Rosca Scarlato LLC law firm attorneys are currently investigating Chad Mackland (also known as Chad Thomas Mackland) in the wake of criminal charges leading up to his alleged bar by several regulators, as reported on his FINRA Brokercheck page, under review by securities lawyer Alan Rosca.
Alan Rosca and the team of securities lawyers at the Rosca Scarlato LLC law firm are investigating conduct related to Chad Mackland’s criminal charges that are allegedly related to his bar by FINRA, Iowa Insurance Commissioner and the Securities and Exchange Commission (“SEC”).
Investors who are concerned they may have suffered a loss with Mackland are encouraged to contact attorney Rosca for a free, no-obligation consultation and discussion of potential options, or to provide any useful information by calling 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.
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FINRA Barred Chad T Mackland for Alleged Refusal to Provide Requested Documents
As reported in FINRA’s Letter of Acceptance, Waiver and Consent (AWC),i FINRA sent a request to Mackland in January 2021 to produce information and documents in connection with pending criminal charges against Mackland.
Mackland’s Brokercheck page reports multiple pending criminal charges including one charge of fraudulent sales practices under $10,000, another charge of fraudulent sales practices over $10,000, a third charge of theft in the first degree by deception, and a fourth charge of fraudulent sales practices, theft, or fraudulent practice, an act for financial gain on a continuing basis, that is punishable as an indictable.
On February 4, 2021, Mackland allegedly requested an extension of time to provide the requested information and documents in connection to the pending criminal charges and by the end of February 2021, Mackland allegedly states that he will not produce the information and documents requested by FINRA, as alleged in the AWC.
As a result of Mackland’s alleged misconduct he accepted a sanction including a bar from associating with any FINRA member firm in all capacities.
Former broker Chad T. Mackland signed the AWC accepting and consenting to FINRA’s findings, without admitting or denying the findings, and solely for the purposes of the proceeding brought by or on behalf of FINRA, prior to a hearing and without an adjudication of any issue of law or fact.
Mackland Barred by the Iowa Insurance Commissioner and the SEC
In July 2021, without admitting or denying the findings, Chad T Mackland consented to the entry of an order barring him from applying for registration as an investment adviser or a securities agent revoking his insurance producer license. According to Iowa regulator’s findings, Mackland allegedly engaged in dishonest and unethical actions in insurance business and failed to report his criminal prosecution,.
As a result, on September 30, 2021, the SEC entered an administrative order barring Chad Thomas Mackland from, among others, association with any broker, dealer, and investment adviser.
Chad Thomas Mackland the Subject of a Customer Dispute Disclosure
A customer filed a dispute in April 2020 alleging churning, unsuitable transactions, fraudulent, false, and misleading representations, communications, and transactions and breach of fiduciary duties, as reported on Mackland’s Brokercheck page.
The customer was seeking $2,871,000 for the alleged damages and agreed to conclude the dispute for $1,200,000.
Mackland Was Registered with FINRA for 13 Years
According to Mackland’s FINRA Brokercheck page, he joined the securities industry in 2005 and switched employers three times. Chad Mackland was previously employed with Lion Street Financial located in Council Bluff, Iowa from December 2018 until February 2020.
He was also employed with MML Investor Services located in Omaha, Nebraska from March 2017 until September 2018. Mackland was reportedly discharged from the firm on allegations of misrepresentations to customers related to traditional life insurance policies.
In addition, Mackland was employed with Northwestern Mutual Investment Services located in Omaha, Nebraska from Mat 2005 until August 2016. Mackland’s Brokercheck page reports he voluntarily resigned while under internal review for questions relating to his sales practices.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Securities Lawyers May Be Able to Help
The investor attorneys of the Rosca Scarlato LLC law firm advise and represent investors who are victims of broker or investment-related fraud and other misconducts and are currently investigating Chad Mackland in the wake of multiple alleged criminal charges leading up to his bar by FINRA.
The firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Investors concerned about their investments with Chad T Mackland may contact attorney Alan Rosca or his colleagues for a free, no-obligation evaluation of their potential options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.