Pershing - I will be call SEC tomorrow
I am a VET and the VA notified me that my benefits will be cancelled for unreported 1099 the IRS says Pershing LLC issued. $13,000 in dividends.
I own no dividend producing investments and only have $100,000 invested. Doubtful I could get 13% return just from dividends. I am confident there is a mass stealing of funds and fraudulent 1099's are being reported to IRS only I believe Harris BMO is involved as well as they seem to quickly brush it under a rug with a moronic explanation. They claim that the dividends were used to pay fees incurred.
HMMMM $13,000 in dividends earned on $100k or $13,000 in fees incurred from $100k Which is more moronic?
Reason of review: Problems with payment.
Location: Clute, Texas
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I feel you are correct in your assumptions. I am going to file a complaint.
Always the wrong form with them.
I am looking a having to pay a large tax because of the wrong code entered on an IRS tax form. Do not invest with them, you are better off hiding your investment under a rock!
Pershing does not issue dividends dumbo.