To: Jack Zahran who wrote (5844 ) 11/6/1997 5:19:00 PM From: Crabbe Read Replies (1) | Respond to of 16892
It took a couple of minutes but I ran this post down from you to Jon NormileTo: Jon Normile (5063 ) From: Jack Zahran Thursday, Oct 2 1997 2:09PM EST Reply #5066 of 5858 Dear Mr. Normile: You are intentionally misrepresenting the facts. In fact your statement that I took advantage of the error is a blatant lie. Here are the chronological facts:1. Your data error was reflected on my portfolio on Friday 12AM, September 5, 1997. The nature of the error was such that it was obvously misleading and your own history log reflected a legitimate dividend to my portfolio. 2. According to our taped conversations on September 10, 1997 you admitted that the error was caught on Saturday Evening, September 6, 1997. 3. On Tuesday, September 9, 1997 at 1PM you reversed the divident and put a short into my account for this position which I had closed on Friday PM. 4. All this time you NEVER attempted to inform me of what happened. Your previous statements are basically public lies that you cannot substantiate. You mentioned on our taped conversations that the problem was handled poorly by Datek. 5. On September 9, 1997 I contacted Datek to find out why my buying power had been lost. It was only at that time that Datek confessed that it was their entry error. 6. It wasn't till the end of the day 9/10/97 that operations finally had me talk to you on the phone. In all our conversations I asked you to remove the short position, and your company refused. I even have it on tape asking you to do this while we settle this matter since your system was telling me that I could not cover the short position. You refused to do this. 7. You never informed me of the error. You never returned the calls that you and your other staff promised to return. You never sent me anything in writing until I jumped up and down while complaining to your Compliance Officer and that wasn't till Ocober 1, 1997. 8. I discussed the matter with an SEC representative and they mentioned that you are responsible to reverse the position to the point of your data error. YOU ARE RESPONSIBLE, IT WAS YOUR ERROR! 9. I faxed you and sent you by registered courrier on Wednesday 9/11/97 a request that concluded: "Please remove the short position that you inserted into my account on September 9, 1997 to cover Datek's errors. As I stated over the phone, I am not looking to profit from your mistake, but I cannot allow my portfolio to take a loss due to your errors. After you remove this short position, please contact me so we can follow through on correcting my portfolio to reflect a fair value that would have existed had Datek not made the original entry error. " YOU NEVER REPLIED TO THIS LETTER. Nor followed my request to close this position. Mr. Normile, I view your last comment to me on this thread to be slanderous: "In the intervening time you chose to take advantage of this obvious error and make trades based on this mistaken portfolio." One of your other support people said on record that it is obvious that I did not try to take advantage of the situation. I kept all the funds in Datek's account and I never attempted to withdraw them. I did not take on any new positions after your operations people told me they made an error. Mr. Normile, your comment is not ture and slanderous, it is intentionally misleading and now I have become angry. Yours and the other comments on this thread are obvious attempts to cover up and not fix your errors. I invite your further responses so that the public can see how Dateks top managers cover up on their companies negligence. If you are growing too fast than stop accepting new applications. Don't do it at the expense of your loyal customers. That is an obvious and simple solution. BUT WHAT DOES THAT HAVE TO DO WITH FIXING YOUR ERRORS. FIX YOUR ERRORS. FIX YOUR NEGLIGENT ERRORS. FIX YOUR ERRORS. STOP MSILEADING YOUR CLIENTS. REMOVE THE SHORT POSITION FROM MY ACCOUNT WHILE WE RESOLVE THIS PROBLEM. REMOVE THE SHORT POSITION FROM MY ACCOUNT WHILE WE RESOLVE THIS PROBLEM. REMOVE THE SHORT POSITION FROM MY ACCOUNT WHILE WE RESOLVE THIS PROBLEM. Thank you. Jack Zahran P.S. I just discovered another error you made in my account!!! I can't wait to talk to the Arbitrator. If you found the error on Friday at 12 noon, why did you sell the stock? Were you hoping that they wouldn't notice and you would sneak in a nice profit? Or were you so dumb as to believe that you actually got a stock dividend, if so you blindly invest in stocks that you don't even do due dilligence on. Either way it is not intellegent investing. You either tried to purpotrate a fraud or you did some really stupid unknowledgeable investing. Rod