Hedge Fund IsZo Says Jefferies 'Hijacked' Its Brokerage Account The investment bank held back $5 million of IsZo’s money, later reduced to $2.5 million, to secure seven short positions in securities that are now worthless, IsZo claimed in an arbitration claim filed this week with the Financial Industry Regulatory Authority, or Finra. “Even the barest modicum of diligence would have revealed that there is no danger that any of the 7 legacy short positions could ever become a meme stock,” IsZo said in the filing. “The securities – to the extent that they even exist – have no trading market at all.” A representative for Jefferies declined to comment. IsZo is seeking to win the return of its $2.5 million from a Finra arbitration panel. The hedge fund also claims it was overcharged on the $28 million in fees and interest paid to Jefferies in the five years it maintained its account with the firm. It’s seeking to get some or all of it back, in addition to fees Jefferies continues to charge, according to IsZo founder Brian Sheehy. https://finance.yahoo.com/news/hedge-fund-iszo-says-jefferies-130000061.html