Call Now For a Free Consultation:
(614) 532-4576
Nationwide Representation

Meyer Wilson Attorneys Investigate Allegations Involving Former David Lerner Broker Michael Thomas Lombardo

Stockbroker fraud lawyers at Meyer Wilson are currently looking into claims involving Michael T. Lombardo stealing money from clients and making unsuitable recommendations. 

Michael Thomas Lombardo (CRD# 4091665) was a broker at David Lerner Associates' Westport, Connecticut office from September 2002 until March 2014. In September 2014, he pled guilty to one count of wire fraud (United States v. Lombardo) and also admitted to defrauding more than 20 of his David Lerner clients, stealing more than $190,000 of their money for his own use. In response, the SEC permanently disbarred Lombardo from practicing securities (Read the SEC order against Lombardo).

According to FINRA,

“Lombardo consented to the sanction and to the entry of findings that he misappropriated funds from a customer of his member firm by forging the customer’s signature on an IRA distribution request form. The findings stated that Lombardo took delivery of the IRA disbursement check, forged the customer’s signature on the check and converted the funds to his own use. Lombardo also converted additional funds from other firm customers.”

It also revealed some other disclosure events in Lombardo's history as a registered broker. In December 2012, while working for David Lerner, Lombardo was accused of unsuitability involving real estate securities. The case was settled in September 2013 for $35,000. In 2008, also while Lombardo was at David Lerner, he was accused of mutual fund misrepresentation and unsuitability.

Was Michael Thomas Lombardo your broker? If you lost a substantial amount of money on your investments due to Lombardo's alleged misconduct, contact an investment fraud attorney at Meyer Wilson to evaluate any potential claims. Our firm helps defrauded investors recover their losses, and last year alone, we were able to recover more than $29 million for our clients in investor claims and class actions. Contact us today for a free review of your case.

The information contained in The Firm’s posts on its blog, fraud alerts, investigations or elsewhere on the site is based upon information obtained from other sources including, but not limited to, news outlets and federal, state, and regulatory agency filings. All suspects and subjects of postings herein are presumed innocent until proven guilty in a court of law or administrative action and any and all crimes are alleged until a court or regulatory agency finds otherwise .

Share This Story
If you found the information provided by this article useful, consider sharing to your social media channels to help others in their search for reliable resources.
Consult with Our Legal Team
There is never a cost associated with a consultation
Atlanta Office

945 East Paces Ferry Road, Suite 2275
Atlanta, GA 30326
Columbus Office

614-224-6000
305 W. Nationwide Blvd
Columbus, OH 43215
Meyer Wilson
New Orleans Office

900 Camp Street 
Suite 337
New Orleans, LA 70130
Los Angeles Office

310-905-8688
2029 Century Park East,
Suite 400N
Los Angeles, CA 90067
Cleveland Office

216-600-1355
4781 Richmond Rd.
Suite 400
Warrensville Heights, OH 44128
Bloomfield Hills Office

248-817-8214
41000 Woodward Ave.,
Suite 350
Bloomfield Hills, MI 48304
Quick Links
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter. No recipients of content from this site, clients or otherwise, should act or refrain from acting on the basis of any content included in the site without seeking the appropriate legal or other professional advice on the particular facts and circumstances at issue from an attorney licensed in the recipient's state. Read More
The information contained in this Website is provided for informational purposes only, and should not be construed as legal advice on any subject matter.
Read More
chevron-down linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram