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Financial victim

asssailedCasual Contributor08 Feb 2017, 9:01 pm AEDT

Financial victim

I got my mothers inheritance and at thev recomendation of the australian newspaper went to canaccord Genuity one of thje worlds biggest stockbrokers they bought shares for me and said you have nothing to worry about as we have given you a written guaranttee you keep them for two and half years and any loss at end of that we will refund it you cant lose the general manager said only win But the shares quickly fell to nothing almost and they then said we wont honor the guarantee So Ive lost the lot It seems there is not a soul anywhere who will help me on this matter

2 replies

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In response to: Financial victim

SaharaSenior Contributor09 Feb 2017, 7:08 am AEDT

Re: Financial victim

@asssailed,

I'm so sorry to hear this happening to you. Have you tried going to a community legal centre for advice?

I did not know that shares could be 'guarunteed' and this seems very odd to me. If all the risk were removed in buying shares, then everyone would be buying them and everyone would be rich. It's a bit like having a guaruntee on a lottery ticket, isn't it? We would all be buying a ticket every week, if that were the case!

It does sound like you were deliberately mislead by these stock-brokers. If a community legal centre can't help you- maybe you could get a private lawyer on a "no-win, no-pay" basis. I think a lot of them offer a free consultation.

So sorry to hear about this.

In response to: Financial victim

Unknown userMember09 Feb 2017, 11:49 am AEDT

Re: Financial victim

Hi there @asssailed,

Thank you for sharing and a big welcome to the forums, I hope you find some answers and support.

That sounds very unfair and stressful losing that money, I agree with @Sahara about seeking some legal advice, you could also try calling Legal Aid to get some advice on some steps as to how to resolve this ?

Legal Aid

http://www.australia.gov.au/content/legal-aid

Lunar 🙂

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