Todd Morris Mezrah, of Tampa, Florida, a stockbroker registered with M Holdings Securities Inc., has been fined $10,000.00 and suspended for twenty days from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Mezrah provided misleading and promissory statements to prospective customers. Letter of Acceptance, Waiver, and Consent, No. 2019062775801 (October 17, 2023).
According to the AWC, between March and April of 2017, he sent 14 emails to 16 investors, discussing an opportunity to invest in a real estate property. These communications violated FINRA Rule 2210(d)(1) by failing to provide a fair, balanced presentation of investment risks. According to FINRA, Mezrah’s emails did not address any potential risks, including the speculative nature of the investment and the possibility of losing the entire investment.
Furthermore, the emails from Mezrah included promissory, misleading, and unwarranted statements. They suggested unrealistic growth in income and misleadingly implied that he had the authority to raise rents, positioning him misleadingly as a lower cost provider. FINRA found that his statements were misleading, as they gave an unwarranted impression of the investment’s potential and control.
Additionally, Mezrah’s emails contained prohibited performance projections, like expected cash on cash returns and other performance data, violating FINRA Rules 2210 and 2010.
Mezrah was associated with M Holdings Securities Inc. in Tampa, Florida, from December 19, 2001, to May 7, 2020. On April 16, 2020, M Holdings Securities Inc. discharged Mezrah based upon allegations that Mezrah did not follow the securities broker dealer’s policies and procedures concerning outside business activities.
Mezrah has been associated with Lion Street Financial LLC and Lion Street Advisors LLC in Tampa, Florida, since May 4, 2020, and September 10, 2020, respectively.
