2013 Starts Off with Allegations of Investor Fraud by 90 Year Old South Florida Man

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Coral Gables attorney Robert N. Pelier files lawsuit on behalf 90 year old in Miami Dade Circuit Court who claims fraud and negligence against his broker and brokerage firm.

90 year old Algernon Russell, a retired airplane mechanic for Pan Am, thought his lifetime savings investment was safe with Cape Securities, Inc., a brokerage firm headquartered in Georgia, but licensed in the State of Florida. Russell has filed suit claiming that close to $280,000.00 of his hard earned money was withdrawn without his permission from his investment account. According to the Complaint filed yesterday in Miami-Dade Circuit Court Case number 13-904, Russell alleges that these funds were taken without permission and deposited in the personal account of Paul Elvidge, Jr., the account representative at Cape Securities responsible to financially advise Russell and protect his money.

In the wake of his growing concern regarding the whereabouts of his money, Mr. Russell decided that he would engage the services of Robert N. Pelier, a Coral Gables trial lawyer who has handled cases for others involving legal claims such as these.

Pelier stated, "I was approached by the Russell family right before the Christmas holiday and learned what had happened to Mr. Russell. Needless to say, I was motivated to take immediate action." Pelier has filed a civil action against Cape and Elvidge seeking compensatory and punitive damages alleging among other things, that the Defendants breached their duties to his client in failing to protect and preserve his money. We have reported this to law enforcement and industry, regulatory enforcement agencies."

For a copy of the lawsuit or more information regarding this story, contact: Jennifer Cruz at Jcruz(at)pelierlaw(dot)com 305-529-9199

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Jennifer Cruz, FRP
Law office Robert N. Pelier, P.A.
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