Brokerage-Chat Site Securities Fraud: A Lawsuit Message Board

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Pastimes : Brokerage-Chat Site Securities Fraud: A Lawsuit

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To: CountofMoneyCristo who wrote (1618)	7/17/2003 2:47:32 PM
From: rogerover	Read Replies (3) of 3143

<Within a matter of weeks, the clearing firm of Terra Nova, Southwest Securities, Inc., sent the Internal Revenue Service 1099 forms purporting to document Plaintiff’s income for the years 1998-1999. A copy of this record is attached hereto as Exhibit D. The belated filing of these documents is directly responsible for a tax liability Plaintiff now has outstanding with the Federal government of some $49,441,636.00 on a purported “day trading” income of some $124,971,003.00. Nearly $125 million in so-called income and $50 million in so-called taxes on this phantom income.> Please tell me you didn't really call it "income" in your court filing. OK, let's try this again for about the 10th time... were these "special" 1099s, of a type I've never seen and don't believe exists, that purport to show something other than proceeds from the sale of securities? A million dollars of trade proceeds on a 1099 does not indicate any "income" if you had a basis of a million or more in the securities sold. Just stomp your foot 5 times or give us some other kind of signal to show that you really do understand this point notwithstanding your dogged refusal to respond to it.

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