Goodman & Nekvasil P.A., May Recover Investor Losses – David Matthew Mansour (David Mansour) Barred from Securities Industry and Fired by Frost Brokerage Services, Inc.
From 2001 until David Mansour’s firing in 2014, David Mansour was licensed with Frost Brokerage Services, Inc. According to FINRA’s records, David Mansour was fired by Frost Brokerage Services, Inc. on June 4, 2014. Frost Brokerage Services, Inc. reported to FINRA that David Mansour was accused of violating FINRA By-Laws and FINRA Rule 2010 by failing to notify the Firm of a U4 disclosure event.
Subsequent to David Mansour’s firing by Edward Jones. FINRA investigated David Mansour and brought a disciplinary action against David Mansour. David Mansour was barred from the securities and investment banking industry on February 14, 2017. FINRA reports that David Mansour consented to the sanction and to the entry of findings that David Mansour, without the authority to do so, and without advising anyone at a bank affiliated with David Mansour’s member firm of David Mansour’s actions, agreed on behalf of the bank for it to become the successor trustee of a trust. The findings stated that David Mansour’s actions circumvented the established procedures at the bank for the review and acceptance of new trust relationships. According to FINRA, David Mansour executed documents on behalf of the bank, in its capacity as a trustee, but was not authorized by the bank to execute documents on its behalf. In addition, according to FINRA, in executing these documents, David Mansour falsely represented that David Mansour was an “assistant vice president and trust officer” of the bank. According to FINRA, David Mansour was never an appointed trust officer at the bank. The findings also stated that David Mansour willfully failed to timely update David Mansour’s Form U4 to timely disclose an event that was required to be disclosed.
FINRA reports that a complaint was filed involving David Mansour’s conduct with Frost Brokerage Services, Inc., alleging that throughout David Mansour’s tenure with Frost Brokerage Services, Inc., David Mansour appeared to have misrepresented David Mansour as a bank-appointed trust officer of Frost Bank to [Customer]. Frost Brokerage Services, Inc. reported to FIRNA that the complaint alleged that in the process of transferring this business to Frost Brokerage Services, Inc., David Mansour changed the ownership of certain trusts’ monies to that of an intended beneficiary. This complaint settled for $248,299.
If you lost any money on investments with David Mansour, you may be able to recover your losses from Frost Brokerage Services, Inc. This is because Frost Brokerage Services, Inc. had a duty to supervise David Mansour.
If you lost money on investments with David Mansour 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 against Frost Brokerage Services, Inc. concerning David Mansour’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 $300 million on behalf of victimized investors. If you lost money on investments with David Mansour 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.
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