GMS Group’s Paul Mante Allegedly Misrepresented Bonds

Paul David Mante (CRD#: 4911949, Boca Raton, Florida) is a GMS Group LLC securities representative with a number of customer complaints on his record. Specifically, Paul Mante disclosed through Financial Industry Regulatory Authority (FINRA) that at least 8 GMS Group LLC customers have complained about his sales practices. Customers have collectively claimed that Paul Mante made unsuitable recommendations and misrepresentations. See the following summary of his customer dispute disclosures:

January 9, 2018 Arbitration

 
A GMS Group LLC customer filed a FINRA Arbitration #17-03504 on December 28, 2017. In the statement of claim, the customer alleged that Paul Mante misrepresented risks or other information concerning Puerto Rico bonds purchased by the customer. Paul Mante reportedly made those misrepresentations regarding the municipal-debt products from 2014 to 2017. Allegedly, Paul Mante’s misrepresentations led the customer to purchase the investments. As a result, the customer is seeking $1,000,000.00 in compensation. This is a pending matter.

January 3, 2018 Arbitration

 
A customer of GMS Group LLC brought FINRA Arbitration #17-03431 on January 3, 2018. Allegedly, Paul Mante “negligently recommended” for the customer to buy Puerto Rico bonds. Secondly, the customer contended that Paul Mante made false or misleading representations about the risk factors involved in investing in those bonds. All things considered, The GMS Group LLC opted to settle the customer’s matter on November 26, 2018 by paying the customer $13,500.00.

September 19, 2011 Complaint

 
A customer of The GMS Group LLC filed a complaint with the firm on September 19, 2011 about Paul Mante’s sales practices. Particularly, the customer claimed that Paul Mante made unauthorized purchases of a corporate bond in the customer’s account. Allegedly, Paul Mante purchased the bond for the customer’s account without the customer’s permission. Because of this, the customer requested compensation of $10,086.77. However, GMS Group LLC denied the customer’s allegations.

October 7, 2008 Complaint

 
On October 7, 2008, a GMS Group LLC customer filed FINRA Arbitration #11-03617. According to the customer, Paul Mante was negligent in his actions regarding the customer’s investments. Also, he allegedly misrepresented characteristics of a municipal debt investment when the customer bought the security. Because of Paul Mante’s alleged misrepresentation and negligence, on October 16, 2012, GMS Group, LLC provided the customer $7,800.00. However, the firm settled the matter without any admission of liability.

Investors that have experienced losses by investing with Paul David Mante should contact Soreide Law Group at (888) 760-6552 and speak with experienced counsel about a possible recovery of investment losses. Soreide Law Group represent clients on a contingency fee basis and advance all costs. The firm has recovered millions of dollars for investors who have suffered losses due to misconduct of brokers and brokerage firms.