Former California-based Girard broker Richard Manchester has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Manchester (CRD# 1388336).
Richard Manchester has spent 25 years in the securities industry and was most recently registered with Girard Securities in Laguna Beach, California (2004-2010). Previous registrations include Sentra Securities in Phoenix, Arizona; SII Investments in Appleton, Wisconsin; Royal Alliance Associates in New York, New York; Financial Investment Network in El Segundo, California; MTL Equity Products in Downers Grove, Illinois; and Pruco Securities in Newark, New Jersey. He is currently not registered with any state or firm.
According to his BrokerCheck report, Richard Manchester is the subject of one regulatory sanction, six customer complaints, and one pending customer complaint.
In January 2015 a customer alleged stockbroker Richard Manchester, while employed at Girard Securities, acted negligently, made unsuitable recommendations, and misrepresented material facts related to an investment. The customer is seeking $915,000 in damages in the pending complaint.
In 2013 FINRA permanently barred Richard Manchester following allegations, among others, he engaged in the unauthorized use of private offerings proceeds by lending offerings proceeds to other private entities.
In 2013 a customer alleged Richard Manchester, while employed at Girard Securities, failed to disclose conflicts, breached his fiduciary duty, and made false and misleading statements and representations. The complaint settled in 2014 for $281,000.
In 2013 a customer alleged Richard Manchester, while employed at Girard Securities, committed fraud, breached his fiduciary duty, negligently misrepresented material facts, breached his contract, and committed elder abuse. The complaint settled in 2014 for $252,693.
In 2013 a customer alleged Richard Manchester, while employed at Girard Securities, made unsuitable recommendations, deliberately concealed or failed to disclose conflicts, and made false or misleading statements and representations. The complaint settled in 2014 for $42,500.
In 2010 a customer alleged Richard Manchester, while employed at Girard Securities, recommended unsuitable investments in Ridgewood Energy O Fund LLC, Ridgewood Energy N Fund LLC, Waveland Drilling Partners-A, and One Hanover Park LLC. The complaint settled in 2012 for $379,293.
If you or someone you know has lost money investing with Richard Manchester, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: you will only pay Fitapelli Kurta if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.
This information based on public records published by the Financial Industry Regulatory Authority (FINRA) on March 15, 2016