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Stockbroker Fraud Questions & Answers
1 Answer | Asked in Stockbroker Fraud for Texas on
Q: Problem with investment group. Need to get money owed but SEC involved. Now what?

Have a contract with group. Hired a lawyer previously, but because amount owed was below $150,000, they did not advise to pursue through court. How do I get my money?

Richard  Frankowski
Richard Frankowski answered on Jun 7, 2021

You should look at the contract you have with your investment group. Most firms include an arbitration provision in their contracts. If your firm is regulated by the Financial Industry Regulatory Authority (FINRA), you likely will have to pursue any claims in a FINRA arbitration. I hope this... Read more »

1 Answer | Asked in Federal Crimes, Stockbroker Fraud and Trademark for Louisiana on
Q: Can you sue Robinhood for outages during an all-time high on funds for fraudulence activity and negligence, if any more?

Recently I invested $1000 into Dogecoin as it was at its lowest of 0.19 and just today this cryptocurrency has just reached its all-time high of 0.60. And because of the surge of this high buying for Dogecoin, Robinhood's crypto services went out and I couldn't sell nor buy during this... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 5, 2021

Sure, anyone can sue anyone else; so f you have $400,000 I am sure you can find a bunch of security lawyers willing to try to slay a giant. But you need to forget about "bribery" and "string-attached manipulation."

1 Answer | Asked in Criminal Law, Civil Litigation, Securities Law and Stockbroker Fraud for New York on
Q: Do I have civil or criminal liability if I unknowingly referred someone to an investment that turned out to be a scam?

The person I referred lost money. I did not receive any money from the person I referred or the investor.

Tim Akpinar
Tim Akpinar answered on Mar 26, 2021

There are attorneys on this board who are knowledgeable in securities-related matters who could best advise, but your post remains open for two weeks. As a GENERAL premise, for someone to be liable for scamming or defrauding someone, it usually has to be shown that they had an intent to deceive or... Read more »

1 Answer | Asked in Securities Law and Stockbroker Fraud for Kansas on
Q: Is it legal for a stock brokerage to restrict the purchase of stock? I can sell, but not purchase. Market manipulation?

I was able to buy this particular stock in the pre-hours, but once the market closed I was unable to purchase more of the identical stock. I can, however, sell my already purchased stock (at a loss). How is this not someone choosing to make me a loser by locking me in where I am?

No... Read more »

Ross B. Intelisano
Ross B. Intelisano answered on Jan 29, 2021

It depends on what your customer agreement states. Often the agreements provide broad discretion for the firms to limit purchases of stocks.

1 Answer | Asked in Stockbroker Fraud for California on
Q: i hired a moving service to bring my stuff from miami to san diego and so far since december 1st they haven't shown up
Maurice Mandel II
Maurice Mandel II answered on Jan 28, 2021

First, this is not "Stockbroker Fraud". If you do not select the correct category, then attorneys that handle that kind of case do not get a notice. Next, Moving companies are federally licensed, you should look up your company on the internet and you will find out a lot about them,... Read more »

3 Answers | Asked in Securities Law and Stockbroker Fraud for Illinois on
Q: Is it illegal for me to give a friend my login credentials for my brokerage account and have him trade for me?
Samuel B. Edwards
Samuel B. Edwards answered on Nov 17, 2020

It is not "illegal" to share your login credentials, but it is likely a violation of your brokerage account agreement. Most brokerage account agreements contain language that says you agree you will not share your login information with a third party. So, it could be a breach of your... Read more »

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1 Answer | Asked in Stockbroker Fraud for Idaho on
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???

Ross B. Intelisano
Ross B. Intelisano answered on Oct 13, 2020

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.

2 Answers | Asked in Stockbroker Fraud and Securities Law for Texas on
Q: Can a broker (Charles Schwab) randomly closed my broker account.

I have my 401K and a 529 account with Charles Schwab. I opened a new acct on the 25th of Sept to attempt to trade. On the 6th they blocked my account for "fraudulent" reasons and the investigative team we supposed to call back within 48 hrs to discuss the matter. After several calls for... Read more »

Robert W. Pearce
Robert W. Pearce answered on Oct 12, 2020

You need to put them on Notice in writing of your objection to the freeze, remind them you have open positions and your intention to sue them for any and all damages unless they take your orders and unfreeze the account or hire an attorney to do that immediately.

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1 Answer | Asked in Stockbroker Fraud for New York on
Q: Is HNO a scam

I invited with HNO

Tim Akpinar
Tim Akpinar answered on Sep 28, 2020

It would be best for an attorney in the area you posted in to advise. But with the question remaining open for three weeks, it's possible that financial advisors or investment brokers might be more familiar with this than attorneys. Good luck

Tim Akpinar

1 Answer | Asked in Business Law and Stockbroker Fraud for Tennessee on
Q: What is insider trading? And if I’m buying and selling stocks am I at risk if I buy and sell stocks based on what I see?

Example if I buy stocks in apple after a lawsuit or a product flop when stocks low and turn around and sell the stocks when they release a new product when stocks are high. Is that insider trading??

Mr. Kent Thomas Jones Esq.
Mr. Kent Thomas Jones Esq. answered on Aug 2, 2020

Based on your statement, it looks like you are asking if insider trading is buying or selling stocks based on what you, as a member of the general public sees, for example, on the news. That is not insider trading. Insider trading would be if you are an employee of Apple, for example, and you... Read more »

1 Answer | Asked in Bankruptcy, Securities Law and Stockbroker Fraud for Delaware on
Q: I'm wondering how to get an injunction to stop a bankruptcy recently filed in Delaware by Vivus, Inc.

The creditor (IEH) with the collusion of management is grossly undervaluing assets (3 separate FDA approved drugs and one pipeline drug) more properly valued at $500M. Management was to have refinanced the $170M debt already but due to gross negligence or complicity with creditor failed to do so.... Read more »

David Luther Woodward
David Luther Woodward answered on Jul 14, 2020

Firstly, a forum like this is an inadequate place to answer a complex question such as yours.

If you--and other stockholders--are aggrieved then you need to hire your own lawyer to appear on your behalf to address the issues. There is no way to enjoin the progress of a bankruptcy--only to...
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1 Answer | Asked in Securities Law and Stockbroker Fraud for Florida on
Q: question about advisory

Can I make membership based content (for instance on www.pateron.com) and share my stock market trading signals that I use to buy/sell with disclaimer that I am not investment/financial advisor, will I be under the risk of penalty?

Bruce Alexander Minnick
Bruce Alexander Minnick answered on May 26, 2020

The area of law you are flirting with is fraught with great danger; those who do not retain an experienced lawyer BEFORE stepping into the line of fire very often greatly regret doing so. Advising the public on how to buy and sell securities is the job that licensed stock brokers and brokerage... Read more »

1 Answer | Asked in Banking, Civil Litigation, Identity Theft and Stockbroker Fraud for New York on
Q: What should I do? My account is frozen cause I was given fraud checks and bank took my money when they decline the check

So I was given two checks for a side job I deposit it to my account and they decline next day I was called that the check’s were fraud but they bank never gave me the money. I gave them the emails and address of where I gotten them and they froze my account. When I login into my account I had... Read more »

Michael David Siegel
Michael David Siegel answered on May 14, 2020

If you never got the money and the checks were declined, the bank must suspect you for fraud. There is something not right but if the whole matter is over $110 there is little a lawyer can do. When the courts reopen, make a small claims suit.

1 Answer | Asked in Securities Law and Stockbroker Fraud for Texas on
Q: When Transfer my IRA plan to my new employer retirement, about 30 thousand dollars were missing . I need legal advice
Ross B. Intelisano
Ross B. Intelisano answered on May 1, 2020

That's terrible. I recommend that you find an attorney in Texas to help you. There is an organization called PIABA made up of lawyers who represent investors. Here is the website. https://piaba.org. You can search for a local lawyer on the website. Good luck.

1 Answer | Asked in Consumer Law, Personal Injury, Tax Law and Stockbroker Fraud for Utah on
Q: Law suit or cash payment..HELOC check acceptable?

My boyfriend wanted to help me invest my portfolio. I gave him access but with stipulations that we were to talk about each position and I would okay them. I also told him I did not want to lose more than 2500$ of the original 10 k we talked about. He was to always put stops or trailing stops to... Read more »

Wesley Winsor
Wesley Winsor answered on Apr 7, 2020

He basically gave you a gift. Don't worry about taxes. Gifts are not taxed. You do not need to worry about taxes.

Wes

1 Answer | Asked in Business Law, Consumer Law and Stockbroker Fraud for Florida on
Q: With 401k rollover, does the company have the right to keep my money invested after i already requested rollover

The amount stated that I can rollover on the day i finalized my request did not match the amount on the rollover check given. It was 2k less.

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Mar 23, 2020

If you withdrew money too early they probably withheld taxes.

2 Answers | Asked in Family Law and Stockbroker Fraud for Florida on
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'm in the process of a divorce, and I disagree with spouses financial affidavit. Here are a few reasons why:

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... Read more »

Robert K. Savage
Robert K. Savage answered on Mar 16, 2020

Hi, I agree: this is definitely shady and wrong.

Your spouse is not permitted to sign your name unless you signed a power of attorney document giving him the explicit authority to do so. Thus, if your spouse forged your signature, most fact finders would determine that that is fraud....
Read more »

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2 Answers | Asked in Collections and Stockbroker Fraud for Florida on
Q: Is it illegal to purposely overdraft your checking account?

I had $1000 dollars in my bank account, I moved all of it into a investing website, but I accidentally did it twice, and now I'm in the hole for $1000, but I've already invested all the money. I know I can pay it back and the overdraft fees back by the end of the month, am I able to do... Read more »

Barry W. Kaufman
Barry W. Kaufman answered on Mar 3, 2020

Its not illegal. You have only a certain amount of time to replace the money. You pay it back as soon as humanly possible whether its against the law or not because the overdraft amount is not your money

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1 Answer | Asked in Estate Planning, Health Care Law, Insurance Bad Faith and Stockbroker Fraud for Illinois on
Q: What does Tod subject to STA Tod rules mean
Tim Akpinar
Tim Akpinar answered on Feb 17, 2020

Generally speaking, TOD means "Transfer on Death," and STA means "Securities Transfer Association." Your question remains open for four weeks; for a meaningful explanation of these terms, you should consider consulting with an attorney knowledgeable in probate/estate law, more... Read more »

1 Answer | Asked in Banking, Securities Law, Stockbroker Fraud and Consumer Law on
Q: Can I hold an OL investment facility liable for not activating my account on time & losing on an important transaction?

I opened an online account with an investment facility, they ensured me that it would be activated after 24-48 hours. After 7 days, it is still not activated as I hoped and the 7th day was the deadline of a transaction that I wanted to do using the account. Furthermore I told them of the urgency... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Dec 13, 2019

Probably not--unless you can prove up some financial damages. Speculative losses are not reliable; neither are speculative gains. Brokerage firms--online or otherwise--cannot be held liable for mistakes that do not actually harm the customer.

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