Broker Seeks $35 Million From Customers of Wiped-Out Fund Manager
- FCStone seeks $35.3 millon after liquidating client accounts
- Exposure to losses not yet determined, FCStone says in filing
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For investors wiped out by OptionSellers.com’s disastrous trading in the natural gas market, the ordeal isn’t over, as a brokerage that handled their accounts pursues them for millions of dollars.
INTL FCStone Inc. liquidated about 300 client accounts managed by OptionSellers after their balances fell below minimum margin requirements. The brokerage is now seeking $35.3 million it says it’s owed by the clients, according to a Nov. 28 filing.