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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Broker firm fraud

Broker firm fraud

Go down  Message [Page 1 of 1]

1Broker firm fraud Empty Broker firm fraud Tue May 07, 2013 8:00 am

Basnayake

Basnayake
Manager - Equity Analytics
Manager - Equity Analytics
my all share sold by ct to cover debts to lower price and now they told me cover remind debt ,other wise they'll take legal action . can anyone tell what should i do now ple don't take as joke , i don't have even my share in account .

2Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 8:44 am

mark

mark
Expert
Expert
omg,u were in margin or broker credit?

Sad

3Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 8:45 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Basnayake wrote:my all share sold by ct to cover debts to lower price and now they told me cover remind debt ,other wise they'll take legal action . can anyone tell what should i do now ple don't take as joke , i don't have even my share in account .

Am sorry friend, any broker has the right to sell the shares, if you are on credit, even the shares pledge to the bank can be dispose to recover the debt

4Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 8:49 am

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
දැනගෙන ගියොත් කතරගම නොදැන ගියොත් අතරමග Very Happy
Very little you can do now.
Pay up first and start from the very scratch again (If you want to).
Good Luck. Very Happy

5Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 8:55 am

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Sad to hear....!!!

Next time think hard before take ur decision...!!
At this stage... what I could see...is ..... try to negotiate with CT at least to pay the relevant interest for the DEBT until u can settle it......

They may have transferred your shares to their account....coz they might have thought that u may transfer ur share to some other broker firm.....??? I dont know whether they can do this or u can do so...but this may the reasons.....???

Hope u will have good time to get rid of this...

Poor me has little experience to say more than this by today....!!

Good Luck Mate....!!!!

6Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 8:58 am

seek


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Can’t help friend.

7Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 9:10 am

Jana1


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Basnayake wrote:my all share sold by ct to cover debts to lower price and now they told me cover remind debt ,other wise they'll take legal action . can anyone tell what should i do now ple don't take as joke , i don't have even my share in account .

Have u bough or have they bought for you during the bull run. If they have bought at rally then you can argue with them. Le say bought Gran at 200 level, Greg at 170 level. I know this type of things had happened. It is all about the circumstance at which u were entitled to them. If the side is wrong with you then talk with them kindly and try to solve rather going legal action. It will suck ur money...

8Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 12:17 pm

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Basnayake,

My sympathies for your situation. But dont u think u bought the wrong shares?
What a waste going for crap.. Ur past post are intimidating ;(

LAMB
@Basnayake wrote:i have bulk of this share 68 price. still this share doesn't show good result Like a Star @ heaven

TWOD
@Basnayake wrote:
@smayadunne wrote:wt a crap shares ?

dont go..seems itz not moving
something will good in soon

@Basnayake wrote:big loss still showing my account no idea with this shara Evil or Very Mad

GREG
@Basnayake wrote:what do you think greg warrants .greg still fail
@Basnayake wrote:i have received more credit my account today.
@Basnayake wrote:yes you right i think . i have experience greg w2 i have loss about 6 lacks that share

http://forum.srilankaequity.com/t23629-more-credits#141448

9Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 3:24 pm

gamaya


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@Basnayake wrote:my all share sold by ct to cover debts to lower price and now they told me cover remind debt ,other wise they'll take legal action . can anyone tell what should i do now ple don't take as joke , i don't have even my share in account .

CT is a retail killer. They promote and advice to buy crap that they want to dump. They provide more than 50% margin to buy crap. Needless to say they don't force sell once account passes 50% limit. Then they charge interest for years. They have hundreds of minus client accounts holding their favorite Greg bought on their advice. Clients are wiped out now. CT is promoting Greg to recover the loans.

They artificially push down low cap shares at selected pessimistic times and force sell and collect to their accounts. In a week the forced sold shares are flying... They have their investment arm to buy the force selling shares. They have their margin provider arm to get 25% interest. It's all wonderful...

10Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 4:15 pm

KDDND

KDDND
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Wish You All to Have Safe Play! & Safe Thoughts for Own-self Benefits & Other-selves Benefits..!!! Cool

11Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 4:23 pm

sisira.wijeweera


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Greg before friday it will up 22? Or 18-18.5 level?

12Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 4:27 pm

sureshot

sureshot
Vice President - Equity Analytics
Vice President - Equity Analytics
bassa ,
we learn by making mistakes.

don't worry , don't give up , u will win one day

13Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 5:00 pm

micky

micky
Manager - Equity Analytics
Manager - Equity Analytics
broker firms do not buy buy or sell shares without instructions, they need to have a at least phone call.(depend on the friendship) but they can sell to settle debts.

I strongly recommend to make a good relationship with broker.(do not follow his recommendations). So, then they will inform you about some matters regarding your account.

and always try to communicate via emails. It is safe and you have a proof.

play responsibly.

14Broker firm fraud Empty Re: Broker firm fraud Tue May 07, 2013 10:23 pm

UKboy

UKboy
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
මම එදා අද හෙට විශ්වාස කරන එකම දේ තමා, "තමාගේ ආරක්ෂාව තමා බලාගතයුතුය කියලා" (@CSE)

මට ඔබගේ තත්වය ගැන කනගාටුය. නමුත් එමගින් ඔබට කිසිදු සෙතක් නැත. එමනිසා ඉහත දෙය මතක තිය ගන්න ලෙස කාරුණිකව ඉල්ලමි.

15Broker firm fraud Empty Re: Broker firm fraud Wed May 08, 2013 5:57 am

wiki


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
We dont know the exact situation. But there is one thing........... if they didnt force sold when the margin is exceeding 50% it is their fault... They suppose to force sell and bring down the margin to 50%.

I assume that they didnt force sold your shares when margin exceeds 50% and allowing margin to 75% or even 100% and latter sold and asking you to settle the debt.. If this is the scenario you have a point..

16Broker firm fraud Empty Re: Broker firm fraud Wed May 08, 2013 7:06 am

Basnayake

Basnayake
Manager - Equity Analytics
Manager - Equity Analytics
Thanks everybody . but i have told them sell my share before, that time my account is 100% so i should not pay remain debt . i don't know why they sold this time that the question .

17Broker firm fraud Empty Re: Broker firm fraud Wed May 08, 2013 7:39 am

Fresher


Moderator
Moderator
The title is misleading

18Broker firm fraud Empty Re: Broker firm fraud Wed May 08, 2013 8:15 am

kalum


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
im sorry for your loss. It seems to be not fraud, the general behavior of this business.

however i had some difficult situations in my history but negotiate with my firm several times.

there are few things you could do. get a personal loan and settle the margin only if you think you hold shares which will drive you path to success some day.

else, try to sell at stop loss or minimum loss and negotiate the firm with rest of the debt, take some time period.

19Broker firm fraud Empty Re: Broker firm fraud Wed May 08, 2013 8:52 am

Gaja


Associate Director - Equity Analytics
Associate Director - Equity Analytics
@Basnayake wrote:Thanks everybody . but i have told them sell my share before, that time my account is 100% so i should not pay remain debt . i don't know why they sold this time that the question .

Did u have any written agreement when u must pay? If not they can sell when ever they wish, its all about the relationship with the broker.

Yes even if all the shares disposed, you have to settle the remaining debt, by the way for the information, u used to buy the shares or u allow your broker to buy on your behalf?

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