Broker firm fraud

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

Basnayake

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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 .

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

mark

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omg,u were in margin or broker credit?

Sad

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

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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

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

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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

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

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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....!!!!

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

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Can’t help friend.

Jana1 · 7 Re: Broker firm fraud Tue May 07, 2013 9:10 am

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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...

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

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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

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

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

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

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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...

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

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Wish You All to Have Safe Play! & Safe Thoughts for Own-self Benefits & Other-selves Benefits..!!! Cool

sisira.wijeweera · 11 Re: Broker firm fraud Tue May 07, 2013 4:23 pm

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Greg before friday it will up 22? Or 18-18.5 level?

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

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bassa ,
we learn by making mistakes.

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

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

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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.

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

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

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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..

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

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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 .

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

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The title is misleading

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

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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.

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

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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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Broker firm fraud

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

Basnayake

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

mark

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

Gaja

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

Kithsiri

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

KDDND

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

seek

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

Jana1

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

smallville

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

gamaya

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

KDDND

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

sisira.wijeweera

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

sureshot

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

micky

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

UKboy

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

wiki

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

Basnayake

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

Fresher

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

kalum

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

Gaja

20 Re: Broker firm fraud

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