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???

Related Topics:
1 Lawyer Answer
Ross B. Intelisano
Ross B. Intelisano
  • 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.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.