Goodman & Nekvasil P.A, May Recover Investor Losses – Robert Charles Mangold Fired by LPL Financial, LLC
From 2012 until Robert Mangold’s firing in 2013, Robert Mangold was licensed with LPL Financial, LLC. Robert Mangold was previously licensed with Financial Network Investment Corporation. According to FINRA’s records, Robert Mangold was fired by LPL Financial, LLC on May 29, 2013. LPL Financial, LLC reported to FINRA that Robert Mangold violated firm policy by borrowing money from an individual.
Subsequent to Robert Mangold’s firing by LPL Financial, LLC, FINRA investigated Robert Mangold and brought a disciplinary action against Robert Mangold. Robert Mangold was suspended from the securities and investment banking industry for 60 days. Robert Mangold consented to the sanction and to findings that Robert Mangold solicited and received loans of $56,000 from two customers. The findings stated that both of Robert Mangold’s member firms prohibited its registered representatives from borrowing money from customers.
FINRA also reports that subsequent to Robert Mangold’s firing by LPL Financial, LLC, and Robert Mangold’s suspension by FINRA, FINRA further investigated Robert Mangold and brought a second disciplinary action against Robert Mangold. Robert Mangold was permanently barred from the securities and investment banking industry on March 31, 2015. Robert Mangold consented to the sanction and to FINRA findings that in the course of FINRA’s investigation that led to FINRA issuing an AWC finding that Robert Mangold violated FINRA rules when Robert Mangold solicited and received loans of $56,000 from customers, Robert Mangold provided false information to FINRA in response to a FINRA Rule 8210 request letter. The findings stated that Robert Mangold’s member firm filed a Form U5 terminating Robert Mangold’s registration for borrowing money from a client in violation of firm policy. The findings state that FINRA thereafter began an investigation into the circumstances surrounding Robert Mangold’s termination and issued the Rule 8210 request to Robert Mangold that also requested a signed statement in response to the allegations. Hence, according to FINRA, Robert Mangold provided FINRA a signed statement in which he stated, in part, that he sent a check in the amount of $15,000 to one of the customers. FINRA reports that, as support for that statement, Robert Mangold attached a copy of the purported check made out to the customer as Exhibit A to his statement. In fact, according to FINRA, Robert Mangold never sent such a check to the customer and the statement was false. According to FINRA, Robert Mangold thereby misled FINRA in the course of its investigation.
FINRA reports that an arbitration claim was filed involving Robert Mangold’s conduct with Financial Network Investment Corporation, LPL Financial, LLC, and/or Cetera Advisor Networks, LLC., alleging mismanagement of accounts, unsuitability, negligent supervision, common law fraud, and/or violation of New Jersey Securities Law and Statutes. This claim was settled for $160,000. FINRA also reports that a previous complaint involving Robert Mangold’s conduct was settled.
If you lost any money on investments with Robert Mangold while Robert Mangold was employed with LPL Financial, LLC and/or Financial Network Investment Corporation, you may be able to recover your losses from LPL Financial, LLC and/or Financial Network Investment Corporation. This is because LPL Financial, LLC and Financial Network Investment Corporation had a duty to supervise Robert Mangold.
If you lost money on investments with Robert Mangold 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 LPL Financial, LLC and/or Financial Network Investment Corporation concerning Robert Mangold’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 $170 million on behalf of victimized investors. If you lost money on investments with Robert Mangold 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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