A story recently reported in the Investment News may be of interest to some. Four individuals, ranging in age from 61 to 80 (dubbed the "Geritol Gang" ) kidnapped their adviser, James Amburn, bound and gagged him and tossed him in the trunk for the 300 mile drive to a house that would turn into his prison for four days. During his confinement he was chained up in a basement then beaten and burned with cigarettes.
Why was the Geritol Gang so upset?
Apparently the $3.6 million of their savings he lost on real estate in Florida and Kuwait was more than they could stand. Perhaps they were seeking the proverbial " Pound of Flesh". Amburn finally was able to get a message out and was freed. His captors were arrested and have been convicted and sentenced. The ringleader of the Gang got six years.
If you have suffered losses in your stock brokerage account that are unexplained and which may have you concerned, we do not recommend taking such drastic action. Investment losses can often be recovered by filing an arbitration complaint with FINRA. Here is a link to the FINRA website for more information on arbitration.
Contact us for a free consultation. We have been helping investors recover losses for over 20 years.
561 391 1900
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.