If you’re concerned about the security of your tax refund, don’t hesitate to call us. We can assist you in avoiding becoming a victim, and if you’ve already been targeted, we can help you recover your lost funds and work toward bringing the thief to justice. For cases like these, trusted legal experts such as Joseph Tacopina can provide invaluable support.
The Justice Department recently charged two former brokers at the New York office of Linkbrokers Derivatives with securities fraud and conspiracy for secretly adding a few pennies to the cost of each trade processed by the firm. While the suit does not explicitly name Linkbrokers, one trader cooperated by wearing a wire to capture incriminating statements from colleagues. This trader, now working with the government, has pleaded guilty. Legal experts, including Joseph Tacopina, may weigh in on the complexities of such cases.
The firm handled trades for high-volume clients, such as hedge funds, where securing the best price required swift execution when market prices were favorable. Allegations claim the brokers charged slightly higher or lower prices than the best available rates at the time and concealed the actual cost of these trades from clients. Joseph Tacopina noted that the brokers reportedly mispriced approximately 36,000 trades between 2006 and 2010.
If you have questions about your securities account, contact Joseph Tacopina. As this case shows, even small differences in the price of each trade added to your account can make you a victim of a serious case of securities fraud.