Michael Mandarino: GWG Complaint Against Apollo Beach Advisor

Michael Mandarino (CRD# 4443175), a broker and an investment advisor with G.A. Repple & Company, has received an investor complaint concerning GWG L bonds. Financial Industry Regulatory Authority records show that the financial advisor is based in Apollo Beach, Florida. 

Mr. Mandarino’s BrokerCheck report discloses one investor complaint against him. Filed in June 2022, the complaint alleges that he recommended investments in GWG Holdings bonds. The pending complaint alleges unspecified damages believed to exceed $5,000.

An April 2022 article by the Wall Street Journal describes GWG Holdings as an alternative asset manager based in Dallas. The company reportedly sold a product known as L bonds, “which pooled money from bond investors to purchase life-insurance policies on the secondary market,” repaying debts with payouts on the policies. The company raised approximately $1.6 billion “mostly from individual investors,” according to the report, before filing for Chapter 11 bankruptcy. As a The DI Wire report notes, GWG Holdings stated in its bankruptcy filings that it was under investigation by the Securities and Exchange Commission. The regulator was reportedly scrutinizing “how bonds were sold by brokers.” More information on GWG L bonds, and whether they may have been unsuitable investments for some investors, is available here. 

According to the Financial Industry Regulatory Authority, Michael Mandarino holds 20 years of securities industry experience. Based in Apollo Beach, Florida, he has been a broker and an investment advisor with G.A. Repple & Company since 2017. His past registrations include Intervest International Securities (Apollo Beach, Florida; 2006-2017) and First Command Financial Planning (2001-2006). His credentials include the passage of six securities industry examinations: the Investment Company Products/Variable Contracts Principal Examination, or Series 26; the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He holds 76 state licenses. (Information current as of July 27, 2022.)

Carlson Law represents several investors involved in GWG L bond claims against financial advisors and investment firms throughout the United States. If you or a loved one have suffered losses investing in GWG L bonds, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.