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Otto Bohon Jr.: $100K Bond Complaint Against Ex-Centaurus Advisor

At least one former client of former Centaurus Financial advisor Otto Bohon Jr. (CRD# 5677597) is listed as a creditor for an investment in a GWG L Bond, according to records filed with a US bankruptcy court. Financial Industry Regulatory Authority records show that the former Tucson-based advisor has received multiple investor complaints regarding investments in corporate bonds.

Mr. Bohon’s BrokerCheck report discloses a number of recent investor complaints. The most recent, filed in January 2023, alleges that as a Centaurus Financial representative, he “improperly recommended a high-risk and illiquid investment” in a corporate bond product. The pending complaint alleges damages of $100,000.

An earlier investor complaint, filed in 2022, similarly alleged that he recommended “unsuitable, high-risk, and illiquid investments” in real estate products, in which he “overly concentrated” the customer’s assets. The pending complaint alleges damages of $100,000.

A third investor complaint, filed in 2022, alleges that he breached his fiduciary duty and misrepresented material facts relating to an “unsuitable risky investment” in a corporate bond. The pending complaint alleges damages of $50,000.

A fourth investor complaint, filed in June 2022, also alleged misrepresentation, breach of fiduciary duty, and unsuitable corporate bond recommendations. The pending complaint alleges damages of $100,000. A fifth investor complaint, filed in 2022, alleges that he recommended illiquid investments in corporate bonds and real estate products. The pending complaint alleges damages of $100,000.

A sixth investor complaint, filed in 2021, alleged that he recommended the customer invest in “high risk, high commission illiquid” real estate securities between 2014 and 2016. In January 2023 the complaint reached a settlement of $80,000. A seventh, filed in 2020, alleged that he breached his fiduciary duty between January 2017 and March 2020, reaching a settlement of $465,000.

According to the Financial Industry Regulatory Authority, Otto Bohon Jr. holds ten years of securities industry experience and was most recently based in Tucson, Arizona. His registration history includes Centaurus Financial (2012-2020), Wells Fargo Advisors (2011-2012), and Wells Fargo Investments (2009-2011). His credentials include the passage of three securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; and the Uniform Combined State Law Examination, or Series 66. He is not currently licensed as a broker or an investment advisor. (Information current as of June 2, 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.

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