Mark Upchurch: Ex-Centaurus Advisor Faces $500K Bond Complaint

At least one former client of ex-Centaurus Financial advisor Mark Upchurch (CRD# https://brokercheck.finra.org/individual/summary/2937074) is listed as a creditor for an investment in a GWG L Bond, per records filed with a US bankruptcy court. These records detail an investment of $100,000. Financial Industry Regulatory Authority records show that Mr. Upchurch was most recently based in Houston, Texas.

Mr. Upchurch’s BrokerCheck report discloses eight investor complaints. The most recent, filed in July 2022, alleges that as a representative of Centaurus Financial, he recommended an “unsuitable and illiquid” corporate bond investment. The pending complaint alleges damages of $500,000.

A second investor complaint, filed in 2022, similarly alleges that as a representative of Centaurus Financial, he recommended a “risky and illiquid” investment. The pending complaint alleges damages of $50,000.

A third investor complaint, filed in 2022, alleges that he made an “unsuitable, speculative, and illiquid investment” recommendation to invest in a corporate bond. The pending complaint alleges damages of $100,000.

A fourth investor complaint, filed in 2022, alleges that he made misrepresentations of material facts and “recommended illiquid, unsuitable investments” in corporate bond products. The pending complaint alleges damages of $50,000. A fifth investor complaint, filed in 2021, alleged that he misrepresented and recommended unsuitable real estate investments. In 2022 the complaint reached a settlement of $47,500. A sixth investor complaint, filed in 2018, alleged he misrepresented and recommended unsuitable securities. In 2019 the complaint reached a settlement of $17,500.

According to the Financial Industry Regulatory Authority, Mark Upchurch holds 22 years of securities industry experience and is not currently registered as a broker or an investment advisor. His registration history includes Centaurus Financial (Houston, Texas; 2012-2020), Brookstone Securities (Houston, Texas; 2007-2012), Southwest Securities (Houston, Texas; 2006), Citigroup Global Markets (Houston, Texas; 2006), Chase Investment Services (Madison, Ohio; 1999-2006), Chase Securities of Texas (Houston, Texas; 1998-1999), and NatWest Securities Corporation (New York, New York; 1997-1998). His credentials include the passage of five securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. (Information current as of June 1, 2023.)

Carlson Law has represented at least nine investors in claims against their financial advisors for investments in GWG Holdings Inc. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.