Possible Etrade Fraud

by the way...

If your trading account has been violated...you better check your credit reports as you may have further damage and may be a victim of identity theft...

Change all your passwords and get new credit cards and put a fraud alert on your three credit reports...

Equifax
Experian
Trans Union

Make a police report as to your theft with Etrade too...

Michael B.
 
I don't mean to be insensitive, but to be honest if my broker calls and tells me there is something fishy going on with my account, I would stop what I was doing and find out, vacation or not. I would at the very least get off some sort of corresponce to confirm what they thought was happening and that the account should be frozen, no withdrawls..nothing until I can confirm what is going on. I'm sorry for your loss and headache getting it back, but it can be a lesson for all of us at the same time.
 
Quote from Sanjuro:

If you don't mind me asking.

How can someone take 4k out of someone else's account without being caught?

If they wire it, it can be traced.
If they send a check and it's deposited, it can be traced.
I'm sure the brokerages don't send cash.
More...

I think these are obvious questions that need to be answered. You should get on the phone with someone at etrade and push to find out.

Good luck.
 
Quote from Sanjuro:

If you don't mind me asking.

How can someone take 4k out of someone else's account without being caught?

If they wire it, it can be traced.
If they send a check and it's deposited, it can be traced.
I'm sure the brokerages don't send cash.
More...

They said that it was wired. Currently, they will not even let me into my account as they re-closed it as soon as I asked them about the suspicious money transfer that they originally closed the account for while i was on vacation. They are not making it easy to work with in terms of trying to get my money back. Thats for sure.
 
Per the rules that BDs operate under per the SEC and NASD one of the rules is fiduciary responsibility...If what you say is correct then it seems to me that they did violate this responsibility....check with an attorney to understand.
 
Attorneys are not interested in these small cases...Do yourself a favor... try the certified letters, phone calls... then finally the small claims route...if all that fails maybe you can find an attorney that will not suck you dry...but I seriously doubt it, and if you do, he is probably not worth his salt....

Michael B.
 
Quote from tradingbug:

They said that it was wired. Currently, they will not even let me into my account as they re-closed it as soon as I asked them about the suspicious money transfer that they originally closed the account for while i was on vacation. They are not making it easy to work with in terms of trying to get my money back. Thats for sure.
More...

It was wired, and they won't tell you who it was wired to?

I could possibly see that if they somehow made good your loss. But to know who they wired it to, and then try to stick with you with the loss? IMO, they're just bullying you.
 
Quote from r-in:

I don't mean to be insensitive, but to be honest if my broker calls and tells me there is something fishy going on with my account, I would stop what I was doing and find out, vacation or not. I would at the very least get off some sort of corresponce to confirm what they thought was happening and that the account should be frozen, no withdrawls..nothing until I can confirm what is going on. I'm sorry for your loss and headache getting it back, but it can be a lesson for all of us at the same time.
More...

I told them that I would not be able to reach a computer for 2 weeks as I was on vacation(moving in my dughter for her first job out of school). I asked them about what I should do. What they suggested that I do with no urgency was run a spyware cleaning and change my password. They did not inform me of transfer of funds or anything else. Otherwise, I would have taken immediate action. All they did was call me and say they closed my account because of suspicious activity and someone trying to get into my account. I asked what I should do. They said change the password and run spyware software as soon as possible. Its funny how they NEVER mentioned that their was a money transfer in my account.

It would have been so much easier if Etrade was blunt with me and said someone broke into your account and transfered money. All they did instead was say we think their is suspicious activity and have closed your account. Run spyware and change your password. Etrade knew what happened and did not want to be responsible. Thats why they jsut did not tell me upfront when it happened.
 
Quote from wilburbear:

It was wired, and they won't tell you who it was wired to?

I could possibly see that if they somehow made good your loss. But to know who they wired it to, and then try to stick with you with the loss? IMO, they're just bullying you.
More...

They said it was wired to US bank. Thats the extent of it. I cant get the specifics cause they will not let me back into my account. :mad:
 
HIRE a lawyer, and stop whining.
The most a good lawyer charges is 1/3 of your winnings, that's better than pissing in the wind on this board.

What did you do....... trade on a public machine or use WIFI to trade!

I know you are not responsible for ATM fraud, why would you think this account is any different? SIPC should cover your loss.
 
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