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Canadian Couple Awarded All Investment Losses Plus Interest in Claim Filed Against Boca Raton-Based Global Trading Center

Jun 1, 2009

FORT LAUDERDALE, Fla. and ALBERTA, Canada – The law firm of Securities Fraud Attorney Mark A. Tepper announced today that a Canadian couple who alleged their broker excessively traded their account in a churn and burn scheme, have been awarded all investment losses and commissions plus interest by a National Futures Association (NFA) arbitration panel.

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  • [Archived press release about the recovery of investment losses]
    • Archived Securities Fraud News

Attorney Mark Tepper who filed a claim on behalf of the couple, alleged the futures and options broker Global Trading Center in Boca Raton consumed the couple’s investment with predatory commission charges.

“We’re very pleased with this award. This was clearly a case of ‘commissions gone wild.’ This couple’s investment would have had to increase 890% in one calendar year or nearly 9 times the average monthly equity, just to cover the commission costs,” Tepper said.

Tepper had argued that in spite of the broker’s alleged promise, “if you don’t make money, I don’t make money,” the Alberta couple’s hard earned nest egg was reduced to $1,029 even as hefty commissions were being charged and some of their options contracts expired as worthless.

“This was another case of misrepresentations, high pressure sales tactics and excessive trading,” Tepper said.

Last month, a FINRA arbitration panel upheld a claim for damages filed by Tepper against AmTrust Investment Services on behalf of a retired auto mechanic. The Award fully recovered all investment losses the retiree incurred, plus interest.

About Mark A. Tepper, P.A. (www.MarkTepper.com)
A former New York Assistant Attorney General and Chief Trial Counsel at the Bureau of Investor Protection and Securities, Mr. Tepper has also investigated and prosecuted ponzi schemes. A member of the Speaker’s Bureau of the Florida Bar, he has lectured before the North American Securities Administrators Association (NASAA) which presented him with an “Outstanding Service Award.” Since establishing his law practice in Fort Lauderdale representing the victims of broker fraud, he addresses professional associations, local clubs and financial organizations in a continuing effort to educate the public on securities fraud. A member of the Florida, New York and California Bars, Mr. Tepper is AV(R)-rated, the highest rating of lawyers in the Martindale-Hubbell Law Directory.

MEDIA CONTACT:Mark Hopkinson, NewsMark Public Relations
561-852-5767 mhopkinson@newsmarkpr.com

[Archived press release about the recovery of investment losses]

Archived Securities Fraud News

  • Retired Auto Mechanic Recovers All Investment Losses in Claim Filed Against AmTrust Investment Services

    FORT LAUDERDALE, Fla., -- Learn more about the claim that led to an Award for recovery…

  • Claim Alleges Substantial losses while Stock Broker on Vacation

    Ft. Lauderdale, Florida. - A retiree struggling financially, living alone, and relying on social security to pay…

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Securities fraud, also known as stock fraud and investment fraud, is a practice in violation of the securities laws that induces investors to make purchase or sale decisions on the basis of untrue or misleading information, which can result in losses. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This website may contain attorney advertising and is a form of law firm advertising. Prior results do not guarantee a similar outcome. Each case is different and is judged on its own merits.

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Investors can also obtain more information about, and the disciplinary record of, any FINRA-registered Broker or Brokerage firm, using FINRA's Broker Check.
Broker Check is a free service for investors and can be found at www.finra.org/brokercheck.

A stockbroker fraud securities lawyer can help you take action in seeking recovery of your investment losses. The Mark A. Tepper securities law firm represents the interests of investors who have suffered stock losses as a result of fraudulent practices or stock broker fraud. Free consultation on stock fraud from Fort Lauderdale, Florida Securities Lawyer. located in Ft. Lauderdale, and serving investors in Florida including Aventura, Boca Raton, Delray Beach, Fort Lauderdale, Hallandale, Hollywood, Jacksonville, Key Biscayne, Miami, Naples, Orlando, Palm Beach, Parkland, Pembroke Pines, Pompano Beach, Tampa and Vero Beach.

LEGAL TIPS FOR INVESTORS FROM THE MARK A. TEPPER LAW FIRM

• If it sounds too good to be true, it probably is.
• Don’t sign a new account agreement unless you understand it.
• Hang up on cold callers, especially those calling with “the opportunity of a lifetime.”
• Ignore high pressure sales tactics such as “if you don’t act now.”
• Save all promotional materials, in the event of a dispute over how the investment was described.
• Get it in writing. Don’t rely on verbal representations which may be convenient for the broker to forget during a dispute.
• Do not blame yourself. Brokers have a duty to recommend only suitable investments.
• Generally, the higher the investment return, the greater the risk.

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