Mark Isidore Lamendola Allegedly Made Misrepresentations to a Client by Fabricating Letters that Purportedly Come from an Annuity Company Regarding a Customer’s Deposit

Mark Lamendola allegedly made misrepresentations to a customer by fabricating letters that purported to come from an annuity company regarding the status of the customer’s deposit, which, at the time of his purportedly fabricated letters, had not been corrected, according to a Pending Regulatory Action disclosed on Lamendola’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

Said Regulatory Action was filed on January 11, 2019 on Mark Lamendola’s FINRA BrokerCheck Report.

Said findings reportedly stated that Lamendola wrote in each letter that the purportedly incorrect deposit was re-deposited into the correct account and the transaction was not reportable to the IRS, FINRA notes.

Lamendola had also allegedly mistakenly deposited the customer’s IRA contributions into his variable annuity account rather than his fixed annuity account, FINRA notes, and after the customer reportedly made verbal complaints about the error, Lamendola purportedly attempted to have the deposits redirected to the proper account.

Lamendola also allegedly paid $15,999.55 to the customer to settle his verbal complaint regarding the purportedly mistaken IRA deposits, but Lamendola allegedly did not notify his member firm of the customer’s complaint nor his payment of funds to the customer to resolve the complaint.

Securities attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Mark Lamendola’s alleged misrepresentations regarding an annuity. Investors who believe they may have lost money in activity related to Mark Lamendola’s alleged misrepresentations regarding an annuity are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Mark Lamendola Barred by FINRA

Mark Lamendola, based on the alleged aforementioned behavior, has been barred indefinitely by FINRA starting on January 11, 2019, FINRA reports.

Lamendola, without admitting or denying the findings, allegedly consented to the sanction and to the entry of findings that he made misrepresentations to a customer, FINRA notes.

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 mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related misconduct and are currently investigating Mark Lamendola’s alleged misrepresentations regarding an annuity. 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.

Investors who believe they lost money as a result of Mark Lamendola’s alleged misrepresentations regarding an annuity may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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