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California Stockbroker Fraud Questions & Answers

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 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... Read more »

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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 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 made. Some... Read more »

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 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 relationship.....ie they are trying to sell, enter into contract etc and you are causing them to lose their deal etc

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 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 who knows about...
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1 Answer | Asked in Stockbroker Fraud, Civil Litigation and Landlord - Tenant for California on

Q: WHAT IS EXTRINSIC FRAUD

Louis George Fazzi answered on Nov 6, 2017

Generally speaking, extrinsic fraud exists where one obtains a judgment in court by producing some kind of false or fraudulent evidence which could not have been discovered by the adverse party at the time it was presented, and was only discovered afterward.

1 Answer | Asked in Consumer Law, Contracts, Stockbroker Fraud and Civil Rights for California on

Q: Hello - Under Ca State Law is a consumer protected from a late charge if the due date falls on a closed store date?

Let us say Sept 3 - the due date is a Sunday. Is a consumer protected from any ‘late fees’ if paid amount due is paid the following open day? Monday?

Louis George Fazzi answered on Nov 6, 2017

You need to look at the terms of the contract you entered with the creditor. Generally speaking, if the due date is a day the business is closed, it is generally accepted practice to give a grace period until the next business day. I have not researched the Civil Code on this issue recently, but... Read more »

2 Answers | Asked in Stockbroker Fraud and Real Estate Law for California on

Q: how do i file a civil suit for broker fraud and negligence? is a contingency possible after reviewing the merits

if documented proof of fraud and violations of CAL BRE regulations, ca.BPC, just to name a few are documented and verified. I lost my home and this has seriously hurt my family. WHAT CAN I DO ?

Sagar Parikh answered on Sep 26, 2017

Sorry to hear you have gone through this situation. YOu should retain a real estate/business lawyer to file a claim.

Depending on the damages and the strength of your evidence, yes, attorneys may be willing to take this type of case on a contingency.

A full consultation would be...
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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... Read more »

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 goods to return.... Read more »

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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, Esq. 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/... Read more »

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, Esq. 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... Read 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 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... Read 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, Esq. 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... Read more »

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, Esq. 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... Read more »

1 Answer | Asked in Stockbroker Fraud, Personal Injury and Real Estate Law for California on

Q: What can I sue agent and broker for non disclosure of mold and proof of fraudulently not disclosing it

I bought a home when I was on Active Duty and agent failed to disclose mold. He hid home inspection report from me and sent it as his own disclosure. We have proof he did agent disclosure the same day as home inspection and admit to discussing all issues with home inspector. Broker confirmed the... Read more »

Ali Shahrestani, Esq. answered on Mar 25, 2017

Have a lawyer review the related disclosures, contracts, and communications to determine whether fraud occurred here or whether you were responsible to conduct such due diligence investigations of the house via paid professionals. More details are necessary to provide a professional analysis of... Read more »

1 Answer | Asked in Banking, Stockbroker Fraud, Business Law and Contracts for California on

Q: Is there a Cali law citing investment brokers or persons with SEC license owe"duty of care" to disclose material info.

Investment broker recommends an investment that turns out to be a fraudulent scheme and broker knew or should have known the project was a scam.

Ali Shahrestani, Esq. answered on Feb 12, 2017

You may be able to sue for negligence, if not fraud (since you say the broker "knew"). 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,... Read more »

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

Q: If canceled contract with mortgage broker, b4 docs, can they still inquire info on my behalf?

Ali Shahrestani, Esq. answered on Dec 6, 2016

More information is needed here about this situation. Much depends on the contract you signed and the facts of the case. The best first step is an Initial Consultation with an Attorney. You can read more about me on my law practice website. This answer does not constitute legal advice nor does it... Read more »

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

Q: what are the penalties for failure to disclose the mandated state disclosures e.g. "known hazards"?

Other than disciplinary actions against real estate brokers or sales people, or arbitrated settlements for failure to disclose issues which had weight in decision to buy, other than just rescission of purchase contract? Say, still want to own the property, just what are the possible monetary... Read more »

Richard Samuel Price answered on May 2, 2016

The buyer would have to prove up monetary damages of either the costs to repair or the diminution in value of the property. However, if the buyer had knowledge of the material facts, or should have known, then the buyer won't be entitled to recovery.

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

Q: Do we have to sign a 5arm loan from our broker? We want a 30 year fix, and he says no, we have to do this for 6 months?

First time home buyer, and less than two weeks away from closing. We put down 3.5%, and have excellent credit. We feel that the rates are low enough and want to lock, but the broker and lender want to make more money off us. Does this sound right? We don't want to back out now, as lose the home,... Read more »

Richard Samuel Price answered on Apr 24, 2016

Best thing to do is discuss this with your agent's broker and with the loan officer. This may be the only way to purchase the home, but it may also be a way to get more business out of you. Remember, that you don't have to buy the house if you still have a loan contingency on the purchase.

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