MICHAEL MANDEL of LPL SUSPENDED for Tequila Investment Sales

Israels & Neuman, PLC

Michael Mandel, Former LPL Financial and Royal Alliance Advisor, Suspended From Securities Industry for Selling Tequila Investments

UPPER SADDLE RIVER, NEW JERSEY

Have you lost money with Michael Mandel of LPL Financial and Royal Alliance? In 2021, the U.S. Attorney’s Office for the Southern District of New York brought a criminal complaint against Joseph Cimino. Cimino was alleged to have defrauded investors in his tequila company, called 6 Degree. Cimino pleaded guilty to the fraud in November 2021.

FINRA recently brought a regulatory complaint against Michael Mandel, from Upper Saddle River, New Jersey. FINRA alleged that Michael Mandel raised over $800,000 for Cimino’s 6 Degree tequila company, but that he failed to disclose his involvement to his former brokerage firms, Royal Alliance and LPL Financial. To settle these allegations, Mandel agreed to a seven-month suspension, a $5,000 fine, and disgorgement of $5,635.

Michael Mandel had been a representative of LPL Financial from December 2015 to February 2022, and with Royal Alliance from 2008 to December 2015. The alleged sales of the 6 Degree tequila company took place between May 2014 and October 2016. Mandel had worked in offices in Upper Saddle River and Old Tappan, New Jersey.

Click to view: Mandel, M FINRA AWC

Click to view: Mandel, M BrokerCheck 3.2.22

Click HERE to read more on Joseph Cimino Tequila Fraud

If you lost money with Michael Mandel, Royal Alliance, or LPL Financial, contact the law firm of ISRAELS & NEUMAN at (720) 599-3505 or (206) 795-5798 for a Free evaluation of your case.

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