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Stockbroker Fraud Questions & Answers
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?
James L. Arrasmith
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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...
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1 Answer | Asked in Stockbroker Fraud for California on
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.

James L. Arrasmith
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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...
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2 Answers | Asked in Elder Law and Stockbroker Fraud for California on
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

James L. Arrasmith
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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

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2 Answers | Asked in Elder Law and Stockbroker Fraud for California on
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

Steve A. Buchwalter
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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.

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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

James L. Arrasmith
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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

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?

James L. Arrasmith
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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 Banking, Business Law, Securities Law and Stockbroker Fraud for New York on
Q: Brokerage Misconduct - E*TRADE

In May 2022, I invested $8M in a U.S. Treasury note, due in April 2024. I instructed my ETRADE manager to liquidate $5.6M for property buying. Unexpectedly, ETRADE initiated a $5.6M margin loan, leaving part of my investment intact. I discovered this during a routine review, not through direct... View More

James L. Arrasmith
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answered on Nov 4, 2023

In situations like this, you may have grounds to file a complaint for brokerage misconduct if E*TRADE acted contrary to your instructions and without your consent. It's essential to review the client-broker agreement and any written communication to determine if E*TRADE deviated from the... View More

1 Answer | Asked in Banking, Business Law, Elder Law and Stockbroker Fraud for New York on
Q: My mother is being attacked, financially, by her mother's former broker. What can she do?

He has accused her of fraud, removing her from her bank accounts, attacked her mother's current broker with a false report. She can no longer pay her Bills. Also, he is working with my mother's sister, lying to her about things my mother never said, and using my grandma, who my sister has... View More

James L. Arrasmith
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answered on Nov 4, 2023

Your mother should consider retaining an attorney experienced in elder law and financial exploitation cases immediately. This situation may involve complex issues like undue influence and financial abuse. An attorney can help navigate the allegations, work to protect her interests, and potentially... View More

1 Answer | Asked in Stockbroker Fraud and Civil Litigation for Texas on
Q: I changed my IRA over to precious metals. I invested $21,000 into silver coins at $73 when market was $27. What is wrong

I was dumb on this and thought I was doing good. At 287 1 oz. silver coins for $21,000 puts the coin at $73.00 per 1 oz coins. What can I do?

T. Augustus Claus
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answered on Oct 6, 2023

In Texas, as in many states, deceptive trade practices can be actionable. If you believe that you were misled or deceived when making this purchase, you may have grounds to take legal action under the Texas Deceptive Trade Practices Act (DTPA). For personalized legal advice tailored to your unique... View More

2 Answers | Asked in Stockbroker Fraud for California on
Q: Bad Investment with A List Partners

Back in 2017, we invested with A List Partners, LLC based out of Austin Texas. Bad mistake. Was never given updates on our investment.

In April of 2021, we received a liquidation letter, completed the required form and submitted it. Over two years later, we still have not seen our... View More

James L. Arrasmith
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answered on Jul 10, 2023

I'm sorry to hear about your experience with A List Partners, LLC and the difficulties you're facing in retrieving your investment. It's concerning that the company has been unresponsive, and you've taken steps by filing complaints with the Attorney General of Texas and the FTC.... View More

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3 Answers | Asked in Stockbroker Fraud and Estate Planning for California on
Q: Can I file a complaint against financial service for not paying death benefits from annuity.

They claim the beneficiaries have been notified but they have not. The agency is in Ohio

James L. Arrasmith
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answered on Jun 15, 2023

Sure! If you're not receiving death benefits from an annuity, here's what you can do:

1. Contact the financial service provider to discuss the issue.

2. Review your annuity contract for the provider's obligations.

3. Gather supporting documents.

4....
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3 Answers | Asked in Stockbroker Fraud and Estate Planning for California on
Q: Can I file a complaint against financial service for not paying death benefits from annuity.

They claim the beneficiaries have been notified but they have not. The agency is in Ohio

Julie King
Julie King
answered on Jun 14, 2023

You can sue anyone for anything, but that doesn't mean the lawsuit will be successful. If you haven't already done so, you should have a lawyer send a demand letter asking the company to cooperate and prove the beneficiaries have been notified. It's possible that the beneficiaries... View More

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3 Answers | Asked in Stockbroker Fraud and Estate Planning for California on
Q: Can I file a complaint against financial service for not paying death benefits from annuity.

They claim the beneficiaries have been notified but they have not. The agency is in Ohio

Anthony M. Avery
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answered on Jun 14, 2023

If you feel you have a copy of the beneficiary declaration, then have a lawyer make a demand for payment, including by a claim on the company's form. However if not paid, then litigation is a necessity. Jurisdiction is a huge obstacle: where contract made; where contract breached;... View More

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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... View More

Anthony M. Avery
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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... View More

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...
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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 .

Samuel B. Edwards
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Samuel B. Edwards
answered on Feb 26, 2023

Financial advisors are certainly not allowed to steal or wrongfully lose their client's money. There is currently a big emphasis on trying to protect elderly investors, who are often the target of scam artists. There are potentially a number of criminal violations that could apply to your... View More

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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... View 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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1 Answer | Asked in Stockbroker Fraud for Texas on
Q: My Wife and I live in Texas we recorded a conversation with two Schwab experts in Arizona.

The recording shows one person in Arizona was not truthful. Can we use the recording against that person.

Thank You

John Michael Frick
John Michael Frick
answered on Mar 6, 2024

Both Texas and Arizona are one-party consent states. As long as you were a party to the conversation, you may use a recording that you made.

1 Answer | Asked in Criminal Law, Antitrust, Land Use & Zoning and Stockbroker Fraud for California on
Q: 221 Section, is current 2024?

If I file a lawsuit for everything, including violent threats, and verbal physicial,

would that be able to be outlined in General Chapter Attorney Liens for 221 Section

The Law is different for everyone, everyone doesnt fall under the same law.

For reference, I exercise... View More

James L. Arrasmith
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answered on Jan 13, 2024

Under California law, filing a lawsuit that includes claims for violent threats and verbal or physical harm can be complex, especially when considering the specific provisions of Section 221 under the General Chapter Attorney Liens. It's important to clearly outline each claim in your lawsuit... View More

1 Answer | Asked in Banking, Civil Litigation, Contracts and Stockbroker Fraud on
Q: 20140279522 is this approved for isr on financial contracts in Australia

Applications

Tim Akpinar
Tim Akpinar
answered on Oct 14, 2023

It might be difficult to get guidance on such a matter here. This forum is geared mainly toward U.S. law and courts. An attorney who practices in Australia should advise. Good luck

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