A financial industry arbitrator in early February sided with Beverley Schottenstein in an elder abuse case, ordering her two grandsons and JP Morgan Chase to pay her $19 million.
Evan and Avi Schottenstein handled their grandmother’s fortune, valued at more than $80 million, until JP Morgan let them go. Through their attorney, they said they acted in accordance with her wishes.
Beverley B. Schottenstein, 94, of Bal Harbour, Florida, who in February won a Finra arbitration award for $19 million against her grandsons, Evan A. and Avi E. Schottenstein, and their former employer, J.P. Morgan Securities.
Attorneys for the nonagenarian petitioner on Tuesday filed a motion in U.S. District Court in the Southern District of Florida seeking to reopen the case to confirm her high-profile $19 million arbitration award, rendered in February by a panel of Financial Industry Regulatory Authority arbitrators against her grandsons, Evan A. and Avi E. Schottenstein, and their former employer.
A written agreement of settlement has failed to materialize despite an oral agreement the Schottensteins had reached in March, according to the filing. Read more
https://cathyschottenstein.com/wp-content/uploads/2021/02/nanny.jpg327328Cathy Schottenstein Pattaphttps://cathyschottenstein.com/wp-content/uploads/2020/09/logo6.pngCathy Schottenstein Pattap2021-04-14 02:19:442021-06-10 01:49:27Schottenstein Settlement Talks Fizzle; Grandmother Reopens Case Against Ex-J.P. Morgan Brokers
Beverly Schottenstein, part of an Ohio retail dynasty, had alleged her grandsons had improperly managed her money.
A financial arbitration group has awarded nearly $19 million to a 94-year-old Bal Harbour woman who claimed her two grandsons, then brokers at JP Morgan Securities, mishandled her money by forging her signature and making unauthorized purchases.
Beverly Schottenstein, whose family fortune came from a string of retail chains, including DSW, American Eagle Outfitters and American Signature Furniture, filed the complaint through the Financial Industry Regulatory Agency, or FINRA, a non-governmental organization that enforces rules and settles disputes involving stock broker-dealers. Read more
https://cathyschottenstein.com/wp-content/uploads/2021/02/nanny.jpg327328Cathy Schottenstein Pattaphttps://cathyschottenstein.com/wp-content/uploads/2020/09/logo6.pngCathy Schottenstein Pattap2021-04-14 01:20:582021-04-15 15:12:40Florida woman, 94, wins $19 million fraud ruling against JP Morgan, grandsons