My complaint:
My name is Ella Zaritzky and my address is 415 Rhoda Drive, Lancaster, PA. My phone number is 717-560-1906.
I currently own 1300 ADR’s of Mobile Telesystems (symbol MBT) which is a Russian telecommunications company.
I purchased MBT in my IRA account with TD Ameritrade on January 13, 2022, for $9928.93. My account number with TD Ameritrade is 238974043.
I opened my IRA with TD Waterhouse in 1999, so I have been a customer for 23 years. My husband and I currently have several accounts with TD Ameritrade, for a total of $2.2 million.
Here is my problem. These ADR’s were delisted due to the sanctions on Russia, as I was told by TD Ameritrade when I called in August, and I now have no other recourse but to lose my investment in total. That is $9928.93.
My TD Ameritrade statement dated 43022 listed the total value of MBT as $7895.78. As of May 1st., I could not access MBT in order to sell and try to salvage some of my investment. TD Ameritrade told me just to take the loss and gave me the phone number of OFAC.
J.P. Morgan, who initially issued these ADR’s, provided a DR Market Announcement dated July 1, 2022, that indicated the final date for trading MBT had been extended until 7-13-22, for cancelling DR’s and converting to ordinary shares. I’m sure that TD Ameritrade was aware of this announcement and did not notify me. I’m also sure that BIG investors were notified so they could take action before it was too late.
I also requested assistance from my local branch of TD AmeritradeCharles Schwab, and was told that there was nothing they could do (Jayson Weyforth).
I am not a satisfied customer and I am requesting your assistance to help me recoup my loss. I do not think that TD Ameritrade handled my investment properly and question whether they can be trusted to adequately protect our collective $2.2 million investments in the future.
I do not want to be pushed back to my local office because they did not try to resolve the issue.
Suggested solution:
Credit my IRA account 238-974043 with $7895.78 which was the value of MBT on April 30, 2022, when I still had access. If I had been notified by TD Ameritrade prior to just stopping access to my investment, I could possibly have been able to recoup some of my loss at that time.
