Rita Mansour – Financial Advisor/Broker Under Investigation by the SEC | Goodman & Nekvasil P.A. May Recover Investor Losses
Rita Mansour is a licensed financial advisor with McDonald Partners LLC.
According to Rita Mansour’s Brokercheck report, a customer dispute has been filed alleging sales practice violations involving Rita Mansour. Rita Mansour discloses that her other business activities include Eden Rock Montenegro LLC and Signature Investments Montenegro.
Customer Dispute 12/14/21: Claimant alleges Ms. Mansour did not disclose, and did not accurately disclose, all material facts in connection with Claimant’s investment in a private placement offering and did not provide updates and other documents after Claimant made the investment. This customer dispute is pending and seeks $250,000 in damages.
According to Rita Mansour’s report, Mansour is also under investigation by the SEC.
According to the SEC:
These proceedings arise out of Respondent’s sales of securities in connection with private securities offerings conducted by two pooled investment vehicles that Respondent’s employer advised (the “PIVs”). Those PIVs offered and sold securities to raise bridge funding for the construction of a resort in Montenegro. Investor monies raised through these offerings were to be used to purchase debt in a Montenegrin entity that was to construct the resort. Between September 2013 and continuing through January 2017, Respondent’s employer offered and sold more than $14 million in securities issued by the PIVs to investors located in the United States, including both its brokerage customers and its advisory clients. In October 2016, Respondent and Respondent’s employer became aware of allegations that their point-person at the Montenegrin entity had misappropriated $488,331 of investor funds2 by misusing a debit card belonging to that entity to pay for certain personal expenses. After being confronted with the allegations that this individual had misappropriated funds from the Montenegrin entity, he conceded that he was not entitled to certain of the funds alleged to have been misappropriated. Accordingly, after negotiation, the individual agreed to repay approximately $335,000 that he had allocated to personal expenses.
Neither Respondent nor Respondent’s employer disclosed the misappropriation to existing investors in October 2016. In early 2017, Respondent’s employer then raised approximately $1.5 million in additional funds through sales of securities issued by PIV2 to both existing security holders and new investors, including brokerage customers and advisory clients, without disclosing the misappropriation to those investors. Respondent was responsible for recommending and selling certain of these securities. By this conduct, Respondent caused her employer to violate Sections 17(a)(2) and (3) of the Securities Act and Sections 206(2) and 206(4) of the Advisers Act and Rule 206(4)-8 thereunder.
Goodman & Nekvasil, P.A. May Recover Investor Losses
If you lost any money on investments with Rita Mansour, you may be able to recover your losses. If you lost money on investments with Rita Mansour and believe that 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 Rita 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.
Goodman & Nekvasil, P.A. has recovered more than $200 million on behalf of victimized investors. If you lost money on investments with Rita 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.
Some of the information in this blog post was obtained on 12/14/21 directly from FINRA BrokerCheck, without any changes. If you believe this information was reported incorrectly, please contact our firm at 1-800-500-4442.