Tampa, FL asked in Banking and Securities Law for Florida

Q: How serious is it if somebody who has a series 7 license opens an account in my mine and then cashes out the profits?

I have discovered that my spouse forged my signature to open an investment account in my name and then cashed out and I don't know where the money went. Is this something I should report to his employer? The company in which is opened the account?

So far I discovered he opened an account with Fidelty (without my knowledge, and took out 6K out of my IRA) and then later opened an account with chase schwab without my knowledge and took out 8K+

This just feels really wrong and shady. He won't discuss this with me at all. All requests for background have gone unanswered

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1 Lawyer Answer
Bruce Alexander Minnick
Bruce Alexander Minnick
Answered
  • Business Law Lawyer
  • Tallahassee, FL
  • Licensed in Florida

A: This is called stealing. And if the person who did the stealing is a licensed security salesperson there are several more crimes being committed. You need to START with the company; and you must tell them everything--not just the stuff you do not like.

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