Chad Mackland, Formerly of Lion Street Financial, Barred by FINRA Following Refusal to Provide Information

FINRA was investigating Mackland regarding criminal felony charges filed against him.

Chad Mackland (CRD#:4933804) was registered as a broker with Lion Street Financial from 2018 until 2020. Previously, Mackland was registered as a broker with MML Investors Services from 2017 until 2018.

Mackland has five disclosures on his BrokerCheck report.

March 2021 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Mackland consented to the sanction and to the entry of findings that he failed to provide documents and information requested by FINRA in connection with its investigation of an amended Form U5 filed for Mackland, that disclosed that criminal felony charges were pending against him for, among other things, theft and fraudulent sales practices.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All capacities
• Duration: Indefinite
• Start Date: 3/23/2021

April 2020 Criminal Judgment

• Status: Pending Charge
• Charges: Fraudulent Sales Practices under $10,000.
• Charges: Fraudulent Sales Practices over $10,000.
• Charges: Theft in the First Degree by deception
• Charges: Commit Fraudulent Sales Practices, Theft, or fraudulent practice, and act for financial gain on a continuing basis, that is punishable as an indictable offense.

April 2020 Customer Dispute

• Status: Pending
• Allegations: The firm received a FINRA Dispute Resolution Arbitration alleging the representative churned the customer’s accounts, recommended unsuitable transactions, made fraudulent, false, and misleading representations, communications, and transactions and breached his fiduciary duties.
• Damage Amount Requested: $2,871,000.00

September 2018 Employment Separation After Allegations

• Firm Name: MassMutual
• Termination Type: Discharged
• Allegations: Terminated in connection with misrepresentation to customers related to traditional life insurance policies
• Broker Comment: Reason for termination will be further evaluated.

August 2016 Employment Separation After Allegations

• Firm Name: Northwestern Mutual Investment Services LLC
• Termination Type: Voluntary Resignation
• Allegations: Registered representative resigned while under internal review for questions relating to his sales practices. The investigation is ongoing.
• Broker Comment: I was not permitted to resign, I resigned. There was no so-called investigation in process when I resigned on 08/01/2016.

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding Chad Mackland. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.