Investors Sue Centaurus For Breach Of Fiduciary Duty

Cindy Lucille Porto Chiellini (also known as Cindy L. Porto) of Lexington South Carolina a stockbroker currently associated with Centaurus Financial LLC has been referenced in a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages supported by allegations that between 2011 and March of 2020: (1) a fiduciary duty that was owed to the customer had been breached (2) transactions executed in the customer’s account had failed to be suitable and (3) misrepresentations were made by the stockbroker. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-01404 (May 11, 2020).

FINRA Public Disclosure reveals that Chiellini has been identified in thirty-seven additional customer initiated investment related disputes concerning accusations of her misconduct when the stockbroker was employed with Centaurus Financial, Cetera Financial Group and J.P. Turner Company. On February 5, 2020, a customer filed an investment related arbitration claim in reference to Chiellini’s conduct where the customer sought $100,000.00 in damages based upon accusations that a fiduciary duty that was owed to the customer by Chiellini had been breached as it pertained to the customer’s investments in corporate debt and certificates of deposit. According to the claim, the investments held in the customer’s J.P. Turner Company account between 2011 and 2020 failed to be suitable. FINRA Arbitration No. 20-00415.

Chiellini is the subject of another customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations of unsuitable securities sales by Chiellini and the breach of a fiduciary duty which led the Cetera Financial Group customer to experience investment losses. FINRA Arbitration No. 20-00498 (Feb. 12, 2020). On February 26, 2020, a customer filed an investment related arbitration claim involving Chiellini’s conduct in which the customer requested $171,000.00 in damages based upon allegations that misrepresentations had been made about the corporate debt and real estate securities held in the customer’s Centaurus Financial account. FINRA Arbitration No. 20-00616. According to the claim, the customer was placed into bad investments and Chiellini breached a fiduciary duty resulting in the customer’s losses.

Chiellini has also been identified in a customer initiated investment related arbitration claim on March 20, 2020 where the customer sought $100,000.00 in damages founded on accusations that from 2008 to 2017, the customer’s assets were unsuitably concentrated in speculative securities including real estate investment trusts and CDs. FINRA Arbitration No. 20-00815. The claim also alleges that the stockbroker’s breach of a fiduciary duty contributed to the customer’s losses. On April 6, 2020, another customer filed an investment related arbitration claim concerning Chiellini’s activities where the customer sought $100,000.00 in damages founded on accusations of Chiellini’s violation of a fiduciary duty as it concerned the customer’s investments. FINRA Arbitration No. 20-01073 (Apr. 6, 2020). According to the claim, investments held by the customer from 2012 to 2020 were misrepresented and unsuitable.

Chiellini has been associated with Centaurus Financial since May 19, 2015.