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Rita Mansour: Private Placement Complaints Against Toledo Advisor
A pending investor complaint against Toledo financial advisor Rita Mansour (CRD# 1968418) alleges she recommended an unsuitable private placement. Financial Industry Regulatory Authority records show that she is a representative of Mansour Wealth Management at McDonald Partners.
Ms. Mansour’s BrokerCheck report discloses two pending investor complaints against her. The most recent, filed in March 2022, alleges that as a representative of McDonald Partners, she recommended an unsuitable private placement offering for which “insufficient due diligence was conducted” and insufficient disclosures were provided. The pending complaint alleges damages of $100,000.
In a comment on the above disclosure, Ms. Mansour states her belief that the allegations lack merit. “The firm and I conducted reasonable due diligence on the investment before recommending it,” she writes, adding: “I accurately disclosed all material facts regarding the investment, which was entirely suitable based on the customer’s financial profile. The customer signed a Subscription Agreement, wherein the customer acknowledged and agreed to accept the risks associated with the investment.”
The second pending investor complaint against Ms. Mansour was filed in 2020. It alleges that as a representative of McDonald Partners, she did not disclosure “and did not accurately disclose” all material facts relating to a private placement offering, and further that she “did not provide updates and other documents” after the customer made the investment. The pending complaint alleges damages of approximately $250,000. In a comment on the disclosure, Ms. Mansour again states that she believes the claims act merit, adding that she intends “to vigorously defend against all claims.”
The United States Securities and Exchange Commission sanctioned Rita Mansour in 2021, according to a disclosure on her BrokerCheck report. A cease-and-desist order published by the SEC alleges that she she and her employer failed to disclose to investors in a private placement offering that “their point person” at the entity raising the offering had misappropriated roughly $488,331 in investors funds. The offering in question was for an entity raising “bridge funding for the construction of a resort in Montenegro.” After Ms. Mansour and her firm learned of the misappropriation, the SEC found, they “then raised approximately $1.5 million in additional funds through sales of securities” issued by the entity, both to new investors and investors who already held the securities, “without disclosing the misappropriation.” The SEC found that Ms. Mansour “was responsible for recommending and selling these securities.” She was ordered to pay a civil penalty of $40,000 as well as disgorgement of $22,968.75.
Ms. Mansour’s BrokerCheck report discloses three other investor complaints. Two, filed in 2019, allege that she made insufficient disclosures regarding a private offering, settling for a total of $147,500. A third, filed in 2019, alleged that she did not accurate disclose risks and material facts related to a private offering. This complaint evolved into a FINRA arbitration proceeding that concluded with an award to the claimants of $225,000.
According to the Financial Industry Regulatory Authority, Rita Mansour holds 32 years of securities industry experience. Based in Toledo, Ohio, she is a representative of Mansour Wealth Management an McDonald Partners, where she has been registered since 2006. Her past registrations include McDonald Investments, Painewebber, and Shearson Lehman Hutton. She holds 37 state licenses. (Information current as of May 23, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.