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Monday, June 17, 2024 | Back issues
Courthouse News Service Courthouse News Service

Iranian Says Ameritrade Deceived Him

BIRMINGHAM, ALA. (CN) - An Iranian citizen says TD Ameritrade defrauded him by failing to disclose that he would not have access to his accounts while visiting his sick mother in Iran because Ameritrade was afraid of being charged under the "Trading with the Enemy Act."

Hossein Nilipour says that when he told Ameritrade he would be in Iran for a long time, it trained him to use its Apex trading system so he could continue his daily trading there. But he claims in Jefferson County Court that when he got to Iran, Ameritrade froze his accounts, causing him to suffer "large financial losses." Nilipour says he had to go to Dubai to stop the financial hemorrhage.

Represented by Stephen Heninger, he demands punitive damages for fraud, breach of contract, negligence and emotional distress.

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