fiduciary duty. No dates of alleged activity were disclosed in the Statement of Claim.”
• Damage Amount Requested: $143,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the allegations are completely without merit. The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment. The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

January 2020 Customer Dispute

• Status: Pending
• Allegations: “The Customer alleges that the financial advisor negligent, misrepresented unsuitable investments and breached her fiduciary duty. No dates of alleged activity were disclosed in the Statement of Claim.”
• Damage Amount Requested: $50,000.00
• Broker Comment: “I vehemently deny any wrongdoing and assert that the allegations are completely without merit. The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment. The customers confirmed in writing that they not only received the requisite investment documentation/disclosures, but that they fully understood the characteristics and risks of the investments. At all times, I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

Contact Us Today

The Sonn Law Group is currently investigating allegations that Cindy Chiellini committed misconduct. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.