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Texas Stockbroker Fraud Questions & Answers
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

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 Stockbroker Fraud for Texas on
Q: Problem with investment group. Need to get money owed but SEC involved. Now what?

Have a contract with group. Hired a lawyer previously, but because amount owed was below $150,000, they did not advise to pursue through court. How do I get my money?

Richard  Frankowski
Richard Frankowski
answered on Jun 7, 2021

You should look at the contract you have with your investment group. Most firms include an arbitration provision in their contracts. If your firm is regulated by the Financial Industry Regulatory Authority (FINRA), you likely will have to pursue any claims in a FINRA arbitration. I hope this... View More

2 Answers | Asked in Stockbroker Fraud and Securities Law for Texas on
Q: Can a broker (Charles Schwab) randomly closed my broker account.

I have my 401K and a 529 account with Charles Schwab. I opened a new acct on the 25th of Sept to attempt to trade. On the 6th they blocked my account for "fraudulent" reasons and the investigative team we supposed to call back within 48 hrs to discuss the matter. After several calls for... View More

Robert W. Pearce
Robert W. Pearce
answered on Oct 12, 2020

You need to put them on Notice in writing of your objection to the freeze, remind them you have open positions and your intention to sue them for any and all damages unless they take your orders and unfreeze the account or hire an attorney to do that immediately.

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1 Answer | Asked in Securities Law and Stockbroker Fraud for Texas on
Q: When Transfer my IRA plan to my new employer retirement, about 30 thousand dollars were missing . I need legal advice
Ross B. Intelisano
Ross B. Intelisano
answered on May 1, 2020

That's terrible. I recommend that you find an attorney in Texas to help you. There is an organization called PIABA made up of lawyers who represent investors. Here is the website. You can search for a local lawyer on the website. Good luck.

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... View More

1 Answer | Asked in Criminal Law, Banking, Stockbroker Fraud and Real Estate Law for Texas on
Q: Can I use my checking account for providing Escrow Services? If not, how can I go about it?

A Company has recruited me as an Escrow Manager, but requires me to open a checking account to provide the Escrow Services.

The Company confirms that -

1) All payments will be in my name because according to the Escrow Service Agreements signed by our clients, they are paying me... View More

Tammy L. Wincott
Tammy L. Wincott
answered on Oct 31, 2017

I think you should be very careful as this sounds like a typical scam. Do not use your personal checking account.

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