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Missappropriation of Funds

Discussion in 'Banking, Finance, Investments' started by ChrisE, Jun 27, 2002.

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  1. ChrisE

    ChrisE Law Topic Starter New Member

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    Over the past 36 months I have been trying to recoup $97,000 that was misappropriated from my brokerage account. I do not have the funds to go through a long Arbitration or Civil case as they will cost between $25-50,000. I have been blown off by the SEC, NASD and other regulators. Who could I contact to press criminal charges against the broker and firm. I have been told that the prosecuters will not represent individuals and will only pursue a case if it can be proven that the conduct is affecting a large number of people or an industry. What are my options as an individual, and why will the authorities not prosecute people that missappropriate funds in a brokerage account, but they will prosecute people that walk into a bank and take money. To me there is no difference. Could someone please help me understand??
     
  2. Michael Wechsler

    Michael Wechsler Administrator Staff Member

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    Can you give us more details as to how this happened? It would be atypical that a prosecutor would not go after a criminal that simply swiped your $97K and it is just that simple. It sounds like there is some type of dispute. If there is another side to the story... what is the brokerage claiming?

    Another avenue is the press. Remember, they too will be reluctant to handle a story that is fraught with "gray" areas.
     

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