Claim filed against Centaurus Financial to recover Core Series 2007 8% Secured Debenture losses

SAYREVILLE, N.J. - Jan. 7, 2015 - PRLog -- The White Law Group announces that it has filed a Financial Industry Regulatory Authority (FINRA) arbitration statement of claim against Centaurus Financial.  This claim seeks to recover losses between $50,000 and $100,000.

The claim, filed by The White Law Group, was submitted to FINRA Dispute Resolution on behalf of an investor alleging claims for violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision. The claim further alleges that Centaurus Financial unsuitably invested the client in Core Realty Series A Debenture (2007, 8% Secured), as well as Icon Leasing Fund 12.

Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.  It is alleged that Centaurus Financial failed to perform the necessary due diligence on these investments prior to recommending them to these particular investors.

The financial advisor that handled the account at issue is named Ralph Saviano.  According to his FINRA Broker Report (CRD) it appears that Mr. Saviano has been the subject of thirteen (13) customer complaints.

When asked about the claim, D. Daxton White, the firm's managing partner, stated "This claim bears striking similarities to other claims we have filed against Centaurus involving this particular financial advisor."

FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional.  It provides investors with an opportunity to attempt to recoup their investment losses and is an alternative to filing such claims in court.

For more information on the claim filed by The White Law Group, please contact the firm's Chicago office at 312-238-9650.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida.  For more information on The White Law Group and its representation of investors in FINRA arbitration claims, visit http://www.whitesecuritieslaw.com.