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Stockbroker Fraud Questions & Answers
1 Answer | Asked in Stockbroker Fraud for Tennessee on
Q: How do you sue this company, Pan Chain Inc through Stockwhits to get back investment funds $13558 and profit $49555?

I invested into this scam between 07/2022 and 04/2023 and they refuse to return my initial investment funds of $13558. I was advised to pay $2000 for a withdrawal certificate to make a withdrawal then when it tried to withdraw my funds, I was told I had to pay more money to withdraw my funds. No... Read more »

Anthony M. Avery
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Anthony M. Avery
answered on May 22, 2023

You need an attorney to examine whatever contract, checks, wire transfers, statements, or other documents exist and see what you may be able to do. Jurisdiction may be a serious problem, requiring an attorney to file a Federal or State Suit in a faraway place. It appears that you do not... Read more »

0 Answers | Asked in Stockbroker Fraud for Michigan on
Q: I am from Ohio. I paid for a used table in Facebook market place to person and didn’t pick up. He is refusing to refund

What is the right legal action if I paid $2000 for a table I wanted to buy from a person who has a store online on Facebook marketplace. I failed to pick up because of a problem with the shipping company. No I asked him to refund and he said I cannot refund you.

0 Answers | Asked in Stockbroker Fraud for Texas on
Q: Unfortunately, we invested with a company (A List Partners based out of Austin Texas) back in 2016.

A List Partners sent out a liquidation form letter in 2021 which was signed and completed. We never received our money and they do not respond to phone calls, emails, texts or letters, so I'm left to assume they no longer exist and we lost our investment.

What are our options?

2 Answers | Asked in Stockbroker Fraud, Trademark and Wrongful Death for California on
Q: I am ok with opting in my information now too but I understand the critics I don’t need that though what I need help

Let’s move forwarded pass everything because it’s already done. Also breaks at work 30 mins lunch one hour that should help and more trading if a nurse is high rank in college she should be a teacher and more guidance look I stayed away from politics in 2013 after may5th it just took me to step... Read more »

Dale S. Gribow
Dale S. Gribow
answered on Apr 23, 2023

you must clarify what you are asking.........

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3 Answers | Asked in Stockbroker Fraud for California on
Q: Why are financial advisors still able to steal an elderly persons money and victims are not encouraged to press charges

My inheritance has been stolen or depleted by my mother's financial advisor and his unsavory tactics are now being uncovered. My mother is still alive but her money is gone my inheritance what if any rights do I have to pursue a claim or criminal charges theft is over one million dollars .

James L. Arrasmith
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answered on Feb 26, 2023

Financial exploitation of elders is a serious problem and it is illegal under California law. Under California Penal Code section 368, financial exploitation of elders is a crime that can result in criminal charges and penalties, including imprisonment and fines.

If you believe that your...
Read more »

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1 Answer | Asked in Personal Injury, Identity Theft and Stockbroker Fraud on
Q: Personal damages

I need a personal damages lawyer

Tim Akpinar
Tim Akpinar
answered on Jan 10, 2023

If you need an attorney, it could be difficult for someone here to respond with their services. The format here isn't like an attorney referral service - it's only question & answer. In addition to your own searches, you could use the tab above (Find a Lawyer) or look into the... Read more »

1 Answer | Asked in Stockbroker Fraud for California on
Q: I developed an algorithm for stocks. It tells you which stock to buy and when. Can I publish these trades in an app ?

I do not have any licenses (7, 63, 65). With the appropriate disclaimer, can I publish these trades in app or newsletter for a monthly subscription fee? If no, would the answer change if I was simply listing the trades I made in my own account (as opposed to providing advice) ? ie....not a... Read more »

Kevin Mcbride
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answered on Nov 23, 2022

The question is really whether the activities identified in your question would fall under the Investment Advisers Act of 1940 (15 USC s. 80b, et seq.) which identifies advisory activities in section 202(a)(11) (15 USC 80b-2(a)(11) essentially as follows:

an investment adviser means any...
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2 Answers | Asked in Securities Law and Stockbroker Fraud for Florida on
Q: Broker decided to close my account and sell my securities. They said I broke section 3 of their agreement without detail

Is it legal for a brokerage firm to decide they no longer want to manage my account and sell my securities without my permission. They refused to transfer them to another firm.

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Sep 22, 2022

Yes, it is legal for a brokerage firm to decide that they no longer want your business.

No, it is not legal for the brokerage firm to liquidate your securities unless they have a good reason.

For any more help you will have to retain a lawyer. Search for one using Justia.

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1 Answer | Asked in Banking, Business Formation, Securities Law and Stockbroker Fraud for California on
Q: Can I manage other people's money (money manager or portfolio manager) with only my series 65 license in California?
Steve A. Buchwalter
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Steve A. Buchwalter
answered on Sep 1, 2022

Anyone can allow you to manage their money. There are no requirements for you to do so. Having a business of, or charging for, managing someone else's money can a different story and is more complicated.

2 Answers | Asked in Arbitration / Mediation Law, Banking, International Law and Stockbroker Fraud for Florida on
Q: How do I get a Brazilian arbitration court default judgment enforced in US (Probably Florida)

I'm a citizen of Florida. A Brazilian company I was a partner in was stolen by forging my signature when I was out of the country. That company is now trading on the NYSE (with my forged signature). I sued and won in Brazilian Arbitration Court under UNCITRAL treaty. The judgment was to... Read more »

David H. Relkin
David H. Relkin
answered on Aug 4, 2022

There are a few distinct issues involved in your inquiry: the recognition of a Brazilian Arbitration Award and the attachment of US Company assets. (In order to answer, I will of course assume all the facts you stated are true unless they are contradictory.)

Even before reaching the...
Read more »

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2 Answers | Asked in Securities Law and Stockbroker Fraud for California on
Q: My question pertains to potential breach of fiduciary responsibility by my financial advisor, Merrill Lynch.

I have been a client of Merrill Lynch (ML) for more than 20 years. Not until 3 months ago did any of my advisors at ML ever mention that I should be purchasing US Govt issued iBonds, as part of my portfolio, which in almost every year of my ML relationship have paid a substantially higher return... Read more »

David Neuman
David Neuman
answered on Jul 28, 2022

California law finds that stockbrokers and financial advisors are per se fiduciaries to their clients. Thus, the fiduciary has to act in your best interest first. There are a number of other duties that arise when a stockbroker is a fiduciary, such as keeping their clients abreast on changes in... Read more »

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2 Answers | Asked in Securities Law and Stockbroker Fraud for New York on
Q: Financial investment question

I currently have access to a crypto investment fund through an individual who trades to make a group of us money, and I want to open it up to friends and have them go through me in order to invest. I pay $200/mo to have access to the fund, so I would charge them $100/mo and have them go through me.... Read more »

Chris Warren
Chris Warren
answered on Jun 16, 2022

This response does not constitute legal advice.

Yes. If you take your friends' money for access to an "investment fund" an "individual" (read: not a broker) runs, you could be violating several securities laws as well as potential "blue sky" State laws....
Read more »

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1 Answer | Asked in Federal Crimes, Identity Theft, Securities Law and Stockbroker Fraud for Nevada on
Q: Rollover IRA checks mailed to the wrong PO BOX by OneAmerica and were electronically deposited by someone else.

Back in October, I started a rollover IRA with my previous employer’s retirement services company, OneAmerica. Unfortunately, OneAmerica sent the checks (payable to Fidelity FBO w my name on them) to an incorrect PO BOX (1 number off). These checks were electronically deposited by the owner of... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Dec 29, 2021

You may have more trouble getting your rollover IRA money back than you had hoped. Why?

Because it was deposited electronically (without prejudice) and credited to some unknown person's account at Wells Fargo Bank, N.A., which is notorious for holding onto money not supposed to be...
Read more »

1 Answer | Asked in Stockbroker Fraud for Arkansas on
Q: I trade options at my online broker. A bad trade yesterday that cost me $8000.00 due to a mistake by my broker.

I made an options call purchase on the 16th at market price. The seller was asking .20 cents per contract (100 shares) After putting in several limit orders in for up to .24 cents that were rejected I put in a market order which normally fills within a percent or so of the asking. When my order was... Read more »

David Mark Gaba
David Mark Gaba
answered on Dec 30, 2021

Have you reviewed your entire contract with your broker-dealer? Depending on the specific language they may have been within their rights to fill your order.

2 Answers | Asked in Stockbroker Fraud for Michigan on
Q: I have a digital currency account through a platform named coinbase.

About 6 weeks ago they blocked led my account due to someone other than me trying to access it. I have contacted them several times. The first time they emailed me back with some generic help to open my account back up. That did not work now they wont email me back despite the several emails I have... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Aug 13, 2021

Depending upon the amount of money involved it might be possible to fix this situation--by hiring a very experienced lawyer who has a commercial banking background to "run interference" for you.

If the lawyer you hire is experienced enough to know how to convince the bank's...
Read more »

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1 Answer | Asked in Criminal Law, Identity Theft and Stockbroker Fraud on
Q: I have been scammed by Toptrade.group

Good day,

I'm writing to complain about possible scam by toptrade group. I just realized that I have been scammed after I requested for withdraw of some of the profits I made during trading.

I have deposited in total amount $7,001.59 usd and after several tradings and... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick
answered on Jul 1, 2021

What you just did is called "locking the barn after the horses have been stolen."

As you found out, "Top Trade" is a well-known world-wide scam of the finest kind. The Good news is that you only lost your initial deposit of $7,000.

Standard advice for novice...
Read more »

1 Answer | Asked in Business Law, Securities Law and Stockbroker Fraud for New Jersey on
Q: Can an execution-only company operate without a broker license? Handling the execution of copying securities trades
Leonard R. Boyer
Leonard R. Boyer pro label Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jun 23, 2021

There is no legal trading of any securities without a valid license for the appropriate security. If you do not have the right license for example to trade futures, and you do, then you have a serious problem. Don't do it!

2 Answers | Asked in Criminal Law, Federal Crimes, Identity Theft and Stockbroker Fraud for California on
Q: Who investigates false documents and fraud done to the deceased

Yeah because I have reason to believe that my father's name was changed my mother's name was changed and then they made everything look that way now people are benefiting from everything that's written on the story and then it appears that my father and my mother the identity was... Read more »

Joseph Abrams
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answered on Jun 20, 2021

Most fraud offenses can be investigated by either local or federal authorities. If you have evidence of a criminal fraud or identity theft, you can begin by reporting that evidence to either your local police department of FBI field office.

- Law Office of Joseph Abrams, Anaheim, CA

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