Securities Fraud Attorney Mark Tepper files Claim Alleging Futures and Options Broker intended to Consume Investment of Canadian Couple with Predatory Commission Charges

FOR IMMEDIATE RELEASE
EDMONTON & CALGARY, CANADA.  –A Canadian couple who were allegedly charged $125,000 in commissions on their $100,000 investment, filed claim today against Boca Raton based Global Trading Center, accusing the futures and options broker of excessively trading their account simply to generate commissions.

The claim filed before the National Futures Association (NFA) by securities fraud attorney Mark A. Tepper, accuses the broker of "misrepresentations and high pressure sales tactics to induce the couple to make short term trades which accelerated the churning intended to consume their investment with predatory commission charges."

The claim argues 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 140 commodity options contracts that they were advised to invest in, expired as worthless.

It alleges that in a series of trading strategies patently designed to generate thousands of dollars in commissions in a short time, the broker used a combination of trades in a load and churn scheme that could not plausibly result in profits to the couple. 

"The annualized commission-to-equity-ratio for the life of the account was an astounding 890.34%! In one calendar year, the claimants' account would have to increase 890%, or nearly 9 times the average monthly equity, just to cover the commission costs," the claim alleges.
 
About Mark A. Tepper, P.A. (www.MarkTepper.com)
Fort Lauderdale, Florida Attorney Mark A. Tepper has earned a national reputation as "Investor Advocate" while practicing law for over 30 years and representing investors in criminal and civil actions. An elected Board Director of the Public Investors Arbitration Bar Association (PIABA) he has authored numerous legal articles on securities arbitration and lectured before the North American Securities Administrators Association (NASAA) which has presented him with an “Outstanding Service Award.” He addresses professional associations, clubs and financial organizations in South Florida in an effort to educate the public on securities fraud. A member of the Florida, New York and California Bars he is AV®-rated, the highest rating of lawyers in the Martindale-Hubbell Law Directory.

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