Shammami v. Allos et al

Filing 1

COMPLAINT filed by Mouayad Shammami against Alfred M. Allos, Broad Street Securities Inc., Stuart Burchard with Jury Demand. Plaintiff requests summons issued. Receipt No: 0645-2969573 - Fee: $ 350. County of 1st Plaintiff: Wayne - County Where Action Arose: Wayne - County of 1st Defendant: Oakland. [Previously dismissed case: USDC-EDMI, 2:07-cv-14214, Judge Duggan, Patrick J] [Possible companion case(s): None] (Attachments: # 1 Index of Exhibits, # 2 Exhibit, # 3 Exhibit, # 4 Exhibit, # 5 Exhibit, # 6 Exhibit, # 7 Exhibit) (Sullivan, Donald)

(

Stuart G. Burchard
2030Vallejo Street,#1001
San Francisco,
CA 94123
415.821.3952
i.
V i a E - r l a ia t l ' , r l r r rr , \ , r i : . iir lrir' i { \ , , r l
l
l4 lichruary" | I
20
Vr, PatrickWalsh
CascAdministrator
l-'
lNRn l)isputeltesolution
-55
WesrMonroc.Suitc2600
(ihicago.ll. (10603
Itli:

('nseName: Mouavurl
Shanrnrarni IlroatlStrsct
vs.
Sr"rcurilics. l)crslring
lrrc..
l,l,('. etnl.
('ascNumbcr0lt-01 | 0
5

l)car Mr. Walsh:
l)lease
considerthis
lcttermy pcrsonal
rcsponsc ('lainrunt.
to
Mouayad
Shammarli's
Motiorrlirr
I:nlry ol'l)crlirult.fudgrnent thc casc rclcrenccd
in
I
ertrovc. rcccntlvrcccivecl copy ol'thc
a
Motion.and sinccI do not havethc linancialnlcansto hirc an attomcykr rcspond nty bchall.
olt
I htlpethat you will allow this lettcr liunr mc into thu recurd.I request
that this ntrlion lirr a
dclhult.iudgrnent dcnicd.arrcl tlrc arhritration
bc
that
rrre
against be disrnisscd.
"cxpcrt". .[ohn Nordbc'ck.
lir begin. I hnvc tto idea wherc Mr. Shanrnrami's
camc.up with
'l'his
in dantagcs Mr. Shamntanti!
$20tt.000+
to
is a totalrnisinlcrpretation
ol'Mr. Shamnrami's
tlcL:otult. sinrply an attemptto takc advantagc
arrd
ol'thc lirct that I do nol havc thc ability to
clcl'cnd
rnyscrlt'adequately, lcavingMr. Slramnrarni'snttorney tocolne up with whatevcr
thus
liL'c
amounlhc thinkshc cattget away with. I havcncversccniln,vschedulcs wolkshccls
or
that nta\
prepared backup Mr. Nordbcck's
havcheen
to
conclusirlrr. inclicated prcviousll'
As
in
subnrittcd
documenls. September 2007 Mr. Shanirnanri's
in
olattorncvattcrnptetl br"rllv
to
and cxtorl
iii25.000lionr l]road Street [ry scnding a lcttcr to thc linn dcrnandingmoney. and thcrr
imnrcdiatcl,v"
withclraw"ing(whilc swcaring tht: Irirm l)rincipal.
it
at
Mary Mada.wlrcnshc sirnply
statcd
thatshewas rcquired havcour Firm counscl
to
rcvicw anv suchlctter),(tlxhibitsA. l]. and
('i (Xrvitlusly
this $25.000tttorcthancovcrsdany'"losscs"
that Mr. Shamnrarni
rnighthavc ll'lt
hc hadincurred.
Otherrvisc. attornev
ltis
would rrothavcr
tricclto scttlclirr this anrourrt.
Mr. Shrrmmami wts, ftrr scvcral yenrs, our firm's nrost activc dry trader! Obviousll'.
calculations
rcgardingthings likc turnoverratio (which I arn rrssunring
contrihutctl Mr.
to
"expertconclusion")
Nortlbcck's
have rro placc in calculating activity in his da.v'trading
thc
itccount.
l'm surc vou u'ottldagrcctlratsuchcalculatiurrs t'llorcapprr.rpriatc
rvhcnlookingat
arc
activilv itt conscrt,alivc
accounlssuclras lllAs. As irrclicatccl clocunrents havc alrcadr
in
1'ou
rcrccive'd.
Mr. Shamntanrihad no itttcrttionol' opcning A "conscrvalivc"account:accourll

'l'olcrance
docuntents his Investmcnt
list
Obiectivc "Speculation". llisk
as
his
as'"Aggrcssivc
and
'l'his
Speculation"" his Net Worth as $3.540.(XX). accountwas opcncdand opcratcd Mr.
ancJ
h,v
Shanrmami
liorn day onc ils a clnytradingacoourlt. hc rcqucslcd
and
unclreceived
approval
liorn
our ClearingFinrr to ltavetlrc account
codedas a day tradingaccountso tlrat he could rcceivc
sanie-da,"crs'ditin his nrarginaccountto acconunodatc licqucnt tradingactivitl. At tirrrcs
his
whenhis tradirrg
Mr.
was
activity increasecl. Shanrnrarni asked sevcrul
on
occasions reviewthc
to
activitv in his accountancl.il'hc agreedwith it. sign a letter indicatingthat all tladeswcrc
authorized approved hinr.and that thc activity'
and
by
with his investment
conlbrnred
obiectivcs.
Mr.
cvcrlrcqucstcd received reduction his
antl
in
a
tlixhihitsD. [:. and tr) In addition. Shanrmanri
trtrnsacti<ltt
costs spccilically
bccausc wasdrringsucha largcnumbcrol'tradcs.
hc
Rcgardingrny abilitv to puy any -iudgnrcnt. anl out ol' thc securilv businessand havc
I
rn.r..
Iicenses. was rcccntlt' lirrccd to sign an Olll'r ol'sctLlcrncntwith I"lNItA.
I
rclinquishcd
becauscI did not havc thc nroncv to hire an att()rncvtrt rcspondto trlNRA allcrgations
ol'
in corr.iunctiorr a tirm auclit. havcbccnuncrnploy'cd
dc:lisicncics
with
I
sincc.lulr'2009
and I arn
(whiclrarc cluelo expirc in ahout6 wccks).I anr
currently
uollccting
uncmploynrcnt
hcnetits
activclyscckingrrewemployrnent" nothirrg on the horizorr
is
lrut
Not onlv do I rrothavcthc
-vct.
rcsourccs tight this action.I also dtl not lravcthe rcsourccs pay anv .judgnrcrrt n() lltattcr
to
to
wltatthc arnount. ltavcalrcadyrclaycdtlris lact to Mr. Shammarrri's
I
cuurrscl.
'l'lte
prirnarvreasonthat I rvas
As you know. Ilroad StreetSecuritics no longcr in husincss.
is
Iorced 1o closc llroad Strcc:twas that I bccanrcawil[c that thc l;irnr was having ljnarrcial
pnrblcms.
prinrarilyduo to thc lircttlratmy prcviouspartncrand the liirnr (iompliancc
anclSales
Sttpcrvisorv
l)rirrcipal.
Mary Mada. und ,4llicd ,lllos's supervi.utr.
had bccrtnrisapprcpriating
Itugc sums ol' tnoncy firrnr thc conrpanynnd concc:rling
the lact by prcparing"incrlrrec:1"
tirranciul
lirr
repr)rts rnc. Whcn this cameto liglrt. Ms. Mada abruptl.vresigncd
liorrr thc liirnr.
tlnlirrtunatel.r".
bctbrc arry action could hc taksn on r'nvpart t() rccovsralrv r'rlonev.
Ms. Mada
"bag" and lradto closcoperatiolrs. ol'thc pcrsonal
died. I was lcli holdingthc provcrbial
All
tlrrarrcial
resources had rvcrc irrvested llroad Strcctovcr llrc l4 5,ears was irr opcratiorrs.
I
in
it
Now thcyare goncand I havcbcenlcli with nothirrg.
I hopethat tlris lcttcr will sul'llceas a responsc. that it will hc lirrwardccl thc appnrpriatc
and
lo
Arbitrationl)ancl Menrbers.I havc also lirrwanlcdi.l copy to l)onald l). Sullivan. Mr.
('ounscl.ll'tlrcrc is lurything
Shanrrrranri's
apprcciatc notil'vinu
clse I necdlo tlo. I vr'oulcl
-vor,r
nrc.I canbc oontacted thc adclncss
abovc. via c-tttail 't,.i.",, rtii.iri, , :i .
r)r
at
at
'I'hank
cousielcration.
vou lirr y,ttur
Sinccrelr.

('c:

l)onirld l). Sullivan
i
Via c-mail trl 1, "tiil'