Stockbroker Fraud Q&A by State

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Stockbroker Fraud Questions & Answers
1 Answer | Asked in Consumer Law, Banking and Stockbroker Fraud for Missouri on
Q: Predatory lending?

I was seeking a personal loan to consolidate debt. I contacted personal lending group and a few hours later a group called MJM Lending (located in Florida) called and stated they were a partner of Personal Lending Group. They told me to call Compass Bank and apply for a loan because they did not... Read more »

Ronald J. Eisenberg
Ronald J. Eisenberg answered on Apr 3, 2018

You state that they are trying to charge you for something without investing time. What does your written contract state as to what is due?

1 Answer | Asked in Stockbroker Fraud and Real Estate Law for Colorado on
Q: Can a real estate broker in Colorado hire anyone (other than a land surveyor) to mark positions of property corners

so as to speed up the process of closing and circumvent the cost of a survey for their client.

Vincent Gallo
Vincent Gallo answered on Apr 1, 2018

In New York only a Professional Land Surveyor may prepare a new survey and made corners.

1 Answer | Asked in Real Estate Law and Stockbroker Fraud for Florida on
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 ?

Appraisal was completed and closings docs signed . The title company provided closing date . Closed two days prior to buyers closing . Day after sellers pre close paperwork was signed , the appraisal was flagged contract expired before lender could provide explanation. 12 hours later , lender... Read more »

Andy Wayne Williamson
Andy Wayne Williamson answered on Mar 19, 2018

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,

1 Answer | Asked in Stockbroker Fraud for Illinois on
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
Steve McCann answered on Mar 2, 2018

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... Read more »

1 Answer | Asked in Real Estate Law and Stockbroker Fraud for Michigan on
Q: My deed was drawn up by a real estate broker who carried a license that was on probation for mishandling of funds

And other money related incidents. Also the notary that notrized my documents had a license that was expired since 2013. (All verfied through Michigan licensing department). Does this affect the validity of any of my paperwork or my deed? Can I file a formal complaint ?

Thank you !

David Soble
David Soble answered on Feb 27, 2018

Real estate sales people should not be drafting conveyance instruments - deeds. You should have your documents reviewed by a real estate attorney.

1 Answer | Asked in Stockbroker Fraud for North Carolina on
Q: Hello I am an International student and I have been scammed $ 4700 by somebody, how could I sue him?

I am an international student, I wanted to learn how to trade forex and I made some research and found good feedback about somebody. I contacted him in order to learn with him but he scammed me $4700. He puts me in a terrible situation because I have almost been expelled form the country because I... Read more »

Will Blackton
Will Blackton answered on Feb 15, 2018

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...
Read more »

1 Answer | Asked in Stockbroker Fraud and Contracts for Florida on
Q: Contracted broker hired noninsured carrier to transport in agreement states any carrier to be insured

My shipment hasn't arrived and now find out the carrier the broker hired had no insurance. Also in terms of agreement any court proceedings were to be handled under Florida law. I'm in Montana. Any suggestions please thank you

Andy Wayne Williamson
Andy Wayne Williamson answered on Feb 8, 2018

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,

1 Answer | Asked in Stockbroker Fraud and Real Estate Law for Michigan on
Q: Contract had no dates and broker held it for 6 weeks, then had seller sign, is it valid?

I singed the contract on Nov. 16, then tried to back out on Jan 1 due to inactivity. On Jan. 1, I was told that I would lose my earnest money deposit if I backed out. Then broker had seller sign contract on Jan. 6. Contract still has no dates on it. Is the contract still valid? Can I ask that... Read more »

David Soble
David Soble answered on Jan 30, 2018

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... Read more »

1 Answer | Asked in Stockbroker Fraud, Civil Rights and Real Estate Law for Illinois on
Q: Can a listing agent refuse to go to any of her clients about my offers. Every house I like she is listing.

My realtor and listing agent are in the same office. The listing agent keeps saying I should find houses that are not hers. We have the down payment and all. She tells people I am a risk and not to take offer. She will even refuse to give my realtor the code to a house.

James G. Ahlberg
James G. Ahlberg answered on Jan 17, 2018

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.

1 Answer | Asked in White Collar Crime, Estate Planning, Securities Law and Stockbroker Fraud for Alabama on
Q: I am looking for an atty, 1) admitted to federal court, to file a suit against a forensic accountant, I have the proof

I have paid for a forensic accounting by Frazier Deeter in GA, and they have discovered MALPRACTICE, & Gross Negligence on the part of the Forensic accountant. The accounting firm is in Alabama. The trustee and trust atty are in Alabama. I also allege that the trustee, has stolen (actutally,... Read more »

Samuel G McKerall
Samuel G McKerall answered on Jan 13, 2018

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... Read more »

1 Answer | Asked in Stockbroker Fraud and Real Estate Law for Virginia on
Q: Can real estate salespersons legally set their own commission rate or their supervising brokers have legal final say?

I recently got a real estate salesperson license and I’m not getting enough business if I tell clients I charge full 3% instead they say if I can do 1% or less they will work with me. Is it legal for salespersons to set their own commissions rate without getting approval from their supervising... Read more »

Richard Sternberg
Richard Sternberg answered on Jan 12, 2018

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... Read more »

2 Answers | Asked in Real Estate Law, Arbitration / Mediation Law and Stockbroker Fraud for Florida on
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?

The buyer was in breach and did not secure their loan, apply and get approval from the HOA, but the escrow agent holding the deposit is stating the buyer must agree to releasing the funds.

Hollywood, FL

Andy Wayne Williamson
Andy Wayne Williamson answered on Jan 11, 2018

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.

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1 Answer | Asked in Consumer Law, Federal Crimes, Elder Law and Stockbroker Fraud for California on
Q: I just found out my mother in laws ira and stocks were stolen by her fin adviser,is there any recourse I can take?

she is deceased now but theystole over 200,000, from her and vanished,and I just discovered this,going through her papers.

William John Light
William John Light answered on Jan 11, 2018

1. Call the police/DA's office. 2. The mother-in law's heirs may be able to pursue a financial Elder Abuse claim against the financial advisor and his employer. 3. Depending on the type of financial adviser, there may be state/federal licensing agencies to whom a complaint can be... Read more »

1 Answer | Asked in Stockbroker Fraud and Real Estate Law for Michigan on
Q: When a seller lists their home with a realtor, who owns the listing - the agent they signed with or the broker?

Our agent left the office she was working in and now the broker is holding us to the listing agreement and is advertising it as a new listing. Doesn't a new listing agreement need to be signed? We would prefer to follow the agent we originally listed with. Are we going to have to wait until... Read more »

Brent T. Geers
Brent T. Geers answered on Dec 29, 2017

The listing is with the broker.

1 Answer | Asked in Employment Law, Stockbroker Fraud and Business Law for California on
Q: Someone sent me this 2202. Intentional Interference With Prospective Economic Relations via text should I worry?

What can a person do

Dale S. Gribow
Dale S. Gribow answered on Dec 28, 2017

without all the facts it is hard to analyze.

this kicks in when you are interfering with someone else's business they are trying to sell, enter into contract etc and you are causing them to lose their deal etc

1 Answer | Asked in Stockbroker Fraud and Elder Law for Massachusetts on
Q: We called lawyer to stop auction. A broker paid mortgage, stopped auction. Now they want us to sell home to pay back.

Will left home to husband and brother. Husband and family live in home and have. Broker paid mortgage. Now want us to sell to reimburse fees. We signed nothing other than ok to stop auction

Lillian J. LaRosa
Lillian J. LaRosa answered on Dec 21, 2017

This sounds highly unusual and you should meet with an attorney as soon as possible.

1 Answer | Asked in Stockbroker Fraud, Criminal Law, Federal Crimes and Identity Theft for Virginia on
Q: If a person has 40 charges of identity theft credit card forgery and credit card fraud. What would the punishment be?

Never really been in trouble. The total loss was less than 5,000 and it was done online ordering things. Only evidence is email of the person who used the credit card. 19, were Class 5&6 felony and rest is misdemeanor

Susan Fremit
Susan Fremit answered on Dec 18, 2017

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

The bank ordered an appraisal of the home we purchased a few months ago and it appraised higher than the asking price. We purchased in Janesville.

We have an emergency and we needed to borrow against our homes equity and we had our home appraised. The appraisal can in much lower than we... Read more »

William F Sulton Esq.
William F Sulton Esq. answered on Dec 1, 2017

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... Read more »

Q: Hello I had a friend who introduced me to a lawyer who only talks through texts who says he gets you free federal grant

Then he wants me to send copy of ID then my birthday name and address for money to come proof of income then he says I have to send 470 for a clearance fee then they send me 350,000 after I send it is this a scam I never seen him he only communicate through text messages

Adam Alexander
Adam Alexander answered on Nov 24, 2017

Yes, a scam.

1 Answer | Asked in Contracts, Real Estate Law and Stockbroker Fraud for California on
Q: How can a Realtor structure a promotion to give a portion of commission to a charity?

I would like to set up a Marketing Service Agreement (MSA) to give part of my commission to a charitable organization in my area to buyers and sellers that engage the promotion. I want to advertise on the organizations website and newsletter with the offer. My company says this is an illegal... Read more »

David Keith Hicks
David Keith Hicks answered on Nov 20, 2017

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...
Read more »

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