Colorado Sues Radio Financial Radio Talk Host

Marc Mandel

Colorado Securities Commissioner Gerald Rome has filed a civil complaint against Marc Mandel of Boulder and his Wall Street Radio Inc., also known as Winning on Wall Street, alleging that Mandel is acting as an "unlicensed investment advisor."

The Denver Business Journal reports the Colorado Attorney General's Office filed the complaint in Denver District Court on Oct. 30 on behalf of Rome.

The complaint alleges that Mandel, who operates in Boulder under the nickname "the Wizard," is acting as an unlicensed investment advisor representative by operating his Winning on Wall Street (WOWS) website, in which he solicits and accepts membership fees in exchange for providing investment advice and facilitating trading activity.

Mandel denies the claims, and said he "never" claimed to be an investment advisor.

The complaint alleges that Mandel charged membership fees in exchange for providing investment advice via two membership plans: auto-trading or a "Master Education Package."

Mandel can be heard in metro Denver from 4 to 5 p.m. weekdays on KRCN 1060 AM. His company's website also lists broadcasts on stations in Atlanta; Boca Raton, Fla.; Boston; and Phoenix.