Michael Mandel – Financial Advisor/Broker Suspended from Securities Industry | May Recover Investor Losses

Michael Mandel – Financial Advisor/Broker Suspended from Securities Industry | Goodman & Nekvasil P.A., May Recover Investor Losses

Michael Mandel a/k/a Michael Walter Mandel CRD # 4939165

Michael Mandel a/k/a Michael Walter Mandel was a licensed financial advisor with LPL FINANCIAL LLC.  Michael Mandel was discharged from LPL FINANCIAL LLC on January 19, 2022.

LPL Allegations:  Mandel solicited and introduced customers and non-customers to investment into a Firm-unapproved company, without prior notice to or approval from Firm.

According to an SEC Complaint, the unapproved company was 6 Degree Tequila, LLC.  The Securities and Exchange Commission charged Joseph Cimino of Warwick, New York, the founder and former managing member of 6 Degree Tequila, LLC, with conducting a fraudulent securities offering and misappropriating investors’ funds for personal use.

According to FINRA:  Mandel participated in private securities transactions by soliciting 18 investors, seven of whom were firm customers, to invest a total of approximately $815,000 in a tequila production company. Starting in approximately May 2014, and continuing until at least October 2016, Mandel invited investors to promotional events for the company, introduced them to the company’s founder, and provided investors with documents regarding the opportunity to invest. Mandel received $5,635.35 from the tequila company and expected to receive a portion of the founder’s equity in the company.

Goodman & Nekvasil, P.A. May Recover Investor Losses:

If you lost money on investments with Michael Mandel and believe the investments may have been unsuitable, unapproved 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 Michael Mandel’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 almost 40 years. Goodman & Nekvasil, P.A. has recovered more than $250 million on behalf of victimized investors. If you lost money on investments with Michael Mandel 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.

Some of the information in this blog post was obtained on 3/4/22 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.

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