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Stockbroker Fraud Questions & Answers
1 Answer | Asked in Stockbroker Fraud, Business Law and Real Estate Law for Massachusetts on
Q: can a listing broker (restaurant) keep a forfeited deposit from a potential buyer or does it go to the seller

I have a small restaurant that I am selling, I have it listed with a broker. We had a potential buyer who made a $1,000 deposit. The buyer did not obtain financing, so they forfeited the deposit. The broker kept the deposit. I feel like that should be mine. The broker will earn his money on... View More

Ali Shahrestani,
Ali Shahrestani,
answered on Jul 26, 2017

That sounds problematic. Have a lawyer review your broker agreement. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials,... View More

2 Answers | Asked in Contracts, Stockbroker Fraud, Business Law and Securities Law for Florida on
Q: We received an adverse claim regarding the 3,106,000 shares of SFRX.What can I do

I paid in full 12/15/2016 for unrestricted stocks. Then he and I had a dispute not related to the stock. The person I bought the stocks from took his time on getting me my stock and when I did receive the stocks they were restricted. I then had to pay his lawyer $250 to get a opinion letter... View More

Terrence H Thorgaard
Terrence H Thorgaard
answered on Jul 22, 2017

You need the services of an attorney who works for you, not the other party. I don't know why you were required to pay the other party's attorney, but it may be something in the contract. Your attorney can review the whole matter and advise you.

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2 Answers | Asked in Stockbroker Fraud, Civil Litigation, Contracts and Consumer Law for California on
Q: I recently financed rims, services through a store. Cancelled order. How do I get my money back?

I recently financed rims and services through a store. The store told me the rims wont fit my car so they cancelled the order. I asked them to cancel the rims and services completely, being that the rims I wanted would not work on my vehicle. I wanted to get a refund to pay the loan off completely... View More

William John Light
William John Light
answered on Jul 22, 2017

You'd have to have an attorney review the finance agreement for cancellation requirements. If there is no written agreement, then you can probably go straight to Small Claims court for breach of sales agreement. This is not a "return" situation since you are not in possession of... View More

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2 Answers | Asked in Stockbroker Fraud for New York on
Q: Do I need to hire an attorney to sue my broker or can I do it myself?
Barry E. Janay
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answered on Jul 20, 2017

You can do it yourself, but see this primer: https://www.avvo.com/legal-guides/ugc/abraham-lincoln-had-it-right---he-who-represents-himself-has-a-fool-for-a-client

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2 Answers | Asked in Stockbroker Fraud and Consumer Law for New York on
Q: Any recourse against a broker who lied about an expected timeframe and cost us thousands?

Attempted to rent a co-op in NYC. Their broker said he could definitely get us in within a week of submitting the application, citing inside relationships with the board of directors. It took over a month for 2 such board members to coordinate their schedules to meet with us. Instead of moving from... View More

Barry E. Janay
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answered on Jul 18, 2017

Fraudulent misrepresentation is difficult to prove, actual damages would be difficult to prove in any case since moving is always a disruption of daily life. You can try to put together a list of some damages / out-of-pocket expenses incurred that wouldn't have been incurred otherwise and if... View More

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1 Answer | Asked in Stockbroker Fraud for New York on
Q: Can I sue my broker or brokerage in court or do I need to go through arbitration?
Ali Shahrestani,
Ali Shahrestani,
answered on Jul 14, 2017

What does your contract say about that? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/... View More

1 Answer | Asked in Stockbroker Fraud for New Jersey on
Q: What are the exceptions behind the student loan bankruptcy discharge exemption?
Leonard R. Boyer
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answered on Jul 8, 2017

You would have to "Google" that. You literally have to have one foot in the grave and one foot slipping into the grave to discharge even a portion of student loans in Bankruptcy. But if it is a private student loan and involves a fraudulent school it is a different situation.

1 Answer | Asked in Stockbroker Fraud, Employment Law and Real Estate Law for California on
Q: Can an agent work as an independent contractor for multiple brokers & get part of a commission to show homes if it sells
Ali Shahrestani,
Ali Shahrestani,
answered on Jul 1, 2017

It depends on the contractual language between the parties. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/... View More

2 Answers | Asked in Stockbroker Fraud for New York on
Q: What happens if my broker gives me information that is misleading or completely omitted from his investment

recommendations?

Barry E. Janay
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answered on Jun 20, 2017

Sounds like you may want to raise the issue with him and either file a FINRA request for mediation or arbitration. We're you damaged financially in any way? You don't have to answer on a public forum, feel free to email me privately to discuss.

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1 Answer | Asked in Criminal Law, Stockbroker Fraud and Business Law for California on
Q: Why did California Corporations ​Code 25401 change effective January 2015? Was there a defect with the previous version?
Ali Shahrestani,
Ali Shahrestani,
answered on Jun 20, 2017

You can check the legislative history of any statute at your local law library or via online records of the CA legislature re: this particular statute. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You... View More

1 Answer | Asked in Criminal Law and Stockbroker Fraud for California on
Q: I got arrested than got OR an now when i was looking up my court date it said i had a warrent

They said they filed with warrent what does that mean?

David Dastrup
David Dastrup
answered on Jun 16, 2017

After you are released O.R., then you still have to go back to court. If you miss that court date, then a warrant will be issued. If this is not what happened, there are other possibilities, such as a court clerical error, or a notice to appear with a different date but you never received the... View More

Q: I filed my complaint with California BRE in August 2016, investigation is still active n ongoing.

Once BRE files accusation, can i use this against broker in civil court?

Ali Shahrestani,
Ali Shahrestani,
answered on Jun 1, 2017

That might serve as some evidence. Have you already filed the civil case? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media... View More

1 Answer | Asked in Banking, Stockbroker Fraud and Business Law for New York on
Q: MLO license withdrawn after 20 yrs. Under article 12 e NYS law ? Conn. renewal denied. Can MLO work in another state?

Top producer and branch manager. Made a wonderful living in the banking industry. Banking License withdrawn under article 12 e. What does that mean? Denied renewal of license to sell in Connecticut too. Poor Credit? Are you allowed to apply for MLO license in the state of NJ or any other... View More

Barry E. Janay
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answered on May 31, 2017

Your questions are very specific and require review of documents. I suggest you retain an attorney on a limited basis to advise you. If you like I can assist.

1 Answer | Asked in Criminal Law, Banking, Stockbroker Fraud and White Collar Crime for Maryland on
Q: I have been sentenced but now have new evidence in my case. I wish to file a motion for reconsideration.

My attorneys do not understand real estate and as such do not understand the value of the new info thus I wish to file pro se. Need to know how to address in the motion i am doing the motion pro se

Thomas J. Maronick Jr
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Thomas J. Maronick Jr
answered on May 25, 2017

How long since sentencing? If within 10 days of your trial date you can ask for a new trial. If within 30 days of disposition you can appeal, if within 90 days you can ask for a modification of sentence. Depending on what court you are in, likely will need to file a coram nobis for a new trial... View More

2 Answers | Asked in Stockbroker Fraud for New York on
Q: Are there monetary caps on the percentage my broker can take out of my stock earnings?
Barry E. Janay
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answered on May 16, 2017

Sorry, let me rephrase. An excessively high commission can be a percentage, but the amount of money is unlimited and usually tied to good performance

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1 Answer | Asked in Stockbroker Fraud for Illinois on
Q: My broker has been selling my stocks a lot and I'm getting dinged for all of his commission fees as a result. I'm not

seeing any financial benefit for this excessive trading but he sure is making money off the fees I have to pay him. Is this legal?

Ray Choudhry
Ray Choudhry
answered on May 8, 2017

Churning is unethical.

Depending on what is being done, it may be illegal.

Why don't you take control over the account.

1 Answer | Asked in Stockbroker Fraud for California on
Q: Is there any legal guidance for what might constitute excessive fees a broker is charging a client?
Ali Shahrestani,
Ali Shahrestani,
answered on May 3, 2017

What kind of broker? What are the fees for? More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on... View More

2 Answers | Asked in Stockbroker Fraud for New York on
Q: If I feel like my broker is making trades that aren't in my best interest, can I request that my account be audited by a

neutral third party?

Joel Ewusiak
Joel Ewusiak
answered on May 1, 2017

Most likely, your current securities broker and brokerage firm will not send your account to a third party for an audit, if you make such a request. However, you may independently consult with another securities broker or lawyer to get an opinion on whether the trades are suitable in light of your... View More

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1 Answer | Asked in Stockbroker Fraud for New York on
Q: I told my broker not to trade a certain stock and they did anyway. They say it's no big deal because it made money but

I'm still irritated. Do I have any recourse?

Barry E. Janay
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answered on Mar 31, 2017

While this technically appears to be an unauthorized trade the fact that you weren't damaged means there isn't a good case to pursue anything. You probably should just consider finding another broker.

1 Answer | Asked in Foreclosure, Real Estate Law and Stockbroker Fraud for New Jersey on
Q: 3 offers in on a home - now hear none have been put to the bank buy seller's agent. No offers accepted prior.

Property is 3rd party approval and agent is claiming bank's online system doesn't allow more than 1 offer to be viewed at a time. We (and our agent) thought all offers has been put forward. What recourse do we have? We are now above asking price.

NJ, Real estate, 3rd party approval

Derek John Soltis
Derek John Soltis
answered on Mar 26, 2017

You really need to speak with an attorney. You have too many moving parts in what appears to be a short sale to get useful advice that would apply to your specific situation from a free advice website. When do you need to close by? What is the bank telling you? Are you scheduled for a sheriff sale?

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