Frank Mazzola Allegedly Sold Securities while Unregistered; Mazzola Operated Saddle River Advisors, an Entity which Allegedly Raised over $53 Million from Investors in Pre-IPO Tech Firms

Frank Mazzola allegedly sold securities while operating as an unregistered representative, according to an SEC report currently under review by investor right attorney Alan Rosca.

Attorney Alan Rosca, of the RoscaLaw LLC firm, is investigating Felix Investments, LLC & Frank Mazzola’s alleged securities sales by an unregistered representative.

Investors who believe they may have lost money in activity related to Felix Investments, LLC & Frank Mazzola’s alleged securities sales by an unregistered representative are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

In sum, SRA allegedly raised sums from investors totaling over $53 million in early-to-late-stage, pre-IPO technology companies, most of which  are based in the Silicon Valley Area, according to the SEC’s Complaint.

Frank Mazzola, of Upper Saddle River, N.J., who in March 2014 accepted a fine and industry ban to settle an SEC fraud case involving the now-defunct Felix Investments, was reportedly registered as a rep of Felix Investments from 2009 to 2014, the SEC reports.

Frank Mazzola Has Been Barred by the SEC

Saddle River and SRA Management allegedly made promises to investors stating that their investment monies would be used strictly to purchase shares in the specific pre-IPO companies they were interested in and that they would pay specific fees, according to the aforementioned report under review by attorney Alan Rosca.

In truth, however, Mazzola’s uncle John Bivona, a member of the New York state bar, allegedly sent the “lion’s share”, or approximately $2.7 million in investor money, to his nephew Frank Mazzola and his wife, the SEC reports.

Hence, as a result of the aforementioned alleged behavior, Mazzola has been barred by the SEC, the SEC notes.

Mazzola also allegedly worked as the manager of Saddle River Advisors, or SRA, a group which purportedly advised pooled investment vehicles, the SEC reports.

Mazzola allegedly worked in uninterrupted association with Saddle River and Felix Investments and allegedly participated in the offer and sales of securities after he had been barred for three years by the SEC in 2014 and also a permanent bar issued by FINRA at that time, the SEC notes.

Furthermore, Mazzola also reportedly headed up SRA Management, which was purportedly the managing member and an adviser to aforementioned three pooled investment vehicles, the SEC alleged.

Securities Lawyer Investigating

The RoscaLaw firm represents investors who lose money as a result of investment-related fraud or misconduct and is currently investigating Frank Mazzola and Felix Investments, LLC’s alleged sales of securities by an unregistered broker. The firm takes most cases of this type on a contingency fee basis and advance 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, and has helped recover tens of millions of dollars on behalf of investors.

Investors who believe they lost money as a result of Frank Mazzola and Felix Investments, LLC’s alleged sales of securities by an unregistered broker may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options via phone at 888-998-0530, email at arosca@roscalaw.com, or through the contact form on this webpage.

filed under: Investigations

In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.