WARNING! Impending Investigation–MICHAEL T. LOMBARDO and DAVID LERNER ASSOCIATES, INC.
Michael T. Lombardo and David Lerner Associates, Inc.
Have you lost money with financial advisor Michael T. Lombardo of Westport, Connecticut? We are investigating allegations made by the Securities and Exchange Commission (SEC) against Michael T. Lombardo, who previously was affiliated with David Lerner Associates, Inc. Lombardo pled guilty to wire fraud back in September 2014. He is alleged to have taken approximately $190,000 from 20 different David Lerner Associates customers’ accounts. Michael Lombardo is now barred by the SEC from the securities industry.
Michael T. Lombardo was a financial advisor and registered representative of David Lerner Associates Inc. from 2002 to March 2014. Lombardo worked at a branch office in Westport, Connecticut.
Brokerage firms like David Lerner Associates have a responsibility to adequately supervise all representatives who are registered through their firm. Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies. When brokerage firms fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Our attorneys have represented hundreds of investors who have been defrauded by their financial advisor or stockbroker. While we have offices in Denver and the Seattle area, we have also previously represented clients on the East Coast against David Lerner Associates. If you have lost money with Michael T. Lombardo or David Lerner Associates Inc. and want to hear about ALL legal options, please visit https://www.israelsneuman.com and go to our CONTACT page or call us at 720-599-3505.
Click here to view SEC ORDER instituting proceedings: Lombardo SEC AWC
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