Ricky Alan Mantei of Lexington South Carolina a stockbroker and branch manager of Centaurus Financial Inc. (also known as JP Turner Company) is the subject of a customer initiated investment related arbitration claim in which the customer requested $100,000.00 in damages based upon allegations that (1) a fiduciary duty that was owed to the customer had been breached and that (2) the customer’s assets had been allocated in bad real estate security and corporate debt investments by a stockbroker under Mantei’s supervision. Financial Industry Regulatory Authority (FINRA) Arbitration No. 20-00498 (Feb. 12, 2020).
FINRA Public Disclosure confirms that Mantei has been identified in twenty-nine more customer initiated investment related disputes concerning accusations of his misconduct while employed by securities broker dealers including JP Turner Company, Cetera Financial Group and Centaurus Financial. On November 25, 2019, a customer filed an investment related arbitration claim concerning Mantei’s activities where the customer sought $109,000.00 in damages founded on accusations that the customer’s account failed to be adequately supervised by Mantei. According to the claim, the customer was placed into unsuitable investments including corporate debt and a real estate security by the Centaurus stockbroker. Misrepresentations were allegedly made by the stockbroker in regard to those transactions. FINRA Arbitration No. 19-03445 (Nov. 25, 2019).
On November 26, 2019, a customer filed an investment related arbitration claim pertaining to Mantei’s conduct in which the customer requested $140,000.00 in damages supported by allegations including that the branch manager misrepresented real estate securities which were in no way suitable for the customer. FINRA Arbitration No. 19-03435. Mantei is the subject of another customer initiated investment related arbitration claim in which the customer requested $50,000.00 in damages based upon allegations of the branch manager’s misrepresentations with regard to corporate debt and certificates of deposit that had been sold to the Centaurus Financial customer. FINRA Arbitration No. 19-03446 (Nov. 27, 2019).
On February 5, 2020, another customer filed an investment related arbitration claim involving Mantei’s activities in which the customer requested $100,000.00 in damages based upon allegations of the breach of fiduciary duty and the sale of unsuitable investments between 2011 and 2020. FINRA Arbitration No. 20-00415.
FINRA Public Disclosure reveals that on August 1, 2019, Mantei was charged by FINRA with violating the regulator’s rules by evading J.P. Turner Company’s prohibition on prearranged trading. Department of Enforcement v. Ricky Alan Mantei Disciplinary Proceeding No. 2015045257501. FINRA alleged that Mantei’s conduct was violative of MSRB Rule G-17 and FINRA Rule 2010.
On September 25, 2019, Colorado Division of Securities brought an enforcement action against Mantei in which the Division is seeking that Mantei be barred based upon allegations that the stockbroker possibly violated securities laws of the State of Colorado. Regulatory Action No. XY 2019-016. Mantei allegedly failed to supervise transactions effected in Colorado residents’ accounts which resulted in the sale of unsuitable investments.
Mantei has been registered with Centaurus Financial since May 19, 2015.
