R
Rldunc
Guest
What is the name of your state? FL
I am posting this for a friend. He lost over $100K from savings and IRA accounts to a person acting as a broker but not licensed.
This happened in 1999. It was an Internet company that wanted to go public and was raising money for an IPO. My friend wanted to invest in this company and get in on the ground floor of the IPO. His broker transferred money from his IRA and bank accounts, signing his name as a broker. Turns out, he had been a licensed broker, but his license was suspended for 15 days for some impropriety. It was in that period that my friend invested his money. Needless to say, the IPO never came out, the bubble burst. He has called FL Banking and Finance office and the State Attorney's Office. They agree that this was criminal behavior, but tell him he needs his own attorney to pursue.
What should he do next? Can he file a civil suit pro se? Are there attorneys to take a case like this for a percentage?
I am posting this for a friend. He lost over $100K from savings and IRA accounts to a person acting as a broker but not licensed.
This happened in 1999. It was an Internet company that wanted to go public and was raising money for an IPO. My friend wanted to invest in this company and get in on the ground floor of the IPO. His broker transferred money from his IRA and bank accounts, signing his name as a broker. Turns out, he had been a licensed broker, but his license was suspended for 15 days for some impropriety. It was in that period that my friend invested his money. Needless to say, the IPO never came out, the bubble burst. He has called FL Banking and Finance office and the State Attorney's Office. They agree that this was criminal behavior, but tell him he needs his own attorney to pursue.
What should he do next? Can he file a civil suit pro se? Are there attorneys to take a case like this for a percentage?