Mark Isidore Lamendola (Mark Lamendola), Financial Advisor/Broker Mark Lamendola Barred from Securities Industry
Mark Isidore Lamendola (Mark Lamendola), Financial Advisor/Broker Mark Lamendola Barred from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses
Mark Lamendola was a previously licensed financial advisor/broker with World Capital Brokerage, Inc. in Cranberry Township, Pennsylvania. FINRA reports that Mark Lamendola was barred from the securities industry in January 2019.
ACCORDING TO FINRA: Mark Lamendola consented to the sanction and to the entry of findings that he made misrepresentations to a customer by fabricating letters that purported to come from an annuity company regarding the status of the customer's deposit, which, at the time of his fabricated letters, had not been corrected. The findings stated that Markl Lamendola wrote in each letter that the incorrect deposit was re-deposited into the correct account and the transaction was not reportable to the Internal Revenue Service. Mark Lamendola had mistakenly deposited the customer's IRA contributions into his variable annuity account rather than his fixed annuity account. After the customer verbally complained about the error, Mark Lamendola attempted to have the deposits redirected to the proper account. The findings also stated that Lamendola paid $15,999.55 to the customer to settle his verbal complaint regarding the mistaken IRA deposits. However, Mark Lamendola did not notify his member firm of the customer's complaint nor his payment of funds to the customer to resolve the complaint. The findings also included Lamendola altered the customer and his wife's complaint letter to remove references to his prior settlement away from the firm in order to conceal his prior settlement from the firm. Mark Lamendola then sent the altered complaint letter to the firm's compliance department causing it to maintain inaccurate books and records.
FINRA also reports that a customer dispute involving Mark Lamendola’s conduct is currently pending. Claimants allege negligence, unsuitability, over-concentration, misrepresentation/omissions, failure to supervise, breach of contract, violation of the PA unfair trade practices and consumer protection laws & breach of fiduciary duty. FINRA reports alleged damages of $139,739.84.
If you lost money on investments with Mark Lamendola and believe the investments may have been unsuitable or otherwise improper for you, we would like to discuss the possibility of your retaining our firm to represent you in an arbitration action concerning Mark Lamendola’s conduct. There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.
Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA, has practiced in this area of the law for more than 35 years. Goodman & Nekvasil, P.A. has recovered more than $180 million on behalf of victimized investors. If you lost money on investments with Mark Lamendola and would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us.
Mark Lamendola, Financial Advisor, Broker, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, SEC, Financial Advisor, Broker, Mark LamendolaBack to Blogs