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Michael Di Pietro: Centaurus Advisor Denies $100K Complaint
A recent investor complaint against Pasadena financial advisor Michael Di Pietro (CRD# 2811047) alleges that he provided misleading information regarding high-risk investments. Records provided by the Financial Industry Regulatory Authority show that he is currently a broker and an investment advisor with Centaurus Financial.
Mr. Di Pietro’s BrokerCheck report discloses two investor complaints. The most recent, filed in April 2023, alleges that as a representative of Centaurus Financial, he “misrepresented speculative, high-risk investments” in equipment leasing and real estate securities. The pending complaint alleges damages of $100,000.
In a statement included with the pending complaint’s disclosure, Mr. Di Pietro defended himself against the allegations. “I vehemently deny any wrongdoing and assert that the allegations are completely without merit,” he wrote in part, adding: “The investments about which the customers complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after their review of all material documentation related to the investment.”
An earlier investor complaint, filed in 2012, alleged that as a representative of First Allied Securities, he violated state and federal securities laws, engaged in unfair, unlawful, and fraudulent business practices, breached contract, breached his fiduciary duty, and acted negligently. In 2013 the complaint reached a settlement of $550,000.
According to the Financial Industry Regulatory Authority, Michael Di Pietro holds 20 years of securities industry experience. Based in Pasadena, California, he has been a broker and an investment advisor with Centaurus Financial since 2018 and 2019, respectively. His past registrations include TransAmerica Financial Advisors (Pasadena, California; 2014-2015), Centaurus Financial (Monrovia, California; 2009-2014), First Allied Securities (Pasadena, California; 2005-2008), Royal Alliance Associates (Jersey City, New Jersey; 2002-2005), World Group Securities (Duluth, Georgia; 2002), and WMA Securities (Duluth, Georgia (1999-2002). His credentials include the passage of eight securities industry qualifying exams: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Non-Member General Securities Examination, or Series 2; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; the Uniform Securities Agent State Law Examination, or Series 63; the Uniform Investment Adviser Law Examination, or Series 65; and the Uniform Combined State Law Examination, or Series 66. He is licensed in California. (Information current as of May 20, 2023.)
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