Philadelphia, PA November 30, 2018— James Cordier, the founder and head trader of OptionSellers.com, recently notified investors of a catastrophic loss event.
Some clients were left with a negative account balance, meaning they are in debt to INTL FCStone Inc. because of the use of leverage, or using a smaller amount of money to make larger bets.
FCStone also allegedly allowed OptionSellers.com to trade investors’ IRA accounts on margin, a strategy which is usually not permitted in IRA accounts.
FCStone also allegedly did not have sufficient procedures and detection controls to prevent the high concentrations of so-called naked natural gas call options and naked crude oil put options that caused investor losses.
James Cordier had also previously advertised to investors that OptionSellers.com’s goal was to take an aggressive vehicle and manage it conservatively.
Investors may have claims if OptionSellers.com had unsuitably allowed options trades in IRA accounts on margin and did not trade options conservatively.
If an investment firm makes unsuitable recommendations to its client such as a risky trading strategy and breaches its fiduciary duties it may be held liable for investment losses.
OptionSellers.com reportedly took minimum investments of $250,000, and the firm was registered with the Commodity Futures Trading Commission as a commodity-trading adviser.
The Goldman Scarlato & Penny PC Law Firm has received multiple notifications from OptionSellers.com investors from investors that they have lost thousands of dollars with investments in OptionSellers.com.
Investors who believe they lost money as a result of OptionSellers.com’s alleged commodities fraud scheme may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at firstname.lastname@example.org, or through the contact form on this webpage.
Goldman Scarlato & Penny is a nationwide plaintiff’s rights and class action law firm.
For more information on Goldman Scarlato & Penny, please visit www.lawgsp.com.