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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit
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To: Dave O. who wrote (2154)7/24/2003 2:25:17 PM
From: CountofMoneyCristo  Read Replies (1) of 3143
 
Personally I don't think your posts, even the off the wall ones, have had any material impact on the operations of Schwab...

Oh no? You're mistaken there, bigtime. After my posts here and the publication of my allegations of CyberTrader kickbacks in the New York Times on October 15, 2000, Schwab sent its "compliance team" down to Cyber headquarters in Austin, Texas. I have obtained evidence that thereafter, Schwab ordered the kickback agreements modified, they explained, "due to recent regulatory developments." I spoke with one former Cyber kickback partner, who called me "the most hated man in day trading." That's because I exposed this fraudulent scheme.

So, underestimating Schwab's concern about these claims is foolish. Their action after NYT publication is a virtual admission of guilt. Cyber's website was also altered thereafter, pages referring to kickback partners were deleted. Another admission of guilt. Yet I recorded all of them. Before vs. after NYT is very interesting indeed.

I can't make the willfully blind see. I paid an investment adviser fees for advice. He and the rest at Trading Places owed me what I paid for - not the biased advice I received thanks to the kickbacks. You find someone who is going to pay an investment adviser $500/month and not follow the advice and I'll show you someone throwing their money out the window. Yeah, we paid for the advice but really we weren't supposed to follow it!

Your argument is called reliance. I have plenty of evidence proving reliance, that Trading Places made very clear that ALL RECOMMENDATIONS WERE INTENDED FOR IMMEDIATE ACTION BY ALL TRADING PLACES CLIENTS.
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