Shaffer & Engle Attorney Files Arbitration Claim Against Ameriprise Financial Services, Inc., Seeks Damages of $10 Million
Claim Filed on Behalf of the Estate of Jeffrey M. Mottern After Alleged Ponzi Scheme
HARRISBURG, Pa., Dec. 9, 2014 /PRNewswire/ -- Jeffrey B. Engle, Esquire with the law firm of Shaffer & Engle, as Administrator of the Estate of Jeffrey M. Mottern, announced today that he has filed a securities arbitration claim against Ameriprise Financial Services, Inc. ("Ameriprise") with the Financial Industry Regulatory Authority's ("FINRA") Office of Dispute Resolution. The claim is filed on behalf of Mr. Mottern's estate to recover on behalf of its claimants more than $10 million. The decedent, Mr. Mottern, was a Hummelstown, Pennsylvania attorney until he was disbarred on October 22, 2013. After an apparent Ponzi scheme Mr. Mottern ran collapsed, leaving local residents with millions of dollars of losses, on March 17, 2014, Mr. Mottern committed suicide. On May 28, 2014, by Order of the Honorable Bruce F. Bratton, Judge of the Dauphin County Court of Common Pleas, Mr. Engle was appointed Administrator of the Mottern Estate. Among Mr. Engle's powers are to take appropriate actions against financial institutions, which may have contributed to the losses incurred by the Estate and its claimants.
FINRA administers arbitrations against broker-dealers, such as Ameriprise. The Statement of Claim seeks to hold Ameriprise responsible for more than $5.592 million of trading losses in Mr. Mottern's Ameriprise account and millions of dollars of Ponzi scheme funds that allegedly flowed through the Ameriprise account. The Estate in this action is being represented by Glenn S. Gitomer, Esquire, of the law firm of McCausland Keen & Buckman located in Radnor, Pennsylvania.
Media Contacts: |
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Court Appointed Administrator for the Jeffrey B. Engle, Esq. Shaffer & Engle Law Offices, LLC 2205 Forest Hills Drive, Suite 10 Harrisburg, PA 17112 (717) 827-4074 |
Estate Counsel Contact: Crystal Garcia Marketing Director McCausland Keen & Buckman 259 N. Radnor-Chester Road, Suite 160 Radnor, PA 19087 (610) 341-1072 |
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SOURCE McCausland Keen & Buckman; Shaffer & Engle
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