I'm a victim of serious online fraud at brokerage

Quote from jck_2378:

Since I don't have a lot experience in brokerage, I really don't know whether a cash account can be overdrafted this much. In fact, prior to this incident I didn't know this was permitted, I still don't know. I always thought I have to have cash to buy funds or stocks.
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Didn't have time to completely read this thread. :) But I'm sorry for your loss. The thought that came to me was maybe it was someone AT..... that's right.....AT......TD that was trading your account. Thus the delay in solving this by them. You never know. Good luck to you.
 
This sad story seems to be similar to an old fraud case.

The words TD Waterhouse, trojan, fraud, SEC, keylogger, all appeared in that one too.

http://www.theregister.co.uk/2004/05/06/cyber_stock_swindler_jailed/

I wonder if the broker helped the victim in that case or if he was on his own. It can't hurt to remind your broker of this earlier crime and that the hacker was eventually caught and jailed.

It looks like restitution came from the hacker and not the broker, so it's important to find him/her ASAP.

Archie
 
I am an attorney in California that handles claims such as yours. "SUDOR" was correct when he gave you the link to the NASD.

TD Waterhouse must be a member of the NASD and a claim can be filed against them for the losses. If you file such a claim with the NASD and TD WAterhouse is a member of the NASD they must allow the case to go forward in NASD arbitration.

If you want more information you can call contact me.
 
My opinion is that he was negligent with his own computer security and it is his fault.And he put TD on the defensive with accusations and now all they are concerned with is covering their ass.I believe it is not their fault but I think they have a duty to do everything they can to track down the perpetrator.How difficult can it be to trace every account that benefited from selling him WOLV shares?

I am reminded of a case about four years ago.A person on a message board invited people to his site to look at his charts or something.Visitors to his site recieved a key logger.Then he broke into a guys account and sold him his losers.They tracked and caught that guy and I dont see why they cant catch the crook in this case.
TD should have been asked for help and advice.Bad move accusing them.
 
The legalese most certainly protects TD from identity theft. The legalese would also protect TD from "system failure" which might be interpreted to mean a cash account that was -150k at the end of the day. sad.

Some dude in a developing country probably opened an account with an overseas broker that was lose on the naked short selling and made a killing.
 
Quote from ArchStanton:

This sad story seems to be similar to an old fraud case.

The words TD Waterhouse, trojan, fraud, SEC, keylogger, all appeared in that one too.

http://www.theregister.co.uk/2004/05/06/cyber_stock_swindler_jailed/

I wonder if the broker helped the victim in that case or if he was on his own. It can't hurt to remind your broker of this earlier crime and that the hacker was eventually caught and jailed.

It looks like restitution came from the hacker and not the broker, so it's important to find him/her ASAP.

Archie
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Only 13 months in jail ? Too light of a sentence.
 
I talk to TD rep. raise a question about intrude taking over account.

They said they provide overdraft for convenience only. They also said to me that any suspectious trading will be rejected because they have credit prove division to make trade final possible.

Fundmentally, I dont believe TD rep claim about. I have no reason to believe what he said.

But if customers's acc get hacked, for his money loss already kill him but he have to absorb loss from overdraft. That is very scare to everyone.
 
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