AG Alan Wilson announces $650,000 settlement with Centaurus Financial, Inc.

Attorney General Alan Wilson announced a $650,000 settlement has been reached with Centaurus Financial, Inc., Ricky Mantei, and Mantei & Associates, LLC following allegations they violated state securities laws.

COLUMBIA, S.C. (WOLO)— Attorney General Alan Wilson announced a $650,000 settlement has been reached with Centaurus Financial, Inc., Ricky Mantei, and Mantei & Associates, LLC following allegations they violated South Carolina securities laws.

According to a press release, Broker-dealer Centaurus Financial, Inc., of Anaheim, California, its agent, Ricky Mantei, and his company, Mantei & Associates, LLC, of Lexington, South Carolina were ordered to pay the penalties after conducting sales of complex structured securities products and sales of certain unlisted bonds.

Centaurus agreed to put forth policies and procedures that will require additional review of senior investor’s accounts to maintain compliance with securities laws.

The company will maintain a compliance supervisor for its Lexington branch.

Mantei agreed to step down as a supervisor or compliance officer at Centaurus.