Boise, ID asked in Stockbroker Fraud for Idaho

Q: Edward Jones has placed a 10 day hold on a very large cash amount that I deposited in a portfolio account.

I would like to withdraw a portion of it but was told it needs to be held there for ten days due to possible money laundering???

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1 Lawyer Answer
Ross B. Intelisano
Ross B. Intelisano
PREMIUM
Answered
  • Stockbroker & Investment Fraud Lawyer
  • New York, NY

A: It depends on what your customer agreement states. Most firms have broad discretion to hold onto funds if there are AML issues. You may want to be very active with your broker to find out what is happening.

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