Texas Alternative Investment Loss Lawyers

Sugar Land, TX Couple Files Seven-Figure REIT Fraud Lawsuit Against Centaurus Financial. Our Texas Alternative Investment Loss Lawyers Are Representing These Claimants 

A retired Texas couple is seeking up to $1,000,000 in damages from Centaurus Financial over losses they sustained in non-traded real estate investment trusts (non-traded REITs) and other alternative investments. The claimants contend that ex-Centaurus broker Mark Allen Upchurch allegedly unsuitably recommended:

• The real estate investment trust (REIT), UDF IV, which lost about half its value following allegations that parent company United Development Funding was running an alleged Ponzi scam.
• American Realty Capital-sponsored REITs, which have since failed.
• The non-traded REIT MacKenzie Realty.
• An indexed annuity from Nationwide.

Our clients met and started working with Upchurch, who is now deceased, while he was still a financial advisor at a now expelled brokerage firm and then later at Centaurus. It appears that these investments from which these retirees suffered losses were marketed to them not because they were in their best interests but because, allegedly, Centaurus and Upchurch earned large commissions.

As a result, these investors ended up investing millions of dollars in these high-risk illiquid investments. In their Financial Industry Regulatory Authority (FINRA) arbitration case, these claimants are alleging misrepresentations and omissions, breach of contract, breach of fiduciary duty, negligence, gross negligence, and more.

Shepherd Smith Edwards and Kantas Texas Alternative Investment Loss Lawyers (investorlawyers.com) is representing these retirees and others in their broker negligence lawsuits against Centaurus.

Are You An Investor Who Suffered Losses While Working With Centaurus Financial Advisor Mark Upchurch

This Houston broker was a registered representative with Centaurus from 2012 to 2020 when he died. Following his passing, a number of his clients discovered he was defrauding them. Mark Upchurch’s CRD notes numerous customer disputes alleging unsuitability, breach of fiduciary duty, misrepresentations, and more.

Even though Upchurch is deceased, investors who worked with him and were affected by his alleged broker fraud may be able to hold Centaurus liable. Broker-dealers are supposed to properly supervise their registered representatives, identify any signs of misconduct, and stop any wrongful or careless actions that could cause investor losses. A failure to prevent or protect investors from the actions of their registered representatives can lead to claims being brought against the brokerage firm in Financial Industry Regulatory Authority (FINRA) arbitration.

Already, our seasoned alternative investment fraud attorneys are representing a number of investors against Centaurus because of financial advisor negligence and misconduct related to the sale of a number of investments, including GWG L Bonds, Moody National REIT II, Silver Star Properties REIT, and more. We have been thoroughly investigating this brokerage firm for some time as we fight for the financial recovery of our clients.

With our main securities law offices in Houston and Dallas, Shepherd Smith Edwards and Kantas has been representing investors in Texas and the rest of the United States for over 30 years. When you work with us you can trust on receiving quality securities representation and personalized attention.

More than 90% of our clients, including many retirees, have collectively recouped many millions of dollars from broker-dealers and investment advisers.

How To Schedule A Call To Discuss Your Alternative Investment Losses:

Call (800) 259-9010 or in Dallas (214) 613-5306 or in Houston (936) 251-0033 or contact us online.