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My wife invested 30k with a friend that I’ve known for 40+ years which I didn’t know that he scammed others for millions until it was all over the internet that’s when he turned on me when I started to ask if she can have her money back it’s just all messed up when he started send photos... View More 
answered on Jun 27, 2024
If anyone acts as another’s financial advisor snd invests money in the capital markets, they have to be licensed to do so. You should file against him with the SEC and FINRA as well as Floridas department of BPR and have him investigated and potentially prosecuted. Additionally the federal... View More
I am planning to manage investment portfolios for friends and family through an Interactive Brokers (IBKR) account while residing in Maryland. I will have less than $25 million in assets under management and fewer than 15 clients. Given these parameters, do I qualify for the de minimis exemption... View More
answered on Jun 26, 2024
Thank you for reaching out regarding managing investment portfolios for friends and family through an Interactive Brokers (IBKR) account while residing in Maryland. Based on your parameters of having less than $25 million in assets under management and fewer than 15 clients, you may likely qualify... View More
Hi, I am conducting some legal research for my firm. I am being asked to determine whether an CFP and Enrolled Agent has individual liability for alleged breach of fiduciary duty/breach of contract?
the situation is that a client is suing the accounting firm for breach of contract, breach... View More
answered on Jun 24, 2024
There is a reason you are being asked to do this research.
Some courts have held that a financial advisor can, but does not necessarily, owe fiduciary duties to a client. Other courts have held that, like all agents, a financial advisor does generally owe fiduciary duties to a client.... View More
writes GSA bonds unknowingly on people that attends y’all courts, Is this not securities fraud?
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answered on Jun 14, 2024
There seem to be some misunderstandings or misconceptions in your question. Let me try to clarify a few points:
1. Attorneys do not typically sign a "custodial affidavit" for each new client. When an attorney agrees to represent a client, they usually enter into an engagement... View More
writes GSA bonds unknowingly on people that attends y’all courts, Is this not securities fraud?
answered on Jun 13, 2024
No, attorneys do not sign a custodial affidavit on each new client. In 36 years of practice, I have never signed o.ne.
GSA bonds are required of certain gov't contractors, not usually on people who attend court. A GSA bond ensures that a contractor will perform whatever work the... View More
Yes they sound no good !!
I asked them why ?? They explained
Because they are two separate Entities. They then decided the two into their own light of contract making them two . !! I had used my gold etf in the rough draft to see how they would do is what I was after .... View More
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answered on May 27, 2024
It sounds like there has been some confusion regarding your investment in ETFs from State Street Global Advisors and iShares by BlackRock. Originally, you may have thought you were investing in a single entity, but it turns out these are two separate entities with distinct ETFs. This can be... View More
How does someone obtain the court call Log for ? Is a Subpoena required ?
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answered on May 25, 2024
Under California law, remote appearance and court call records are generally considered part of the official court record. However, public access to these records may be limited and vary depending on the specific court and type of case.
To obtain the court call log, you typically have two... View More
The ins company had to know or at very least became aware of the fact service of Notice of Rescission prior to exercising rescission is a California statutory requirement,"no Notice, no rescission." Americo was repeatedly asked to provide the citation, code or case law relied on to... View More
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answered on May 22, 2024
Based on the information provided, it seems that the insurance company (Americo) rescinded changes made by the policy owner through a Power of Attorney (POA) without properly serving a Notice of Rescission as required under California law. This action by the insurance company could potentially give... View More
Not security fraud? Is this not a breach of fiduciary duties? Are GSA bonds negotiable by delivery? Do these bonds authorize you to order the release of the defendant /surety/debtor/vessel from any encumbrance, attachment, lien, levy, liability, obligation, charge, undertaking, performance,... View More
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answered on May 8, 2024
This is a complex legal and financial topic involving claims about government bonds and securities, fraud, fiduciary duties, and victimless crimes. I don't have specific knowledge about recent court actions regarding GSA bonds and securities. In general, the sale of government bonds and... View More
I seek a lawyer who guarantees no lawyer's fee unless the frozen money is recovered successfully, because I am too broke to afford an upfront lawyer's fee after being scammed.
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answered on Apr 13, 2024
I apologize for your difficult situation with the frozen funds on the exchange. However, I would be very cautious about any lawyer who guarantees they will only take payment if they successfully recover your money. While contingency fees are common in some areas of law like personal injury, they... View More
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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... View More
I'm a foreign citizen living & working in WA state, with L-1B visa. I would like to manage money for my friends & relatives and do some investment for them. They are also all foreign citizens.
There will be less than 5 clients, and less than 100K USD managed assets.
Do... View More
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answered on Mar 30, 2024
As a foreign citizen working in the United States on an L-1B visa, there are a few important considerations when it comes to managing money for friends and relatives:
1. Registration: Generally, if you are managing money for others and investing on their behalf, you may need to register as... View More
I am a day trader with a 475 mark-to-market election, and I have a brokerage account where I am actively trading. I also have an investment account, in which I do not trade and a separate IRA account.
My husband runs a small company as a sole proprietor. Since his business carries a high... View More
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answered on Mar 14, 2024
Creating an LLC and transferring your brokerage accounts into it can provide an additional layer of asset protection, as it separates your personal assets from your husband's business liabilities. However, there are several factors to consider:
1. Charging order protection: Arizona... View More
Securities law - If I launch a token where users can send Ethereum to my smart contract to get back our token at a fixed price, is that considered a security and would I then have to register with the SEC?
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answered on Mar 2, 2024
Whether your token launch would be considered a security under securities law depends on various factors, including how the token functions and the nature of the transaction. If users are investing money with the expectation of profits solely from the efforts of others, it may meet the definition... View More
He convinced her to write him checks for $139,000. And he prematurely terminated an annuity costing her a minimum of $69,000 in fees, penalties & lost bonus. He lied to both of us, telling us the account had matured. He's his own employer and I can't find him listed in FINRA.
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answered on Mar 2, 2024
Given the complexity of your situation involving elder abuse and financial misconduct across state lines, you may need to take legal action in both New York, where the financial advisor works, and Florida, where your mother resides. Start by consulting with attorneys who are familiar with both... View More
made by CEO of company. Will small claims hear this type of case? Thanks
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answered on Mar 2, 2024
In most cases, small claims courts are designed to handle disputes involving relatively small amounts of money. Claims related to stock losses due to fraudulent public statements made by a CEO of a company might involve complex legal issues and substantial financial damages, which may exceed the... View More
It's important to note that I technically wouldn't be trading it. It would be in a brokerage and then a company would be doing the trades for me, both of which are outside of the USA. So basically can I legally have my money go into CFDs and then the profit go back to me.
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answered on Mar 1, 2024
Trading Contracts for Difference (CFDs) directly is not permitted for US citizens through domestic firms due to strict regulations set by the US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). These regulations aim to protect investors from the... View More
Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More
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answered on Mar 2, 2024
It sounds like you're facing a frustrating situation with your funds held in a closed account. Given the complexity of the issue and the unsuccessful attempts you've made so far, it's advisable to escalate your complaint within ETrade's customer service hierarchy. This might... View More
Hi, I deposited a $13k annuity check into my individual brokerage account with ETrade, but the day it cleared my account was restricted pending ID verify. Phone camera was broken wouldn't take quality pics, so I knowingly altered and submitted a copy of an expired ID that was saved to my pc.... View More
answered on Feb 29, 2024
Your issue may require a review of the terms and conditions that you agreed to when opening the account.
However, I would also recommend that you conduct a name search of the New York State Comptroller's Office of Unclaimed Funds. https://www.osc.ny.gov/unclaimed-funds. New York... View More
I am opening an account and want to get approved for this certain level of options trading; they only approve if you declare a good income and net worth; is it illegal to lie about the net worth and income?
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answered on Feb 21, 2024
Misrepresenting your net worth and income on an application for a brokerage account, especially with the intent to gain approval for certain trading options, can have serious legal consequences. Under California law, providing false information on financial documents like brokerage account... View More
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