Advisor Alert: Our Attorneys Are Investigating Valentino Michael Scott For Investment Fraud
Did You Lose Money Because of Valentino Scott?
Filed: March 4, 2024
Valentino Scott currently has three (3) pending customer complaints. Overall, he has been the subject of one (1) regulatory event, one (1) termination event, and thirteen (13) customer complaints. As an investor, you may be entitled to compensation for losses accrued due to mismanagement of your investments.
Let’s begin our Patil Law Advisor Alert with a summary report on Valentino Michael Scott.
Who Is Valentino Michael Scott of Centaurus Financial, Inc.?
- Advisor Name: Valentino Michael Scott
- Aliases: Valentino Scott
- CRD: 1497615
- Location: West Hills, California
- Current Employer: Centaurus Financial, Inc.
- Previous Firms: Montano Securities Corporation and Fortis Investors, Inc.
- Number of Known Customer Complaints: 13
- Number of Known Regulatory Events: 1
- Number of Known Termination Events: 1
- Can Valentino Scott Be Sued: Yes, in Private Arbitration
- Can Valentino Scott’s Employers Be Sued For Failing to Supervise Actions: Yes, in Private Arbitration
- Highest Damages Allegation: $500,000
- Highest Settlement: $110,000
If you have suffered investment losses by Valentino Scott, we strongly encourage you to exercise your rights to experienced legal representation. Recover what is owed to you by retaining a breach of fiduciary duty lawyer. Reach out to the legal team at Patil Law, P.C. via the secure online form or call the firm directly toll-free at 1-800-950-6553.
Customer Complaints Filed Against Valentino Scott For Broker Misconduct
As of this publication date, Valentino Scott has been the subject of 1 regulatory event, 1 termination event, and 13 customer disputes. Let’s review them below.
In January 2024, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that specifically in January of 2019, Mr. Scott recommended an unsuitable, high-risk, speculative, and illiquid investment. Per the customer, he/she lost over $50,000 because of Mr. Scott’s actions. As of this publication date, this claim remains pending.
In October 2023, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that Mr. Scott recommended unsuitable, high-risk, speculative and illiquid investments, and breached his fiduciary duty. Per the customer, he/she lost over $298,000 because of Mr. Scott’s actions. As of this publication date, this claim remains pending.
In July 2023, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that Mr. Scott recommended a risky, high yield, complex, and illiquid investment. Per the customer, he/she lost over $25,000 because of Mr. Scott’s actions. On December 11, 2023, Mr. Scott settled the claim for $13,999, and some or all of this amount may have been paid by Mr. Scott’s employer and/or insurance carrier.
In June 2023, a FINRA arbitration was filed against or in reference to Valentino Scott by multiple customers of Centaurus Financial, Inc. alleging that Mr. Scott recommended an unsuitable, high-risk and illiquid investment. Per the customers, they lost over $250,000 because of Mr. Scott’s actions. As of this publication date, this claim remains pending.
In February 2023, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that Mr. Scott misrepresented and mishandled the investment. Per the customer, he/she lost over $40,000 because of Mr. Scott’s actions. On January 29, 2024, Mr. Scott settled the claim for $14,500, and some or all of this amount may have been paid by Mr. Scott’s employer and/or insurance carrier.
In July 2022, a FINRA arbitration was filed against or in reference to Valentino Scott by multiple customers of Centaurus Financial, Inc. alleging that Mr. Scott misrepresented an unsuitable investment. On July 20, 2023, Mr. Scott settled the claim for $92,500, and some or all of this amount may have been paid by Mr. Scott’s employer and/or insurance carrier.
In March 2022, a FINRA arbitration was filed against or in reference to Valentino Scott by multiple customers of Centaurus Financial, Inc. alleging that during the period October 2013 to the present, Mr. Scott made poor recommendations, misrepresented and over concentrated the customers accounts in unsuitable, illiquid, and risky investments. On August 22, 2023, Mr. Scott settled the claim for $70,500, and some or all of this amount may have been paid by Mr. Scott’s employer and/or insurance carrier.
In March 2020, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that during the period 2014 through 2020, Mr. Scott recommended and over concentrated their account(s) in unsuitable investments. Per the customer, he/she lost over $500,000 because of Mr. Scott’s actions. On May 26, 2022, Mr. Scott settled the claim for $110,000, and some or all of this amount may have been paid by Mr. Scott’s employer and/or insurance carrier.
In November 2010, a FINRA arbitration was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that death benefit was misrepresented on variable annuity policies purchased in 1999. Per the customer, he/she lost over $120,000 because of Mr. Scott’s actions. An arbitration panel found that Valentino Scott was negligent and awarded $39,916 in favor of the customers.
In June 2008, a complaint was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that Mr. Scott sold the customer inappropriate class of mutual funds and failed to disclose loss in selling GNMA securities. Per the customer, he/she lost over $10,000 because of Mr. Scott’s actions.
In May 2008, a complaint was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that the client purchased a variable annuity that was not suitable, certain product features were misrepresented and Mr. Scott failed to reallocate sub accounts to a more conservative position as expressed by the customer. Per the customer, he/she lost over $35,120 because of Mr. Scott’s actions.
In January 2008, a complaint was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that the client was unaware of fees for 7% income rider, and alleges he was not aware that the investment was a variable annuity. Per the customer, he lost over $5,000 because of Mr. Scott’s actions.
In November 2002, a complaint was filed against or in reference to Valentino Scott by a customer of Centaurus Financial, Inc. alleging that the client was uninformed as to surrender charge and holding period of contract with Manulife Financial, Inc. – Venture III. Per the customer, he/she lost over $15,091 because of Mr. Scott’s actions.
In June 1988, Prudential Insurance Company of America terminated Valentino Scott for lack of faith.
In July 1987, California Department of Insurance initiated a regulatory action against or in reference to Valentino Scott for improper use of money collected from insureds.
How To File A Claim Against Valentino Scott of Centaurus Financial, Inc. (previously with Montano Securities Corporation and Fortis Investors, Inc.) To Get Your Money Back
If you have questions about Valentino Scott, Centaurus Financial, Inc., Montano Securities Corporation, Fortis Investors, Inc., or the management or performance of your accounts, please contact Attorney Patil for a free initial consultation via email or toll-free at 1-800-950-6553.