Free stocks?

[dbbwj]

I have an online brokerage account. I found that there was a large number of stocks transferred to my account of which I don't have any knowledge of. Can these stocks be considered mine now? Can I sell it? Will I be liable for those stocks if in the future somebody tries to recover it?

 

[ALawyer]

Sorry, if the shares were improperly placed in your account they are NOT yours. Just as if money was mistakenly posted to your account at a bank -- except here it is FAR easier to trace and harder to claim mistaken assumtion that they were yours. If you sell the shares you do not own it is THEFT.

One thing. To avoid any claim that you ordered the shares yet did not pay for them so you owe the firm money -- especially if they go down -- you should notify the brokerage firm's compliance director, by phone, email and letter of the facts.