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  Case History 031117

E-mail to SIPA

From: "Executor" <e-mail sender>

To: <Inquiries@sipa.to>

Subject: Abuse of Seniors by Big Brokerage FA

Date: Monday, November 17, 2003 1:24 AM

Greetings,

I am very interested in any information available on the mistreatment of seniors by unscrupulous financial advisors and whether or not there are industry regulations in place designed to protect seniors.  I am also interested in suits which were launched after an elderly investor has died.

In my role as Executor of my Uncle's Estate I have discovered that in 1995 at the age of 75 my uncle was signed up for a 100% speculative Margin account by two Big Brokerage FAs.   By the time he died five years later in 2000, they had generated $374,000 in commissions for themselves and $480,000 in losses through thousands of transactions.  They basically used and abused him until he died.    None of his relatives were aware and he was too proud to ask for help.

I would also be interested in joining SIPA.   Please forward information.

Thank you,

Estate Executor, BSc MEd

Principal, My Town School