Legal Question in Credit and Debt Law in California

Online Broker Error in My Favor

my online broker just screwed up and accidentally credited me with a large amount of money. apparently they said it was from a check deposit. so im thinkin that a customer wrote a check to them, but they put it into my account instead. what should i/can i do? how long should i wait?


Asked on 12/22/00, 3:16 am

2 Answers from Attorneys
Ramon Barredo Law Offices of Ramon G. Barredo

Re: Online Broker Error in My Favor

You should immediately communicate in writing with your online broker, preferably registered/certified mail, informing them of the situation. You are not allowed to touch that money for whatever purpose since you know that it does not rightfully belong to you. It is in your account under trust.

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Answered on 12/28/00, 6:07 pm
Ken Koury Kenneth P. Koury, Esq.

Re: Online Broker Error in My Favor

I would send a letter advising them that the money is not yours and demand that they remove it from your account.

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Answered on 12/27/00, 2:51 pm


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