Falsified Monthly Reports
Do not be tone deaf on this one. Think MADOFF! Mr. Madoff ran the most successful longest–running theft in the history of modern capitalism. And no one caught him. Wow! He did it with falsified monthly reports. Every month you get a report, it's impossible to understand right? It is just so many, many pieces of paper right? Wrong wrong… wrong ! It is the key to unlocking and winning in arbitration. Paper records are a thing of the past and if you become a victim of thieving, crooked, dishonest broker he knows you aren't looking and you aren't saving the paper so he can falsify reports, change computer records, and in effect make a lie out of history. They know that you don't keep your monthly report. They know you don't even open the envelope. If you are so careless with your money that you don't read your reports and understand them then in all likelihood a falsified monthly reports scheme can go on for years. It's done like this: without telling you the broker enters into a transaction, generates a fee for him/her–self: maybe a gain, or loss, for you. The transaction exists within the brokerage house system but it's not reported to you. It does exist, it won't go away, and resourceful securities lawyers know that and get them. But that doesn't take you where you need to go. What you need is a piece of paper that they sent you that month, so many, many, many years ago. You worked hard for your money; you did without comforts and vacations for years, you accumulated some wealth. Now you must be a good shepherd for yourself. Learn, learn, learn how to read those monthly reports, and look at them. Buy yourself a plastic tub, or two, and put the papers in the plastic tub. Keep it, because it is the key to winning an arbitration claim based on falsified monthly reports. Not only will you win in arbitration you will get punitive damages and a large amount of money if you promise to remain silent and not tell anyone else about this stockbroker abuse. In fact the biggest awards and the easiest the words come from falsified records claims. There is no defense to falsified record. It is impossible to prove without the paperwork you got in the mail so many years ago. If I had a dollar for every time a client came to me and said he's been the victim of falsified record report… Well you know the end of that sentence. Don't put your end at the end of that sentence. Be smart: save those monthly reports!