A man who turned $88,000 into $415 million before losing it all is suing his investment firm and adviser for failing to provide good advice when making risky trades. 🧐
- Christopher DeVocht accuses RBC Dominion Securities of setting up margin accounts and large loans that led to the loss of his entire portfolio.
- DeVocht made most of his money trading Tesla stocks and options.
- He hired RBC and advisers to help preserve his assets, but the results were less than expected.
DeVocht's portfolio peaked at $415 million on November 30, 2021, but fell sharply in 2022 as Tesla and the stock market crashed.
- He was forced to sell many Tesla shares and pay off debt from his margin account, contributing to the loss of his assets.
- DeVocht claims that RBC and Grant Thornton LLP contributed to his losses.
DeVocht is seeking damages from the court, including legal fees and interest.
- The lawsuit was filed in the Supreme Court of British Columbia in Canada.
- The defendants have not yet responded.
What do you think of this case? Comment below! 💬
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