Otto Bohon, a former registered representative with Centaurus Financial, Inc. in Tucson, Arizona, is the subject of multiple customer complaints alleging that he recommended unsuitable, high-risk, and illiquid investments. According to publicly available records and law-firm reports, the alleged misconduct spans from 2012 through 2020, customers claiming damages across multiple complaints, with settled amounts alone totaling more than $7.8 million, tied to real estate products, corporate bonds, and other alternative investments.
The complaints reflect a recurring set of concerns about Bohon placing customers into products that were too risky, too illiquid, and too complex for their stated investment profiles. The investments at issue include real estate securities, corporate bonds, and other alternative investments that allegedly lacked adequate suitability review before being recommended.
What Do Current Disclosures Report About Otto Bohon?
According to FINRA BrokerCheck and multiple independent law-firm reports, Otto Ramon Bohon Jr. (CRD# 5677597) was registered with Centaurus Financial, Inc. (CRD 30833) in Tucson, Arizona from July 20, 2012 to October 2, 2020, and previously with Wells Fargo Advisors (2011 to 2012) and Wells Fargo Investments (2009 to 2011). The SEC Investment Adviser Public Disclosure report confirms he is no longer licensed in either capacity.
His BrokerCheck record reflects multiple customer complaint disclosures spanning a range of alleged misconduct:
- Fiduciary breach and unsuitable recommendations, settled for $3,900,000: A customer alleged that during the period 2012 through 2020, Bohon recommended and misrepresented unsuitable, complex, high-risk, and illiquid investments and breached his fiduciary duty. The case was settled for $3,900,000.
- Fiduciary breach and unsuitable recommendations, settled for $3,900,000: A customer alleged that during the same period, Bohon misrepresented and recommended unsuitable, risky, complex, and illiquid investments and breached his fiduciary duty. The case was settled for $3,900,000.
- GWG L Bond losses: Law-firm reports indicate at least one former client appears as a creditor in U.S. bankruptcy court records for a GWG L Bond investment, and claims have been filed against Centaurus Financial and Modern Wealth Management (formerly Catalina Investments) in connection with alleged GWG L Bond losses involving Bohon.
- Unsuitable corporate bond and real estate investments: Additional complaints allege improper recommendations of high-risk, illiquid corporate bonds and real estate securities, with individual damages claims of $100,000, $100,000, and $350,000.
- Unauthorized trading: A February 2021 complaint alleges Bohon sold four stocks from a discretionary account without the customer’s permission. The customer seeks $25,959.22. Status: pending.
- Breach of fiduciary duty and over-concentration: A September 2020 complaint alleges portfolio over-concentration in alternative investments, with $1,100,000 sought on approximately $465,000 in investments. Closed without action.
- Unsuitable, illiquid investment recommendations: A December 2021 complaint alleges Bohon recommended high-risk, high-commission illiquid investments. The customer seeks $170,000 in damages. Status: pending.
In his FINRA BrokerCheck report, Bohon denies wrongdoing, asserting the allegations lack merit and that the complained-of investments were recommended and executed by a different registered representative.
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What Do Past Regulatory Actions Indicate for Centaurus Financial Investors?
Centaurus Financial has its own history of FINRA disciplinary actions that provide important context here. FINRA records indicate the firm has faced enforcement actions for supervisory failures connected to unsuitable recommendations of illiquid alternative investments, including non-traded REITs, BDCs, and interval funds. In one proceeding, FINRA imposed a censure, a $50,000 fine, and restitution for violations of this kind.
How Meyer Wilson Werning Can Help
The complaints against Otto Bohon describe a consistent pattern of investors placed into products that were too risky and too illiquid for their circumstances, with losses that accumulated over years before any formal action was taken. For investors who held accounts at Centaurus Financial during this period, arbitration is the primary avenue for pursuing recovery. These claims can encompass unsuitable recommendations, unauthorized trading, breach of fiduciary duty, and the firm’s failure to supervise the broker who was handling their accounts.
With more than $350 million recovered for investors nationwide, Meyer Wilson Werning has spent over 25 years holding brokers and brokerage firms accountable for exactly this kind of misconduct. If you suffered losses on investments recommended by Otto Bohon or any other Centaurus Financial representative, contact us today for a free and confidential consultation. You pay nothing unless we recover for you.
Our lawyers are nationwide leaders in investment fraud cases.
Frequently Asked Questions
What is broker Otto Bohon’s CRD number and where did he work?
According to FINRA BrokerCheck, former Centaurus Financial broker Otto Ramon Bohon Jr. has CRD number 5677597 and was registered with Centaurus Financial, Inc. in Tucson, Arizona from July 20, 2012 to October 2, 2020. He was previously registered with Wells Fargo Advisors and Wells Fargo Investments between approximately 2009 and 2012, and he is not currently licensed as a broker or investment adviser.
What customer complaints have been reported against Otto Bohon?
Publicly available records and law-firm reports describe at least nine customer complaints filed between 2020 and 2025, alleging that Bohon recommended unsuitable, high-risk, and illiquid investments, breached his fiduciary duty, and executed unauthorized stock sales. Two complaints were individually settled for $3,900,000 each, several others were settled for smaller amounts, at least one was closed without action, and others remain pending.
What kinds of investments are at issue in complaints involving Otto Bohon and Centaurus Financial?
The complaints center on allegedly unsuitable, high-risk, and illiquid investments, including real estate products, corporate bonds such as GWG L Bonds, and other complex alternative investments. Multiple reports indicate these products carried limited liquidity and high commissions.
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