EDMONTON & CALGARY, Canada, Sept. 9 /CNW/ -- 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
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
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(R)-rated, the highest rating of lawyers in the
Martindale-Hubbell Law Directory.
Mark Hopkinson, NewsMark Public Relations
Mark A. Tepper, P.A.
For further information:
For further information: Mark Hopkinson, NewsMark Public Relations,
+1-561-852-5767, firstname.lastname@example.org Web Site: http://www.MarkTepper.com