Moe Azizi: Centaurus Advisor’s Clients Invested in GWG L Bonds

Records filed with a US bankruptcy court disclose that at least two current or former customers of Centaurus Financial advisor Moe Azizi (CRD# 2154719) are listed as creditors for investments in GWG Holdings L bonds and/or preferred stock. The records describe investments of more than $239,000. Financial Industry Regulatory Authority records show that Mr. Azizi is currently based in San Jose, California.

Mr. Azizi’s BrokerCheck report discloses several investor complaints. The most recent, filed in August 2023, alleges that he recommended an unsuitable and high-risk illiquid investment. The pending complaint alleges damages of $100,000. In a statement including with the complaint’s disclosure, Mr. Azizi wrote that he “vehemently” denied wrongdoing and described the allegations as meritless.

A second investor complaint, filed in 2021, alleged that as a representative of Cetera Financial Group and Summit Brokerage Services, he “recommended high commission, complex, risky and illiquid investments.” In 2022 the complaint reached a settlement of $10,000. In a statement included with the complaint’s disclosure, Mr. Azizi wrote that he “was dismissed from this matter” and “made no monetary contribution to the Arbitration Settlement.”

An earlier investor complaint, filed in 2019, alleged that as a Cetera Financial Group representative, he “facilitated unsuitable, high-risk and illiquid investments.” In 2021 the complaint reached a settlement of $30,000. Mr. Azizi noted in a comment included with the complaint that he “was not named in the Arbitration and… made no monetary contribution to the Arbitration Settlement.”

As Investment News reported, Dallas-based financial services company GWG Holdings raised approximately $1.6 billion from investors in its L bond products and later filed for bankruptcy while under SEC scrutiny. If your financial advisor recommended investments in GWG L bonds or preferred stock that were unsuitable for your investment profile, you may have grounds to file a claim for damages. More information about these products is available here.

According to the Financial Industry Regulatory Authority, Moe Azizi holds 31 years of securities industry experience. Based in San Jose, California, he has been a broker and an investment advisor with Centaurus Financial since 2016. His past registrations include Cetera Investment Advisers (San Jose, California; 2015-2016), Summit Brokerage Services (San Jose, California; 2015-2016), JP Turner & Company (San Jose, California; 2002-2015), Global Capital Securities Corporation (Englewood, Colorado; 1993-2002), Kober Financial Group (Englewood, Colorado; 1992-1993), and JW Gant & Associates (1991-1992). 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 Combined State Law Examination, or Series 66. He is licensed in California, Delaware, the District of Columbia, Florida, Georgia, Idaho, Maryland, New York, Pennsylvania, Texas, and Virginia. (Information current as of September 15, 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.