Robert Charles Mangold Permanently Barred by FINRA

Allegedly provided false information to FINRA during investigation

For Robert Charles Mangold, it seems it is the end of the line in the securities industry. Most recently employed by and registered with LPL Financial, LLC, Mangold is now permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public by FINRA.

How did this happen? Let’s take a look: In June 2013, LPL Financial, LLC terminated Mangold’s registration because he allegedly borrowed $56,000 from two customers – a violation of firm policy. This prompted FINRA to investigate the circumstances of his termination. As part of the investigation, FINRA requested a signed statement in response to the allegations.

Here’s where it gets interesting: In July 2013, Mangold provided FINRA a signed statement that included the claim that he had sent a check to one of the customers, and he included a copy of the purported check to support his statement. However, it was determined that Mangold never sent such a check to the customer and that his statement was false. It was determined that Mangold misled FINRA staff in the course of its investigation.

In October 2014, Mangold – without admitting or denying the findings – consented to the sanction and entry of findings. As a result, in March 2015, he was barred permanently by FINRA. Was he sanctioned monetarily, as well, you ask? The answer is no – due to his bankruptcy status. Yes, Mangold had been performing as a financial advisor while he himself was personally bankrupt.

Why is this important to you?

Well, if you’re an investor who has suffered financial loss at the hands of Robert Charles Mangold – or any other financial advisor – you need to know your rights. You may be able to recover your losses through securities arbitration. A securities fraud attorney with proven expertise in recovering lost funds can help you in this situation.

With Silver Law Group you’ll find experienced securities attorneys committed to helping recover investment losses due to stockbroker misconduct. With lawyers admitted to practices in New York and Florida – representing investors nationwide – you can expect a complimentary consultation and a case handled on a contingent fee basis, meaning you don’t pay legal fees unless Silver Law Group is successful. Contact us today to schedule your free consultation and discuss your legal rights.