Look at it this way, You are risking $1250 to make $5K -- you may get legal fees back too. You even have a reasonably good expectation that you will win. Seems straight-forward enough. Good luck.
With all due respect sir, let's give this gentleman the benefit of the doubt. I am certain that if you were in his situation and an anonymous individual took such an adversarial position, you would be quite incensed. Lest not we forget that there has been a great deal of focus on dual authentication standards going forward in the next few years. I also noticed that E-Trade was rolling out security tokens in a press release around March of this year which were to be made available sometime around May. Since I have no account at this firm, I cannot corroborate whether these were made available in a timely manner.
http://news.com.com/ETrade+adopts+additional+security+for+traders/2100-1029_3-5594914.html "Traders who make at least 15 trades a quarter or carry a minimum account balance of $50,000 can apply to be part of the new program and will receive the security device for free." https://us.etrade.com/e/t/jumppage/viewjumppage?PageName=secureid_enter "The E*TRADE CompleteTM Digital Security ID will be provided at no cost to qualified customers who maintain a combined balance of $50,000 or more in linked E*TRADE Securities and E*TRADE Bank accounts or execute 30 or more stock or options trades per quarter. Qualification for the following quarter will be determined at the end of each quarter. " http://www.computerworld.com/securitytopics/security/story/0,10801,106368,00.html "Token-based Authentication Is a Success for ETrade But CIO says firm is still evaluating technologies"
DHOHHI, Etrade froze my account and would not give me specific information regarding my ACH unwarranted transfer. When asked for the routing number and information regarding the withdrawal since they froze my account, they would not relinquish the information. They told me it went to Russia. That was it. If they would have given me the information regarding the transfer instead of just freezing my account, I would be under the assumption that ETRADE did not TAKE MY MONEY. All they did was say too bad, write us a certified letter. Given their lack of divulging information that would be helpful in getting my funds back, would you now also think that Etrade may be in cahoots with this imaginary(they say real but give no specific information when asked) Russian guy? Obviously, you are an Etrade customer who either works for etrade or luvs their impenetrable security system that they advertise on TV nonstop. That is ok with me. I am sure others have also had wonderful etrade experiences. I USE to be one of them. Lets hope my experience does not happen to other people. LOOK, I am ok with a 5 grand loss. I am not OK with how they treated their customers. I am currently in touch with people who have lost much more than me. These are the people I am speaking up for. DHOHHI, you may not understand as you can not see it from a person who lost 100k+ . If you lost 100k and etrade did not do its best to help and instead froze your account and said FU, than you would be much more irate than me. Which I am really not. My hope is to help other people who are current etrade customers to take the necessary precautions or take a much bigger look before jumping in with Etrade. Have a great holiday weekend everyone. Edit: i deleted the mean stuff I said about DHOHHI's. Its not necessary and we are all friends and traders. My apologies.
Thankyou very much. Those were kind words. I will let you know on this board what i decide to do. I am in touch with others who have lost lots more and want to see if we combined can have a better case.
Perhaps you don't understand the law and the legal interpretations of libel, slander & defamation. If he cannot prove the statement that E*Trade "stole $5 grand" he could face a suit. Simple as that. It is your statement that is incorrect (that there is "no chance" he could be sued). If you doubt me then go educate yourself regarding the legal interpretations of the above.
Regarding your 1st paragraph. If you make accusations that they stole the money the burden of proof is on you. You can fire back and flame me if you wish. Check the law. If you were sued for libel or slander it would be necessary for you to prove your statement to be true as the defendant is innocent until proven guilty. I have a very good friend who has considerable background in libel/slander and I was merely offering suggestions. Your 2nd paragraph is a sad commentary of someone clearly upset and emotional. I am not, and never have been an employee of E*Trade. I've had accounts for over 10 years with no problems. That said I also take precautions to protect my accounts and safeguard my PC. My character is "low quality"? It's not my fault you apparently failed to read my initial post. I stated it was "unfortunate" that you had a loss. I stated my experiences with E*Trade. And I ended with suggestions on how one needs to take precautions to keep their PC safe from hackers. If that makes me a "low quality" person I'll gladly continue to be such. You, on the other hand have made emotional statements about me that you cannot back up with any facts.
I deleted my negative statements about you or too you. Its not necessary and I am sorry. If you take a look, I edited my post before you posted this. I also took you off ignore. Very futile. This is not about you and I. More like informing customers of exactly what my experince is as I feel it would be helpful to others.
And my intent was to offer suggestions. Sadly, hackers (or keeping them out) are a part of anybody's life who uses the internet. We all need to protect our PC, private info, etc. as best we can. That was my suggestion. My point about libel and slander was based on a good friend who practiced law for many years and what he's told me over time. He always said to never make accusatory statements I couldn't back up. I thought you might want to edit or delete your rating on E*Trade to tone it down a bit. I can understand your being upset with the situation you're in. I hope you get things resolved in a fair and equitable manner.
My first inclination was that someone(NOT ETRADE) had withdrawn my money. When trying to get information regarding the withdrawal, Etrade would not relinquish the paper trail. They instead froze the account and later closed it. The only option they gave me was to write them a certified letter with my complaint. Given the info that they gave me, I then asked the guy that I was speaking to that maybe ETRADE stole the money since they were not relinquishing the info. He said he understood where I was coming from but he could not do anything about it too relinquish more info. Who knows, these guys are being very tight lipped like they are covering or saving their asses.Why would they do that if they werent responsible at all? They would be trying to help me instead of becoming an advesary.