Canadian Couple Awarded All Investment Losses Plus Interest in Claim Filed Against...
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Canadian Couple Awarded All Investment Losses Plus Interest in Claim Filed
Against Boca Raton-Based Global Trading Center
FORT LAUDERDALE, Fla. and ALBERTA, Canada, June 1 /PRNewswire/ -- The law firm
of Securities Fraud Attorney Mark A. Tepper announced today that a Canadian
couple who alleged their broker excessively traded their account in a churn
and burn scheme, have been awarded all losses and commissions plus interest by
a National Futures Association (NFA) arbitration panel.
Attorney Mark Tepper who filed a claim on behalf of the couple, alleged the
futures and options broker Global Trading Center in Boca Raton consumed the
couple's investment with predatory commission charges.
"We're very pleased with this award. This was clearly a case of 'commissions
gone wild.' This couple's investment would have had to increase 890% in one
calendar year or nearly 9 times the average monthly equity, just to cover the
commission costs," Tepper said.
Tepper had argued that in spite of the broker's alleged promise, "if you don't
make money, I don't make money," the Alberta couple's hard earned nest egg was
reduced to $1,029 even as hefty commissions were being charged and some of
their options contracts expired as worthless.
"This was another case of misrepresentations, high pressure sales tactics and
excessive trading," Tepper said.
Last month, a FINRA arbitration panel upheld a claim for damages filed by
Tepper against AmTrust Investment Services on behalf of a retired auto
mechanic. The Award fully recovered all investment losses the retiree
incurred, plus interest.
About Mark A. Tepper, P.A. (www.MarkTepper.com)
A former New York Assistant Attorney General and Chief Trial Counsel at the
Bureau of Investor Protection and Securities, Mr. Tepper has also investigated
and prosecuted ponzi schemes. A member of the Speaker's Bureau of the Florida
Bar, he has lectured before the North American Securities Administrators
Association (NASAA) which presented him with an "Outstanding Service Award."
Since establishing his law practice in Fort Lauderdale representing the
victims of broker fraud, he addresses professional associations, local clubs
and financial organizations in a continuing effort to educate the public on
securities fraud. A member of the Florida, New York and California Bars, Mr.
Tepper is AV(R)-rated, the highest rating of lawyers in the Martindale-Hubbell
Law Directory.
MEDIA CONTACT:
Mark Hopkinson, NewsMark Public Relations
561-852-5767 mhopkinson@newsmarkpr.com
SOURCE Mark A. Tepper, P.A.
Mark Hopkinson, of NewsMark Public Relations, for Mark A. Tepper, P.A.,
+1-561-852-5767, mhopkinson@newsmarkpr.com
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