Rita Mansour Subject of SEC Fine
Rita Mansour (CRD #: 1968418), a broker registered with McDonald Partners, is the subject of an SEC fine, according to her BrokerCheck record, accessed on February 23, 2022. Investors should also be aware of multiple investor settlements and FINRA award.
The SEC fined Rita Mansour following allegations regarding her sales of securities in connection with private securities offerings conducted by two pooled investment vehicles. These investments raised money to fund the construction of a resort in Montenegro. In October 2016, the SEC alleges that Rita Mansour became aware that a point-person in Montenegro had misappropriated $488,331 of the investor funds. After negotiation, the individual allegedly returned $335,000 of the misappropriated funds that he had set aside for personal expenses. She allegedly continued to sell securities for this pooled investment vehicle without disclosing the misappropriation. Under SEC rules, brokers are not allowed to omit material facts when they recommend pooled investment vehicles.
The SEC fined Rita Mansour $40,000 and ordered her to return $22,968.75 to investors.
On October 31, 2020, an investor alleged that Rita Mansour did not disclose all material facts in connection with a private placement and did not provide updates after the customer made the investment. The investor is seeking $250,000; the dispute is pending.
There is a similar dispute on her record. On December 24, 2019, an investor alleged that Rita Mansour recommended an unsuitable investment and made insufficient disclosures about the investment. The investor sought $100,000; the dispute settled for $65,000.
Investors alleged on September 30, 2019, that Rita Mansour did not provide sufficient information regarding the source of funds raised for a contingency offering. She also allegedly did not provide accurate information regarding the status of the underlying project. The investor sought $250,000; the dispute settled for $82,500.
On February 8, 2019, Rita Mansour was the subject of an investor’s complaint alleging fraud. FINRA awarded the investor compensatory damages of $160,000. You can read a copy of the award here.
Rita Mansour has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 31 Futures Managed Funds Examination
- Series 7 General Securities Representative Examination
- Series 8 General Securities Sales Supervisors Examination (Options Module & General Module)
He is a registered broker in 34 states and is a registered investment adviser in California, Ohio, and Texas.
Rita Mansour has worked with the following firms:
- Painewebber Incorporated (CRD #: 8174)
- Shearson Lehman Hutton (CRD #: 7506)
Kurta Law Can Help
If you have worked with Rita Mansour and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or email@example.com for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.