ELIZABETH, NEW JERSEY

The securities and investment fraud law firm of Israels & Neuman is continuing to look into allegations made against Mario Rivero. Earlier this week, Mario Rivero from Elizabeth, New Jersey, was arrested at his home. He is alleged to have stolen over $500,000 from customers of his former brokerage firms, Wells Fargo and LPL Financial and has been charged with wire fraud and investment advisor fraud.

In 2021, FINRA, the Financial Industry Regulatory Authority, brought a regulatory action against Rivero. FINRA barred him after he failed to respond to an investigation. Rivero was being investigated after two customers made allegations against him, which triggered an internal investigation by Wells Fargo.

Mario Rivero, Jr. was a financial advisor and registered representative of Wells Fargo from 2010 to September 2020. He was also with LPL Financial from September 2020 to May 2021. He worked at a branch office in Elizabeth, New Jersey.

Wells Fargo and LPL Financial have a responsibility to adequately supervise their representatives. When firms fail to adequately monitor their registered representatives, they may be liable for investment losses sustained by customers.

Israels & Neuman PLC represents investors throughout the country, including investors in New Jersey and New York. We have represented investors against Wells Fargo and LPL Financial in the past.

Click to view: Rivero, m FINRA AWC

Click to view: Rivero, m BrokerCheck 6.7.21

If you lost money with Mario Rivero, LPL Financial or Wells Fargo, please Contact Us at (720) 599-3505 for a free evaluation of your case.