• Report: #807609

Complaint Review: Daniel Ford Green - Wells Fargo Advisors, LLC

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  • Submitted: Sat, December 10, 2011
  • Updated: Fri, February 24, 2012

  • Reported By: Glennr1 — Lake Alfred Florida United States of America
Daniel Ford Green - Wells Fargo Advisors, LLC
100 E South Street Charlottesville, Virginia United States of America

Daniel Ford Green - Wells Fargo Advisors, LLC Daniel Green was caught churning my 86 year-old mothers account - refused my POA when I (her son) stepped in. Charlottesville, Virginia

*Consumer Comment: GLENNR1, YOU CAN CONTACT ALL OF YOUR LOCAL NEWS STATIONS......

*Author of original report: Updated Information

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On October 9, 2011 my 86 year old mother was admitted to the hospital in a life threatening condition. As her Power of Attorney I started going through her bills to make sure they were being paid. I ran across a Wells Fargo Advisors, LLC statement and noticed that my 86 year old mother had just made a large purchase of stock in Merck Pharmaceuticals. This threw up a huge red flag, and I started investigating.

The advisor on the account was listed as Daniel Ford Green. I contacted him and gave him a copy of my Power of Attorney. I was later contacted by phone and Wells Fargo Advisors stated that they would not honor my POA. The more I dug through my mother's statements the more I found. Wells Fargo Advisors had acquired her account when Wells Fargo took over Wacovia.

I have now reviewed statements all the way back to early 2005. The portfolio objective was, and still is, listed as "conservative growth". From early 2005 through early 2009 neither of my mother's previous advisors made any changes to her portfolio. That account was set up prior to my father's death. My mother knows little to nothing about securities and investing.

Within a few months of taking over my mother's account Mr. Green drained the cash out of her account and started making trades in order to make large commissions. In less than 2 years he made over $62,000.00 in trades taking her from a very conservative portfolio to a high risk portfolio with almost no cash left in the account at any time.

This man is a predator who preys on the elderly to line his own pockets. It's my understanding, from speaking to one of my mother's previous advisors, that Mr. Green has dozens of elderly clients under his advisory. He needs to be stopped.

This report was posted on Ripoff Report on 12/10/2011 11:25 AM and is a permanent record located here: http://www.ripoffreport.com/r/Daniel-Ford-Green-Wells-Fargo-Advisors-LLC/Charlottesville-Virginia-22902-5215/Daniel-Ford-Green-Wells-Fargo-Advisors-LLC-Daniel-Green-was-caught-churning-my-86-year-807609. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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REBUTTALS & REPLIES:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

GLENNR1, YOU CAN CONTACT ALL OF YOUR LOCAL NEWS STATIONS......

AUTHOR: Karl - (USA)

and send them a copy of your Ripoff Report and put it to the attention of 'Investigative Reporter'.

Maybe one of them will contact you and do a story on TV. If this happened to your mother, then it would be safe to assume that it is happening to other elderly people, right? If an Investigative Reporter at a Local News station did a story on TV, it would alert others about what might be taking place in regards to their money.

Just send an email to all of your Local News stations in your city and include a copy of your Ripoff Report. It would be a good idea to send copies through the mail too. If you are contacted and someone decides to do a story on TV, let us know so we can watch it on the web.

Good luck.

P.S. Make sure to send a copy of your Ripoff Report to the CEO of Wells Fargo so he knows what is happening. Simply 'Google' this- WHO CONTROLS THE UNITED STATES ECONOMY BY MAJORITY 2010, and watch that 4 minute video on the web.
The CEO of Wells Fargo appears towards the end of that video. Get his name and send him a copy of your Ripoff Report to Wells Fargo's corporate headquarters immediately.
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#2 Author of original report

Updated Information

AUTHOR: Glennr1 - (United States of America)

The person with Wells Fargo Advisors who was my "complaint resolution specialists" within Wells Fargo Advisors Law Department, Christopher T Digirolamo, seems to have legal issues himself. That is if my search of Madison County, IL court records at http://www.co.madison.il.us/circuitclerk/eMagnusLite.shtml and St. Clair County, IL court records at http://www.circuitclerk.co.st-clair.il.us/icjSearch.htm reveal records of the same person.

Now I am finding that the Wells Fargo Advisor, Daniel Ford Green, who was the advisor on my mother's account filed for chapter 7 bankruptcy in federal bankruptcy court on 10-28-2010. The case was finalized on 2-9-2012.

I think this reflects on both the motive for what I see as unwarranted trades on my mother's account for the sole purpose of generating commissions and the cover up Wells Fargo Advisor's legal team has launched to hide the facts.
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