Last Updated: April 2024 (Toledo, Ohio)
Rita Mansour Investigation Summary
Here’s what you need to know about Toledo, OH, stockbroker Rita Mansour:
- Name: Rita Mansour
- Current Employer: McDonald Partners
- DBA: Eden Rock Montenegro
- Previous Firms: McDonald Investments, Painewebber Incorporated
- Function: Stock Broker/ Financial Advisor/ Registered Investment Advisor
- Aliases: None
- Primary Location: Toledo, Ohio
- CRD 1968418
- Can Rita Mansour be sued in FINRA arbitration: Yes
- Sanctioned by Securities Regulator: Yes
- Highest Settlement or Award: $262,500
- Pending Customer Dispute Seeks Damages of $425,,900
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Rita Mansour As Your Stockbroker?
In 2021 the U.S. Securities & Exchange Commission (SEC) assessed Rita Mansour with fines and penalties of $44,884 and order disgorgement of $22,968 in connection with the sale of two pooled investment vehicles (PIVs). The PIVs offered and sold securities to raise bridge funding for the construction of a resort in Montenegro causing her employer to violate Sections 17(a)(2) and (3) of the Securities Act and 206(4) of the Advisers Act and Rule 206(4)-8 thereunder.
In FINRA arbitration 19-0440, Mansour was the subject of a customer complaint related to the sale of Eden Rock Montenegro. She was found jointly and severally liable for $160,000 damages.
Three other customer disputes related to the sale of private placement offerings by Mansour were settled for amounts of $82,500, $175,000 and $262,500.
In 2/2024 a customer of McDonald Partners filed a FINRA arbitration alleging that Mansour recommended an unsuitable investment in a private placement offering in 2013 and 2014. The customer alleges that Mansour did not accurately disclose all material facts in connection with the private placement offering and is seeking damages of $425,900. The matter is currently pending.
[LEARN MORE]: Firms Have a Duty to Supervise their Financial Advisors (FINRA Rules 3110 & 2090)
Brokers and their firms have a duty to comply with the FINRA suitability rule which requires that they have a reasonable basis to believe that a recommendation is suitable for the customer.
[LEARN MORE]: FINRA Rule 2111- suitability
Allegations of Broker Misconduct Against Rita Mansour
Customers of Rita Mansour have alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation to invest in private placement
- Failure to disclose all material facts in connection with the sale of a private placement
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by Rita Mansour, contact us for a complimentary consultation with an experienced securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
