Stockbroker Fraud Q&A by State

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Stockbroker Fraud Questions & Answers
1 Answer | Asked in Legal Malpractice, Probate, Securities Law and Stockbroker Fraud for Florida on
Q: Can a Florida spouse/POA/ PR be sued to recover inheritances after estate admin closed?

If illegal/egregious actions by stepmother/POA/PR were recently learned of by daughter beneficiaries, and estate admin was closed August, 2018, do we have options to sue or recover estate assets (money)? (Date of death 5/2017) One of several issues involves fathers long-time advisor. Investment... Read more »

Seril L Grossfeld
Seril L Grossfeld answered on Oct 10, 2019

At this point you should probably see an attorney who specializes in securities fraud to ascertain whether you have an action against the investment firm for changing type of account without proper authority.

Other issue is whether there was fraud on the court as far as the probate...
Read more »

1 Answer | Asked in Securities Law, Stockbroker Fraud and White Collar Crime for Florida on
Q: I am stuck in a shorting position of 4000 shares of $CETC (Hongli Clean Energy Technologie) that I am unable to cover

since the stock was halted on April 2017 and delisted from Nasdaq and never relisted on OTC. My broker at first said they wouldn’t charge short interest fees since the stock is halted.

But then they suddenly start charging  “Stock Borrow Fee” ranging from $500-$700 every month since... Read more »

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

There are some critical facts missing from your facts: (1) Why are you asking for advice in mid-September 2019 about events that you say occurred in May 2017? There must be more than you are telling us.

(2) EXACTLY when did you short the security?

(3) EXACTLY when was the end date...
Read more »

1 Answer | Asked in Small Claims, Stockbroker Fraud and International Law on
Q: Crypto binary trade fraud case

Crypto binary trade fraud to me help me claim my money.

Tim Akpinar
Tim Akpinar answered on Sep 9, 2019

'Sorry that no one picked up your question in three weeks. At this point, you could look up attorneys here on this site under Find-a-Lawyer, conduct your own independent searches, or look into attorney referral resources from your state's bar association. Good luck

Tim Akpinar

2 Answers | Asked in Stockbroker Fraud for Maryland on
Q: I am looking for several TOP lawyers/firms with extensive experience relative to Brokerage firm Fraud.
David Neuman
David Neuman answered on Aug 24, 2019

You will want to also include in your search attorneys who represent investors in FINRA arbitration, as you are likely subject to an arbitration clause if you dealt with a licensed brokerage firm. I would suggest using the search function on this website, or visit to find an attorney... Read more »

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2 Answers | Asked in Real Estate Law, Banking, Probate and Stockbroker Fraud on
Q: How to clean stocks from a deceased loved one without a wheel
Bruce Alexander Minnick
Bruce Alexander Minnick answered on Aug 1, 2019

What in the world are you talking about?

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1 Answer | Asked in Stockbroker Fraud on
Q: Austrian Broker lost my £4.5 G by transfer I'm told 2 wait till they check with there bank, still waiting since 10.7.19

I'm in London & I sold my bitcoin & wanted to transfer the cash back to my bank account they sent me a transfer receipt proving to me the transfer however i contacted them when it went over a week then they've replied that the funds have gone missing & they're waiting for a reply from there bank... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 22, 2019

This is an international banking question, not a question about "Stockbroker Fraud."

Advice: If you do not have a lawyer who is competent to operate successfully in the difficult area of international wire fraud you should seek one immediately. But please be forewarned that-while the...
Read more »

1 Answer | Asked in Stockbroker Fraud for Texas on
Q: Can i sue a bank or its account holder for me wiring money to them loosing that money and realize it was a fraud?

I have bank account info and they were informed that it was fraud and still refuse to send money back

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Jul 19, 2019

Unfortunately, this very common problem is occurring at an ever-increasing rate in Texas--and in all other states. When wire transfer fraud like this happens--unless the bank is able to claw back the money from the fraudster's account-- you are out of luck. The only possibility available to you is... Read more »

2 Answers | Asked in Business Law, Contracts and Stockbroker Fraud for California on
Q: Is it legal to create contracts regarding loans to someone for the purpose to use that money to trade stocks?

If not, and a contract was made for that purpose. Let's say the loaner, loaned $5k and was promised back $10k.

Would the borrower still be obliged to give $10k

even though the contract is not legal?

Samuel B. Edwards
Samuel B. Edwards answered on Jun 15, 2019

There is nothing inherently illegal or unenforceable for a contract concerning trading stocks. However, there are a lot more questions that would need to be answered in order to know for sure, including what state you are in. There may be a requirement for the person doing the investing to be a... Read more »

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1 Answer | Asked in Estate Planning, Real Estate Law, Probate and Stockbroker Fraud for Oklahoma on
Q: I need to remove a trustee that has used the trust for her own personal gain. In fact she made changes to the original.

The changes were made while the successor was in declining health and could no longer care for herself. The trustee became the trustee after the successor died. The trust lawyer gave the trustee rules to follow and as such, the trustee violated those rules. The trustee is also a beneficiary and... Read more »

Kyle Persaud
Kyle Persaud answered on Apr 4, 2019

File an action in court to remove the trustee.

Look at the wording in the trust. Does it say that the "situs" of the trust is in a certain state? If so, file the action in that state.

The wording of the trust may also specify in which state a trust action must be filed. If that...
Read more »

1 Answer | Asked in Stockbroker Fraud for New York on
Q: I have a question concerning a Ponzi scheme and the subsequent trust liquidation reimbursement(s).

I was the victim of a Ponzi scheme in 2017. The liquidation trust has made its initial distribution and anticipates more payments over the next several years. This first payment represents less than 10% of the expected reimbursement, so it appears this will indeed be a long process. The only... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Apr 3, 2019

If I am reading your interesting question correctly, some state and/or federal law enforcement agencies have already shut down the Ponzi scheme that bilked you out of a substantial amount of money and has set up a liquidation trust that is selling off the criminal's assets; and so you are just now... Read more »

1 Answer | Asked in Criminal Law, Real Estate Law and Stockbroker Fraud for Missouri on
Q: If an individual acquires property by fraud and the real owner was unable to locate or recover who is the true owner

The father was a cpa but the son put the property in his name using a poa assigned to the father. Unknown for some time and while trying to locate the cpa not realizing it was taken the same day of the assigned poa. True owner receiving 3266.00 through a 3 yr period for 166 acres of prime resort... Read more »

Jennifer Sheila Kornblum
Jennifer Sheila Kornblum answered on Jan 9, 2019

If the son had the father's power of attorney, son had a fiduciary duty to act in father's best interest. Questions like this usually come down to what is provable in court and the credibility of the witnesses.

1 Answer | Asked in Consumer Law, Banking, Collections and Stockbroker Fraud for New York on
Q: about a stock purchased

i have invested $20,000 in a company selling securities, i was told they would send the certificate of stock after 6 months, it has been more than a year i have yet to receive a certificate, the company is still online selling securities but their information have chnaged i cannot get any contact,... Read more »

Michael David Siegel
Michael David Siegel answered on Jan 2, 2019

It sounds like you were scammed. Call the Securities and Exchange Commission enforcement office and the FBI. Your bank has nothing to do with this. They just sent a wire to a place you ordered. Am I missing something? The "company" you are dealing with likely does not really exist in a way a... Read more »

1 Answer | Asked in Stockbroker Fraud for Florida on
Q: I believe my broker is defrauding me and I suspect that other clients are being similarly defrauded. How do I contact

them to start a class action?

Mitchell Feldman
Mitchell Feldman answered on Dec 12, 2018

You obtain the assistance of a lawyer to review the claims and he or she will assist in this regard if there is a claim to be brought. I would not worry about a class let’s start with what happened to you and whether there is a chance for recovery or a claim against the broker at issue. If... Read more »

1 Answer | Asked in Stockbroker Fraud for Illinois on
Q: I recently learned my stockbroker has been sued in the past and he never disclosed this. When I confronted him, he told

me he was only required to disclose if I directly asked him. Is this true?

Alex Schmidt
Alex Schmidt answered on Nov 19, 2018

Whether a financial advisor registered with FINRA must report to his broker dealer or disclose on his brokercheck when they have” been sued” depends on 2 things:

1. The total settlement amount and whether the registered person was involved in an alleged sales practice violation...
Read more »

1 Answer | Asked in Stockbroker Fraud for New York on
Q: What does 'churning' mean in the context of investment fraud?
Alex Schmidt
Alex Schmidt answered on Nov 12, 2018

Churning in connection with investment fraud is simply when a customers investment advisor generates a high amount of trading activity in the customers investment account in order to collect more commissions. Churning is most commonly measured by checking the turnover ratio of the investment... Read more »

1 Answer | Asked in Stockbroker Fraud for New York on
Q: My stockbroker was part of a Ponzi scheme and he subsequently filed for bankruptcy. Can I still recover money I lost

from him?

Alex Schmidt
Alex Schmidt answered on Oct 29, 2018

Even if your stockbroker has filed for bankruptcy you may still be able to recover investment assets lost in connection with the Ponzi scheme. If your stockbroker was licensed with a registered broker dealer then a FINRA arbitration could be commenced against the broker dealer and recovery of your... Read more »

1 Answer | Asked in Stockbroker Fraud for Illinois on
Q: What agency would I complain to about the way my stockbroker is handling my account? I'm not sure if it's legal.
Alex Schmidt
Alex Schmidt answered on Oct 25, 2018

If you feel your investment account is being mismanaged you can report this to Financial Industry Regulatory Authority or ("FINRA"). This self-regulatory organization or ("SRO") oversees brokerdealers and sets compliance rules by which they must act. FINRA is where customer complaints against... Read more »

1 Answer | Asked in Stockbroker Fraud for New York on
Q: I'm trying to figure out if my "financial planner"

was actually qualified to give me advice on investing - do they have any kind of certification they have to have?

Alex Schmidt
Alex Schmidt answered on Oct 12, 2018

If your "financial planner" is a stockbroker who sells and markets stocks, bonds or other securities products, the easiest way to assess their certifications is checking the FINRA platform Brokercheck. Simply type in the brokers name and you will see what certifications the broker or "financial... Read more »

1 Answer | Asked in Stockbroker Fraud for Illinois on
Q: I asked for documentation/filings from the

company my broker had me invest in and after two months, nothing - is he required to give this to me?

Alex Schmidt
Alex Schmidt answered on Oct 5, 2018

If you have the name of the company you can simply go onto the SEC platform known as EDGAR and enter the name of the company or its ticker. This SEC platform will contain a trove of data on the company at issue. As for the broker there is no regulation that I am aware of that mandates a stock... Read more »

1 Answer | Asked in Stockbroker Fraud for New York on
Q: Do I have a claim for if there was also a general downturn in the market when I lost money?
Alex Schmidt
Alex Schmidt answered on Sep 14, 2018

You absolutely may still have a stockbroker fraud claim if their was a market downturn. Much will depend on the violation that you are alleging occurred whether it be fraud, misrepresentation, unsuitability or any number of potential violations. Your investment losses and whether you have sustained... Read more »

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