Get Free Answers From Experienced Lawyers!
Have a Legal Question?
Lawyers, increase your visibility by answering questions and getting points.
Answer Questions
Stockbroker Fraud View Questions by State
Your current state is Virginia
- California
- Florida
- Illinois
- New York
- Pennsylvania
- Texas
Stockbroker Fraud Questions & Answers
Q: Can FINRA or the SEC enforce a fine on a stockbroker transitioning to full-time futures trading, and would being barred by FINRA affect their ability to trade futures with proprietary firms?
I am a registered SEC stockbroker who is considering trading futures under both a personal account and proprietary firms for 1099 compensation. If my current firm discovers this and issues an Outside Business Activity fine, and I refuse to pay the FINRA/SEC fine while quitting my stock brokerage... View More 
David Scott Harrison
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 5, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 5, 2025
FINRA sanctions directly impact an individual's ability to conduct business with a licensed FINRA member firm. For instance, a suspension is effective immediately and prevents the individual from being associated with any FINRA member for its duration. Similarly, any outstanding fine must be... View More
Q: Rejection from joining class action in investment fraud case; options to pursue legal action.
I was looking for a lawyer for an investment fraud case, when I found one that had already started a class action against the same defendant. When I pleaded to join his case as a class member (because my story was the same as his plaintiffs), he rejected me, citing that if he prevailed, he would... View More
David Scott Harrison
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 12, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 12, 2025
Generally, a lawyer initiating a class action has a duty to represent the entire class. While there may be strategic reasons for defining a class in a certain way, rejecting a potential member solely to avoid diluting recovery raises ethical and legal concerns.
1. Duty to the Class: Class... View More
3 Answers
| Asked
in
Banking, Business Law, Civil Litigation, Stockbroker Fraud and Securities Law
for
North Carolina
on
Q: Advisor stopped communication after transferring money; $1,350 taken. What to do?
I hired a personal advisor who arranged to house my money at Schwab. Initially, communication was good, but once the money started transferring, the advisor stopped communicating. I attempted to contact her several times without any assistance. Although we haven't lost any money, $1,350 was... View More
PREMIUM
Ryan K Bakhtiari
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 24, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 24, 2025
If your financial advisor stopped communicating after the transfer of funds and $1,350 has been taken from your account, you should take the following steps immediately to protect your interests:
Document Everything: Keep records of all communications with the advisor, including emails,... View More
2 Answers
| Asked
in
Criminal Law, Estate Planning, Federal Crimes and Stockbroker Fraud
for
California
on
Q: I urgently need help w. fraud forgery & mismanagement of a Trust affecting my rights trustees accountable?
I am dealing with potential forgery, fraud, and mismanagement of a Trust established for myself in which I am categorized under a ‘Special Needs Trust’ that does not reflect my circumstances. There's discrepancies; absence of my signature, false info, multiple drafts, fraud and complete... View More
Julie King
answered on Nov 15, 2024
answered on Nov 15, 2024
Few lawyers want to take on a client who has already met with a number of lawyers, all of whom passed on the case. Lawyers would likely assume all of the attorneys who reviewed the case saw something they didn’t like, so why would my review of it be any different? Meeting with a lot of attorneys... View More
Q: I feel I’ve been scammed in the crypto market, and I am seeking an attorney who can help me recover my funds,
John Michael Frick
answered on Aug 19, 2024
answered on Aug 19, 2024
Our firm does handle this type of claim both with respect to cryptocurrency and NFT in investment scams. While there are legitimate investment opportunities, scammers can and have taken advantage of individuals who do not understand them.
That being said, these are high risk investments.... View More
Q: Got online job, it paid with crypto but started asking for $ to make more, now will not return funds, what should I do?
Around $20k lost, have records of all communication and transactions. Have contact info for numerous employees as well, job seemed like legitimate company but may have been spoofing the real one. Was reached out to by a recruiter from legitimate website like Indeed.
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jun 29, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jun 29, 2024
I'm sorry to hear about your situation. The first step you should take is to gather all your evidence, including communication records, transaction details, and the contact information of the employees you interacted with. This documentation will be crucial for any legal action or... View More
Q: I sold my stock I received the check and cashed the check at a check cashing company. Two days later the check cashing
Calls me and says the check was no good ,Even though the check cashing company called the issuer of the check and verified that the check is good and go ahead and cash the check! Apparently the issuer of the check received a banking notice to direct deposit the funds electronically to my bank,... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 10, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 10, 2024
Based on the details you've provided, it seems you are caught in a difficult situation due to the actions of the check issuer and complications with your bank. Here are a few steps I would recommend taking:
1. Document everything - Make sure you have records of all communications with... View More
Q: My wife and I invested our life savings with a financial planner. At high point our portfolio was near 440,000.
Today our portfolio is valued at 75,000. We are retired and this has greatly impacted our retirement. I can’t believe a planner would loose this staggering amount for a couple in retirement. I know there were risks but that is why we trusted a planner. Our record keeping has not... View More
Michael Joseph Larranaga
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 3, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on May 3, 2024
Stock trading is a risky business. That being said, financial planners typically are licensed and are subject to liability under a negligence standard. So if the financial planner was grossly negligent such as investing all your money into a single high-risk stock without telling you then they... View More
2 Answers
| Asked
in
Consumer Law, Securities Law, Stockbroker Fraud and White Collar Crime
for
California
on
Q: I was one of the 19 investors in the USA vs Hewko case (2:19-cv-09736-FLA-AFM), How do I stay updated on this case?
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 11, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 11, 2024
To stay updated on the USA vs Hewko case (2:19-cv-09736-FLA-AFM), you have a few options:
1. PACER (Public Access to Court Electronic Records): As one of the investors in the case, you can register for a PACER account at https://pacer.uscourts.gov/. This will allow you to access case... View More
Q: I have a stock account and I was wondering if my 16 year old son could legally make stock trades on my account?
I have an webull account and I was wondering if my 16 year old son could make stock trades on my account if I give him permission, I live in California and I was wondering if this was legal? This is my own money, I’m on a cash account.
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 4, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 4, 2024
In the United States, there are legal restrictions on minors (those under 18 years old) engaging in financial transactions, including stock trading. Here are some key points regarding your situation:
1. Brokerage accounts are typically opened and maintained under the name of an adult... View More
Q: California - A financial advisor commits financial abuse, to accomplish is scheme he manipulates to remove protector
he picked an attorney for the senior to remove the CEO of the family business, make libel and slanderous statements that cost him his 20 year marriage, and they steal his interest in the company costing him millions. The advisor gets investigated by FINRA and loses his license. but with attorneys... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jan 31, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jan 31, 2024
Under California law, the CEO may have several legal avenues to pursue against the financial advisor and the firm. Given the complexity of the situation, including financial abuse, libel, slander, and potential interference with business relations, multiple causes of action could be considered.... View More
Q: California - A financial advisor commits financial abuse, to accomplish is scheme he manipulates to remove protector
he picked an attorney for the senior to remove the CEO of the family business, make libel and slanderous statements that cost him his 20 year marriage, and they steal his interest in the company costing him millions. The advisor gets investigated by FINRA and loses his license. but with attorneys... View More
PREMIUM
Steve A. Buchwalter
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jan 31, 2024
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Jan 31, 2024
James is right, but with one caveat. Every FINRA firm requires investors to sign arbitration agreements agreeing to have FINRA arbitrators decide the case. FINRA arbitration is a tricky place so make sure any attorney you talk to knows the forum.
1 Answer
| Asked
in
Consumer Law, Libel & Slander, Personal Injury, Stockbroker Fraud and Real Estate Law
for
California
on
Q: What forms can I file for situation we’re the suspended broker and private lender have slandered title and retaliated
Complex the have combined law suit that the judge did not approve because it addresses the same property
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 16, 2023
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 16, 2023
In California, if you're dealing with a situation where a suspended broker and a private lender have slandered the title and retaliated, there are several legal forms and actions you might consider. Firstly, for addressing slander of title, filing a civil lawsuit for defamation might be... View More
1 Answer
| Asked
in
Securities Law, Stockbroker Fraud, White Collar Crime, Business Law and Gov & Administrative Law
for
New York
on
Q: I want to charge a subscription for stock tips based on my trading algorithmI am a successful private trader. Legal?
I will not handle anyone else's money for them.
I will provide only the stock tips, and advisement on how best to limit risk, and set goals.
Anyone taking my advice makes their own decisions.
Do I need a license to do this?
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 15, 2023
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Dec 15, 2023
Providing stock tips and investment advice through a subscription service, even without directly handling others' money, often falls under the regulatory oversight of both federal and state securities laws. In New York, as well as under federal law, individuals or entities providing investment... View More
1 Answer
| Asked
in
Stockbroker Fraud, White Collar Crime, Civil Litigation, Securities Law and Criminal Law
for
South Dakota
on
Q: What actions to take for online trading fraud in SD?
I opened an account with an online trading broker site called CopyTrading. They instructed me to wire transfer cash to an account registered with Maintream Holding LLC in Watertown, SD. When I realized that both the LLC and the CopyTrading broker were scammers, I attempted to withdraw my money.... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 8, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Oct 8, 2025
It sounds like you’ve already taken an important first step by reporting the fraud to law enforcement. Since the scammers used a U.S. business account in South Dakota, you should also contact the South Dakota Attorney General’s Consumer Protection Division and file a detailed complaint. Provide... View More
1 Answer
| Asked
in
Stockbroker Fraud, Civil Litigation, Contracts and Securities Law
for
Georgia
on
Q: What attorney do I need for fraudulent POA on my manufactured home in Georgia?
I recently discovered that the broker from whom I purchased my manufactured home in November 2023 fraudulently signed over my title to a Power of Attorney (POA) in Tennessee, giving her all rights to my home. I paid cash for this home and never agreed to a POA, which was filed in May 2025. The... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 9, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 9, 2025
You are dealing with a situation that involves fraud, real estate, and property titles, so you need legal help that can address all of these aspects. An attorney who handles real estate and property disputes will be able to evaluate the fraudulent Power of Attorney and guide you on reversing or... View More
Q: What actions can be taken if mutual funds were placed into escheatment without my consent?
What repercussions might my former financial advisor face for the loss of dividends due to mutual funds being placed into escheatment without my knowledge? The escheatment occurred within a 90-day window, and I was not informed until I received my quarterly statement. I changed advisors within the... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 8, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 8, 2025
First, you can contact the state unclaimed property office in Florida to report the escheated funds and start the process of reclaiming them. Florida law allows owners to recover property that has been turned over to the state, even if dividends or growth were missed during the escheatment period.... View More
1 Answer
| Asked
in
Stockbroker Fraud, White Collar Crime, Consumer Law, Securities Law and Criminal Law
for
Illinois
on
Q: Can I hold my boss accountable for recommending a scam trading platform?
I invested a significant amount of money into a trading platform that my boss recommended, assuring me it was profitable and claiming he had successfully moved profits back into his bank account. Later, a colleague discovered it was a scam, and our money disappeared upon transfer. My boss... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 2, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Sep 2, 2025
What happened to you and your colleagues is deeply unfair, and it’s understandable to want accountability from your boss. Whether you can hold him legally responsible depends on how his role is viewed—was he simply passing along information, or was he actively promoting and recruiting others... View More
Q: If a court ordered no contact order filed by the court in a domestic dispute is violated in any way, is it grounds for a
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Aug 31, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Aug 31, 2025
If a court has issued a no contact order in a domestic dispute, violating that order in any way is taken very seriously. Even something that may seem minor, like sending a message or showing up unexpectedly, can be treated as a violation. Courts consider the order to be binding, and breaking it can... View More
Q: Was contacted by Stockyard Holdings Group to waive timeshare shares; is it a scam?
I was contacted by a brokerage firm named Stockyard Holdings Group by phone, asking if I would waive my shares of my timeshare. They want me to sign a certificate of dividends or waive my right to shares, stating that I would lose over $600 per share. Is this a scam, and what should I do to verify... View More
PREMIUM
James L. Arrasmith
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 12, 2025
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Apr 12, 2025
It’s good that you’re being cautious about this offer. Contacting you about waiving your timeshare shares, especially with an unusual offer like signing a certificate of dividends or losing a certain amount per share, is definitely a red flag. Scams often use pressure tactics like this to trick... View More
Justia Ask A Lawyer is a forum for consumers to get free 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 Justia and you, or between any attorney who receives your information or responds to your questions and you, 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.
