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California Stockbroker Fraud Questions & Answers
1 Answer | Asked in Stockbroker Fraud for California on
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

James L. Arrasmith
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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...
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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

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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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 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

2 Answers | Asked in Stockbroker Fraud, Trademark and Wrongful Death for California on
Q: I am ok with opting in my information now too but I understand the critics I don’t need that though what I need help

Let’s move forwarded pass everything because it’s already done. Also breaks at work 30 mins lunch one hour that should help and more trading if a nurse is high rank in college she should be a teacher and more guidance look I stayed away from politics in 2013 after may5th it just took me to step... View More

Dale S. Gribow
Dale S. Gribow
answered on Apr 23, 2023

you must clarify what you are asking.........

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1 Answer | Asked in Banking, Business Formation, Securities Law and Stockbroker Fraud for California on
Q: Can I manage other people's money (money manager or portfolio manager) with only my series 65 license in California?
Steve A. Buchwalter
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answered on Sep 1, 2022

Anyone can allow you to manage their money. There are no requirements for you to do so. Having a business of, or charging for, managing someone else's money can a different story and is more complicated.

2 Answers | Asked in Securities Law and Stockbroker Fraud for California on
Q: My question pertains to potential breach of fiduciary responsibility by my financial advisor, Merrill Lynch.

I have been a client of Merrill Lynch (ML) for more than 20 years. Not until 3 months ago did any of my advisors at ML ever mention that I should be purchasing US Govt issued iBonds, as part of my portfolio, which in almost every year of my ML relationship have paid a substantially higher return... View More

David Neuman
David Neuman
answered on Jul 28, 2022

California law finds that stockbrokers and financial advisors are per se fiduciaries to their clients. Thus, the fiduciary has to act in your best interest first. There are a number of other duties that arise when a stockbroker is a fiduciary, such as keeping their clients abreast on changes in... View More

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2 Answers | Asked in Criminal Law, Federal Crimes, Identity Theft and Stockbroker Fraud for California on
Q: Who investigates false documents and fraud done to the deceased

Yeah because I have reason to believe that my father's name was changed my mother's name was changed and then they made everything look that way now people are benefiting from everything that's written on the story and then it appears that my father and my mother the identity was... View More

Joseph Abrams
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answered on Jun 20, 2021

Most fraud offenses can be investigated by either local or federal authorities. If you have evidence of a criminal fraud or identity theft, you can begin by reporting that evidence to either your local police department of FBI field office.

- Law Office of Joseph Abrams, Anaheim, CA

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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,... View 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
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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... View More

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