The law firm of Oakes & Fosher, LLC recently filed an arbitration on behalf of an investor against Centaurus Financial regarding brokerage accounts handled by FINRA licensed broker Timothy Tremblay. Publicly available records reflect that Mr. Tremblay has been licensed with Centaurus Financial from 2003 to the present. These publicly available records also reflect that Mr. Tremblay has been the subject of at least 23 other customer complaints. These complaints allege that Mr. Tremblay made unsuitable recommendations, engaged in unauthorized trading, made misrepresentations, and churned client accounts. A number of the complaints deal with illiquid, high commission products, such as non-traded real estate investment trusts (REITS) and private placements.
The current complaint alleges that Mr. Tremblay recommended unsuitable illiquid investments that paid Mr. Tremblay very high commissions. The majority of these products were non traded REITS and private placements. The complaint also alleges that Centaurus Financial was negligent in its supervision of Mr. Tremblay.
Oakes & Fosher dedicates its entire legal practice to representing investors that have suffered losses due to the activity of brokers like Timothy Tremblay. If you or someone that you know has lost money due to the negligence or fraud of a stockbroker, such as Timothy Tremblay, please contact Oakes & Fosher for a free and private consultation. Oakes & Fosher handles cases on a contingency basis, meaning that you don’t pay us unless we collect for you.