GMS Group Financial Advisor Paul Mante Has Eight Customer Complaints, Including Two Pending Complaints Regarding The Sale Of Puerto Rico Bonds
The Wolper Law Firm is currently investigating claims against Paul Mante, a Financial Advisor at GMS Group in Boca Raton, FL. Paul Mante first entered the securities industry in 2005.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Paul Mante has been the subject of eight (8) customer complaints for alleged sales practice violations.
https://brokercheck.finra.org/individual/summary/4911949#disclosuresSection
Most recently, in 2018, Paul Mante has been the subject of two customer complaints involving the sale of Puerto Rico municipal bonds. Puerto Rico has been in a recession since 2006 and its economic and fiscal status deteriorated incrementally each year until its bond market ultimately collapsed in 2013. Since 2013, Puerto Rico municipal bonds have continued to deteriorate and ultimately defaulted. The island is in the process of restructuring the outstanding bonds, which may leave investors with pennies on the dollar.
In January 2018, two customers filed customer complaints against Paul Mante relating to the sale of Puerto Rico municipal bonds. The first complaint alleged “broker negligently recommended and misrepresented the safety of the Puerto Rico bonds” and alleged damages of $40,000. The second complaint alleged “misrepresentation of Puerto Rico bonds for the period of May 2014 through to December 2017.” Both matters remain pending.
In addition, Paul Mante has been the subject of several more customer complaints during his career, including the following:
- March 2016—Customer alleged “poor performance.” Alleged damages were $35,000.
- September 2011—Customer alleged “unauthorized purchase of a corporate bond…” Alleged damages were $10,086.
- August 2009—“Client alleges the account executive made an unsuitable recommendation.”
- October 2008—“Client alleges negligence and misrepresentation concerning a security…”
The Wolper Law Firm has extensive experience handling Puerto Rico bond cases. Matt Wolper has handled hundreds of these cases since the collapse in 2013. If you or someone you know was a customer of Paul Mante or the GMS Group and you experienced investment losses, please contact the Wolper Law Firm at 800.931.8452 or by email at mwolper@67.43.6.64 to discuss your specific situation and the legal options available. The Wolper Law Firm represents investors nationwide in securities litigation and arbitration.
