Legal Question in Investment Law in California

Hello. I have a friend that invested her IRA in his investment firm. She pulled money out and statement shows the transfer to another bank. She has not received any statements. This happened in Feb. 10. There's an office he works out of but is never there or returns her calls.

Thank you for your help


Asked on 1/17/11, 5:05 pm

3 Answers from Attorneys
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

I would guess from the somewhat sketchy facts given that there has either been a fraud perpetrated upon your friend or (less likely) the investment firm is experiencing some organizational or data-flow problems. Please ask her to contact me directly, off-site, with more complete details including names and I will perform a free initial inquiry and get back to her with the results.

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Answered on 1/22/11, 6:40 pm
Andrew May May Law, PC

This sound highly suspicious. Your friend needs to make sure that she or he gathers all of the proof surrounding the circumstances, i.e., e-mails, bank records, etc. Have her contact me offline, and I will look into it for her free initial search. My contact information is available at www.maylawpc.net.

I have been practicing for 15 years and am a few credits shy of getting my LLM, i.e., Masters of Law in Financial Services Law. I am a former General Counsel to an SEC registered broker-dealer and investment adviser, and I used to represent Fortune 500 securities firms in arbitration claims concerning their stock brokers.

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Answered on 1/24/11, 8:12 am
Terry A. Nelson Nelson & Lawless

Help will come, if at all, when she files a police crime report and files a lawsuit. If the friend is serious about taking legal action about the fraud and theft, feel free to contact me.

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Answered on 1/24/11, 11:30 am


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