Fera Shivaee Allegedly Sold Unsuitable Bond

Fera Shivaee (CRD# 2271590[1]), a broker registered with Centaurus Financial, recommended an unsuitable and complex investment, according to an investor dispute. MDF Law is investigating the Laguna Niguel, California-based financial professional for similar conduct. Investors with concerns should contact us immediately for a free consultation.

To learn more about the allegations against Ms. Shivaee, continue reading. This post is based on her Financial Industry Regulatory Authority (FINRA) BrokerCheck record, accessed on November 14, 2023.

Pending Dispute Seeks 6-Figure Damages

On August 31, 2023, an investor lodged a dispute involving Ms. Shivaee. The claim alleged that in early 2020, she recommended an “unsuitable, complex, high-risk, illiquid” corporate bond investment. It also alleges that she breached her fiduciary duty to the client. The dispute, which remains pending, seeks $100,000 in damages.

Fera Shivaee Denies Allegations

Ms. Shivaee defended herself against the pending dispute in a “Broker Statement” appended to its disclosure. “I vehemently deny any wrongdoing and assert that the allegations are completely without merit,” she asserted, according to her BrokerCheck record. “The investments about which the customer complained were suitable and were recommended based on the customer’s objectives, goals and financial circumstances and were offered only after her review of all material documentation related to the investment.” 

The statement also claims that the customer confirmed their understanding of the investment’s characteristics and risks. “At all times,” Ms. Shivaee asserted, “I put the customer’s interest first and I will vigorously defend this matter to the fullest extent of the law.”

Past Dispute Alleged Fraud, Negligence

On October 4, 2013, an investor filed a dispute alleging that Ms. Shivaee recommended unsuitable real estate investment trusts, or REITs. The claim also alleged that she breached her fiduciary duty, failed to conduct due diligence, breached contract, made misrepresentations and omissions of material facts, and committed securities fraud. These allegations evolved into an arbitration proceeding before a FINRA panel, which issued an award to the claimant of $642,421.

Shivaee Denied 2013 Dispute

“The registered representative denies any wrongdoing and believes that the claimant’s allegations are without merit,” Ms. Shivaee wrote in a “Broker Statement” appended to the 2013 dispute’s disclosure, according to FINRA. “[The claimant] was well aware of the nature of the [tenant-in-common] investment, as the funds used to invest were the proceeds from the sale of another TIC she had purchased through her previous broker. Furthermore, it was claimant who desired to reinvest the proceeds with the same company.”

FINRA: Shivaee Based in Laguna Niguel, California

Fera Shivaee launched her career as a broker in 1993, when she registered with Mariner Financial Services in Largo, Florida. Over the following years, she worked at firms including Finance 500 and SunAmerica Securities. She joined her current member firm, Centaurus Financial, in 1997. She has remained there since, working out of the firm’s office in Laguna Niguel, California. With 30 years of experience as a broker, she has completed two state securities law exams, four general industry/products exams, and two principal/supervisory exams. 

Contact MDF Law for a Free Consultation

MDF Law’s team of dedicated broker fraud attorneys have recovered millions in investment losses for their clients. We accept cases on contingency, meaning you only pay a fee if you collect lost funds. We currently offer free consultations to investors across the US. If you lost money working with Fera Shivaee, call 800-767-8040 to speak with an attorney today.