The claim is brought on behalf of a family-run business’s profit sharing plan (PSP), and seeks monetary damages.
Investment Losses With Cindy Chiellini and Ricky Mantei
Our clients didn’t know much about investing, but they needed to grow their account for retirement. They were introduced to brokers Cindy Chiellini and Ricky Mantei in J.P. Turner’s South Carolina office. After J.P. Turner collapsed in 2015, Chiellini and Mantei moved to Centaurus Financial and our clients moved with them.
Unfortunately, the claimants allege the relationship proved disastrous. Chiellini sold claimant esoteric and volatile structured products that were unsuitable and too risky for their goals. As their investments declined in value, the brokers gave them false assurances and urged them not to sell. The total of value of their portfolio declined by 36% and hundreds of thousands of dollars.
The securities arbitration claim alleges unsuitability, breach of fiduciary duty, negligence, breach of contract, and failure to supervise, and seeks compensatory damages, punitive damages, and interest.
Cindy Chiellini And Ricky Mantei Subject Of Many Customer Disputes
The clients represented in this FINRA arbitration claim are far from the only investors who have losses with Cindy Chiellini and Ricky Mantei. Chiellini’s BrokerCheck report lists 13 customer disputes in the last year alone, many alleging unsuitable recommendations.
Ricky Mantei’s BrokerCheck report lists 10 disclosures, all customer disputes. Many of Mantei’s customer disputes also allege unsuitable recommendations. One pending dispute requests $1,000,000 in damages.
Recovering Investment Losses
If you have investment losses with Cindy Chiellini, Ricky Mantei, Centaurus, JP Turner, you may have a claim to recover your losses. We take most cases on a contingency fee basis, which means it won’t cost you anything out of pocket to have us work on your case.
Silver Law Group represents the interests of investors who have been the victims of investment fraud. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Silver Law Group represents investors in securities arbitration claims in South Carolina. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.