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The Sarbanes Oxley Act :: View topic - "Churning" a decedant's stock portfolio.
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"Churning" a decedant's stock portfolio.

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Joined: Jul 27, 2005
Posts: 38

PostPosted: Fri Dec 23, 2016 8:16 am    Post subject: "Churning" a decedant's stock portfolio. Reply with quote

Hello forum people.

Not sure if this is the best forum to ask question, but I have had a problem with my fathers' estate in that a spendthrift was put in charge, and now there appears to be no stock portfolio left.

The Trustee sold off what was now worth about a million bucks worth of stocks fairly diversified portfolio. The Trustee paid a maximum in capital gains taxes for the instant gratification of going from bankrupt to big shot in just two short months.

He used the decedent's taxpayer id number, so he could mask the transactions. (state case law here is that the person getting the capital gain pulls their own tax.)

Now I am in a situation where it appears $168,000 has been paid in capital gains, my third would be $56,000,

For this amount of capital gains imputed on me I see approximately 4500 in checks I received from the sale of stocks.

As much as dad planned a better way , the fraudsters have been busy helping the 2/3 majority abscond and conceal their crime. In nearly six years there has been no accounting and the Judge has been ineffectual at compelling an accounting.

What penalties are there for dumping stocks, fraudulently disguising the actual profiteers by using a dead guy's taxpayer id and "Churning" commissions by liquidating stocks for absconders? And where would I find about about the seller's liability for doing such a tax fraudulent scheme if this has nothing to do with S-Ox issues?

Any lawyers know about multi district litigations?
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Joined: Jul 27, 2005
Posts: 38

PostPosted: Sat Apr 01, 2017 8:32 pm    Post subject: Reply with quote


As if this wasn't at the top of the list already.

I thought I had posted something, but because it was STILL at the top of the list I couldn't find it. Has posting dropped off that much or are all the questions answered?

Wasn't someone trying to buy this forum at one time?

Here's one question to add. Does anyone have any rule 10(b) 5 experience?

What constitutes discovery of the violation in the case of concealment oF THE fraud?

Does statute of repose mean if you do not discover in three years the fraud goes in the books as if it was adjudicated? Would state statutes of garden variety fraud substitute for 10 (b)5?

As if any judge even follows the rules anyway...

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