Broker Fraud Questions & Answers by State
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Broker Fraud Questions & Answers
Q: I don't think my broker has been giving me all of the pertinent details about my accounts and their trade decisions but
Tracy Stoneman's answer
First, write a letter (or email) to the firm asking for everything you need. Give the firm a deadline to respond. A court won't help you unless you first document your efforts and the firm's refusal first.
First, write a letter (or email) to the firm asking for everything you need. Give the firm a deadline to respond. A court won't help you unless you first document your efforts and the firm's refusal first.
Q: Can I be sued for taking someone’s money and saying that I would invest for them when I don’t actually invest for them.
1 Answer
| Asked
in
Banking, Broker Fraud and Business Law
for
California
on
Answered on Apr 17, 2018
Answered on Apr 17, 2018
Tracy Stoneman's answer
Yes, because that conduct could constitute fraud and possibly breach of contract depending on the consideration paid.
Yes, because that conduct could constitute fraud and possibly breach of contract depending on the consideration paid.
Q: If a stockbroker embezzled my money, is there any way for me to get it back in a court action?
Steve McCann's answer
It is certainly possible, but the chances of recovery are dependent on very specific facts that are not provided here, such as any contracts signed and any representations made by your stockbroker. That being the case, I recommend you organize everything in your possession related to this matter, including any contracts and written communications with your stockbroker, and consult with an attorney individually. A knowledgeable attorney will review the information, and advise as to the best...
It is certainly possible, but the chances of recovery are dependent on very specific facts that are not provided here, such as any contracts signed and any representations made by your stockbroker. That being the case, I recommend you organize everything in your possession related to this matter, including any contracts and written communications with your stockbroker, and consult with an attorney individually. A knowledgeable attorney will review the information, and advise as to the best...
Q: My ex was paid all income for 7 yrs from co owned condo / hotel rental agreement/title is in both names.How to recover $
1 Answer
| Asked
in
Contracts, Broker Fraud, Business Law and Civil Litigation
for
Florida
on
Answered on Apr 9, 2018
Answered on Apr 9, 2018
Andy Wayne Williamson's answer
There is no way to answer your questions here on line. You need to consult with a real estate attorney in your area to have the documents you referenced reviewed and then get specific advice.
Good Luck,
There is no way to answer your questions here on line. You need to consult with a real estate attorney in your area to have the documents you referenced reviewed and then get specific advice.
Good Luck,
Q: What do I do if sellar won't sign release of contract for home inspection failure?
William F Sulton Esq.'s answer
You could file a lawsuit for a declaration stating that the sale is null and void. But that seems unnecessary in this circumstance. You can probably just walk away from the deal. It happens everyday.
You could file a lawsuit for a declaration stating that the sale is null and void. But that seems unnecessary in this circumstance. You can probably just walk away from the deal. It happens everyday.
Q: Is it legal for a lender to change an appraisal on a home after CD has been signed by the seller the day of closing ?
Andy Wayne Williamson's answer
Short answer is likely not, but you need to get off line and into an attorneys office in your area asap. There is just no way to say what should be done via this online forum and without reviewing all of the closing paperwork ect.
Good luck,
Short answer is likely not, but you need to get off line and into an attorneys office in your area asap. There is just no way to say what should be done via this online forum and without reviewing all of the closing paperwork ect.
Good luck,
Q: My friend is a day trader who said he'd do some investing for me but it's not worked out well - can I sue him?
Steve McCann's answer
The viability of a lawsuit is a very fact specific determination that cannot possibly be answered definitively without more details. That said, you may have a case depending on specific representations that may have been made by the trader. I recommend organizing everything you have in your possession relative to this situation, and consulting with an attorney individually for an in depth consultation.
The viability of a lawsuit is a very fact specific determination that cannot possibly be answered definitively without more details. That said, you may have a case depending on specific representations that may have been made by the trader. I recommend organizing everything you have in your possession relative to this situation, and consulting with an attorney individually for an in depth consultation.
Q: My deed was drawn up by a real estate broker who carried a license that was on probation for mishandling of funds
David Soble's answer
Real estate sales people should not be drafting conveyance instruments - deeds. You should have your documents reviewed by a real estate attorney.
Real estate sales people should not be drafting conveyance instruments - deeds. You should have your documents reviewed by a real estate attorney.
Q: Hello I am an International student and I have been scammed $ 4700 by somebody, how could I sue him?
Will Blackton's answer
Do you know this person's real identity and are they located in North Carolina, or at least in the US?
If so, you may have a chance at suing them to recover your money.
You can contact the North Carolina Secretary of State's Securities Division to file a complaint if this person committed broker fraud. Filing a complaint will give you a bit more information; but the NC SoS will not get your money back for you; you'll have to hire an attorney.
Do you know this person's real identity and are they located in North Carolina, or at least in the US?
If so, you may have a chance at suing them to recover your money.
You can contact the North Carolina Secretary of State's Securities Division to file a complaint if this person committed broker fraud. Filing a complaint will give you a bit more information; but the NC SoS will not get your money back for you; you'll have to hire an attorney.
Q: Contracted broker hired noninsured carrier to transport in agreement states any carrier to be insured
Andy Wayne Williamson's answer
Absolutely no way to say for sure without first reviewing the documents. If the contract is governed by Florida Law, then you need to consult with a Florida attorney.
Good luck,
Absolutely no way to say for sure without first reviewing the documents. If the contract is governed by Florida Law, then you need to consult with a Florida attorney.
Good luck,
Q: Contract had no dates and broker held it for 6 weeks, then had seller sign, is it valid?
David Soble's answer
If you put in an offer and then revoked the offer in writing BEFORE the seller accepted, you should be able to walk away from the contract. However, Michigan courts have held that signatures on the (bottom lined) merely evidence that the Parties have an agreement. Courts will also look at the surrounding circumstances to determine if you properly revoked your offer. So what evidence do you have that shows you revoked your offer based on the long delay, before January 6, 2018? Finally, only...
If you put in an offer and then revoked the offer in writing BEFORE the seller accepted, you should be able to walk away from the contract. However, Michigan courts have held that signatures on the (bottom lined) merely evidence that the Parties have an agreement. Courts will also look at the surrounding circumstances to determine if you properly revoked your offer. So what evidence do you have that shows you revoked your offer based on the long delay, before January 6, 2018? Finally, only...
Q: Can a listing agent refuse to go to any of her clients about my offers. Every house I like she is listing.
1 Answer
| Asked
in
Broker Fraud, Civil Rights and Real Estate Law
for
Illinois
on
Answered on Jan 17, 2018
Answered on Jan 17, 2018
James G. Ahlberg's answer
Take these facts to a lawyer's office. Something is seriously wrong if a listing agent in a brokerage you ware working with is telling people you are a risk. If your realtor is telling you the listing agent says this, I would question whether the realtor is telling you the truth.
Take these facts to a lawyer's office. Something is seriously wrong if a listing agent in a brokerage you ware working with is telling people you are a risk. If your realtor is telling you the listing agent says this, I would question whether the realtor is telling you the truth.
Q: I am looking for an atty, 1) admitted to federal court, to file a suit against a forensic accountant, I have the proof
1 Answer
| Asked
in
White Collar Crime, Estate Planning, Securities Law and Broker Fraud
for
Alabama
on
Answered on Jan 13, 2018
Answered on Jan 13, 2018
Samuel G McKerall's answer
I'm sure you can find an attorney who will consider taking your case, if you look hard enough and if your case has merit. An attorney can sue the accounting firm, the trustee and the trust attorney. He or she cannot file criminal charges, or even threaten to file criminal charges, and cannot sue the E&O carrier. If a person or company with E&O insurance is sued, they contact their E&O carrier, who may or may not step in and defend.
WARNING: I am not your lawyer and providing you...
I'm sure you can find an attorney who will consider taking your case, if you look hard enough and if your case has merit. An attorney can sue the accounting firm, the trustee and the trust attorney. He or she cannot file criminal charges, or even threaten to file criminal charges, and cannot sue the E&O carrier. If a person or company with E&O insurance is sued, they contact their E&O carrier, who may or may not step in and defend.
WARNING: I am not your lawyer and providing you...
Q: Can real estate salespersons legally set their own commission rate or their supervising brokers have legal final say?
Richard Sternberg's answer
You are a sales agent for your broker. You do not define much of anything for your broker as a matter of law. But, as a practical matter in the marketplace for decades now, agents who produce have more power than their supervising brokers. As long as you are producing and covering more than the broker's cost for you (insurance, desk, training), as well as paying whatever share you agreed to pay, you can probably write your own ticket *with the broker's approval*. Indeed, successful agents in...
You are a sales agent for your broker. You do not define much of anything for your broker as a matter of law. But, as a practical matter in the marketplace for decades now, agents who produce have more power than their supervising brokers. As long as you are producing and covering more than the broker's cost for you (insurance, desk, training), as well as paying whatever share you agreed to pay, you can probably write your own ticket *with the broker's approval*. Indeed, successful agents in...
Q: I am selling a home which the buyer backed out of the contract. How can I get the escrow agent to release those funds?
2 Answers
| Asked
in
Real Estate Law, Arbitration / Mediation Law and Broker Fraud
for
Florida
on
Answered on Jan 11, 2018
Answered on Jan 11, 2018
Andy Wayne Williamson's answer
No way to say without first reviewing the contract documents. The refund of EMD can be a tricky topic that depends upon a variety of facts. Consult with a real estate attorney in the Hollywood, FL area.
No way to say without first reviewing the contract documents. The refund of EMD can be a tricky topic that depends upon a variety of facts. Consult with a real estate attorney in the Hollywood, FL area.
Q: Someone sent me this 2202. Intentional Interference With Prospective Economic Relations via text should I worry?
1 Answer
| Asked
in
Employment Law, Broker Fraud and Business Law
for
California
on
Answered on Dec 28, 2017
Answered on Dec 28, 2017
Dale S. Gribow's answer
without all the facts it is hard to analyze.
this kicks in when you are interfering with someone else's business relationship.....ie they are trying to sell, enter into contract etc and you are causing them to lose their deal etc
without all the facts it is hard to analyze.
this kicks in when you are interfering with someone else's business relationship.....ie they are trying to sell, enter into contract etc and you are causing them to lose their deal etc
Q: If a person has 40 charges of identity theft credit card forgery and credit card fraud. What would the punishment be?
1 Answer
| Asked
in
Broker Fraud, Criminal Law, Federal Crimes and Identity Theft
for
Virginia
on
Answered on Dec 18, 2017
Answered on Dec 18, 2017
Susan Fremit's answer
It will depend on whether the alleged offenses can be proven and if yes, how many the commonwealth will proceed on. Sentencing guidelines may be increased by any prior record you have.
It will depend on whether the alleged offenses can be proven and if yes, how many the commonwealth will proceed on. Sentencing guidelines may be increased by any prior record you have.
Q: Misrepresentation
1 Answer
| Asked
in
Consumer Law, Real Estate Law, Broker Fraud and Gov & Administrative Law
for
Wisconsin
on
Answered on Dec 1, 2017
Answered on Dec 1, 2017
William F Sulton Esq.'s answer
More information is needed to evaluate the facts in your inquiry. Appraisals are subjective. So it is unsurprising there are different opinions about the value of the home. This is not fraud (misrepresentation is a synonym). It may be negligence. More information is needed to see how negligent the opinion is.
More information is needed to evaluate the facts in your inquiry. Appraisals are subjective. So it is unsurprising there are different opinions about the value of the home. This is not fraud (misrepresentation is a synonym). It may be negligence. More information is needed to see how negligent the opinion is.
Q: How can a Realtor structure a promotion to give a portion of commission to a charity?
1 Answer
| Asked
in
Contracts, Real Estate Law and Broker Fraud
for
California
on
Answered on Nov 20, 2017
Answered on Nov 20, 2017
David Keith Hicks' answer
Your commission is yours after you receive it, and not before. It has nothing to do with the company or any "referral" fee. Are you trying to divert or delay income to avoid this years alternative minimum tax?
You don't really need a real estate lawyer. You need a lawyer who knows about California's sales and use tax that regulates non-profit transactions. Start by checking the Attorney General's Registry of Charitable trusts to check out the organization you want to do this with....
Your commission is yours after you receive it, and not before. It has nothing to do with the company or any "referral" fee. Are you trying to divert or delay income to avoid this years alternative minimum tax?
You don't really need a real estate lawyer. You need a lawyer who knows about California's sales and use tax that regulates non-profit transactions. Start by checking the Attorney General's Registry of Charitable trusts to check out the organization you want to do this with....
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