Ricky Mantei, Former J.P. Turner Broker, Subject of Finra Complaint Alleging Violations of Firm’s Supervisory Policy

Executed trades between J.P. Turner customers.

Sonn Law is investigating Former J.P. Turner Broker Ricky Mantei. We represent investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 866–827–3202, or complete our contact form for a free consultation.

Ricky Alan Mantei (CRD# 1098981) is a currently registered broker and investment advisor. Since 2015, Mr. Mantei has been a registered representative with Centaurus Financial based in Lexington, South Carolina. Prior to his registration with Centaurus, Mr. Mantei was employed by J.P. Turner & Company from 2010 to 2015.

A complaint filed with the FINRA Office of Hearing Officers on August 1, 2019, alleges that while he was with J.P. Turner, Mr. Mantei circumvented the firm’s supervisory system in order to execute trades between J.P. Turner customers.

The complaint explains that under the firm’s written supervisory policy, Mr. Mantei was required to identify these transactions as “cross-trades” on the order tickets. Mr. Mantei allegedly avoided these requirements by arranging a third-party to buy the investment being sold by the first customer. This third-party would then sell the investment back to J.P. Turner. At that point, Mr. Mantei would facilitate the purchase of the same investment from J.P. Turner by the second customer.

Mr. Mantei’s alleged actions, according to the complaint, amount to violations of FINRA Rule 2010 and MSRB Rule G-17. It also requests that the FINRA Department of Enforcement order one or more sanctions against Mr. Mantei, including disgorgement of any ill-gotten gains plus interest as a result of his alleged misconduct.

Mr. Mantei’s BrokerCheck report reveals 12 other disclosures, all of them customer disputes dating back to 1995. Several of these are still pending.

Mr. Mantei has been in the securities industry since 1983, where he started with Merrill Lynch. More recently, he was employed by Gunnallen Financial (2008–2010) and First Allied Securities (2000–2008).

Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.