Red Flags
19
Daniel Mackle
Daniel Mackle, CEO of Silver Edge Financial, has been embroiled in multiple legal and regulatory issues, including SEC charges for unregistered activities, customer lawsuits for unauthorized trading and misrepresentation
Quick summary on Daniel Mackle
Daniel Mackle, the CEO of Silver Edge Financial, has been involved in multiple legal and regulatory issues over the years. Here are some key concerns:
SEC Charges for Unregistered Activities: In 2023, Mackle and Silver Edge Financial were charged by the SEC for engaging in unregistered broker-dealer activities, raising over $65 million without proper registration. This violation led to a financial penalty exceeding $2.5 million, along with industry restrictions.
Customer Lawsuits and Complaints: Mackle has faced several complaints related to unauthorized trading and misrepresentation. In 2021, a customer filed a lawsuit alleging excessive trading, seeking $550,000 in damages. Another complaint accused Mackle of breaching fiduciary duties, leading to a claim for $1.8 million.
Tax Issues: Mackle has had a tax lien filed against him, amounting to $18,071, indicating unresolved financial obligations.
Industry Ban: Following the SEC’s findings, Mackle is banned from engaging in securities-related activities. This includes serving as a broker or investment advisor, with a reapplication restriction for five years.
Past Customer Complaints: He has faced multiple complaints for account mismanagement and unauthorized trading, with one resulting in a $20,000 settlement.
Intel Reports
by: reyansh srivastava
this guy is a total scammer, stole my money and disappeared. don’t trust him at all
by: Anika Pandey
i can’t believe i fell for this guy’s scam. he promised me a legit investment opportunity, but it was all fake. took my money and vanished without a trace. when i tried to get help, he threatened me with legal...