• New Lawsuit Involves RICO charges

    Kristen Shaughnessy reports that a new Lawsuit has been filed in the Southern District of Florida.

    UPDATE MAY 28, 2024: Summonses sent out to TradeStation and FINRA.

    This lawsuit involves the uber-serious rico charges. A Racketeer Influenced and Corrupt Organizations (RICO) charge is a claim that someone has violated the RICO Act. The RICO Act was passed in 1970 and applies to 35 criminal offenses, including those often associated with organized crime. These offenses are considered “rackets,” which are dishonest services that exploit a need created by the service provider.

    Read about the full lawsuit and the major points below.

    The lawsuit is being filed by the Basile Law Firm on behalf of one of their clients against Tradestation and FINRA.

    Case documents are available at this link.

    It’s important to note that RICCO cases have much stiffer penalties and can be 20 years per racketeering count.

    JunkSavvy lays out the 12 causes of action in her recent tweet.

    William Farrand discussed the lawsuit in detail on one of his livestream’s linked here.