Jun. 05, 2021
Thank you for taking action against Robinhood. I held over $15,000 on Robinhood from 2017 to April 2021. They caused me significant damages in mishandling my account. They cost me large amounts of money by misleading me on their revenue model, their margin agreement that contradicts itself and their actions when I was attempting to remove my assets from their platform. They intentionally delayed my requests for basic account information that was critical in executing my transfer of assets. It took nearly 3 months and hundreds of attempts to contact Robinhood support. They simply never responded to multiple requests by my broker to transfer my assets They had several representatives lie to me and give me incorrect, unsolicited financial information that caused me to take losses on assets I didn't want to sell. Their customer service representative blocked my ability to request live help for more than 3 weeks. They did this intentionally to prevent me from accessing help via the only means they provide. Robinhood needs to be fined significance more or there is no incentive to stop defrauding retail investors. $65,000,000 is just the cost of doing business for them and amounts to a speeding ticket for a billionaire. Please seek damages that are equal to the amount they profited from their fraud and add additional punitive damages that come from their executive's compensation to discourage this type of behavior from ever happening again. I had no idea that my trade data was sold so people can profit from it. I had no idea Robinhood could manipulate the market and lie to account holders. They are incredibly scummy and prey on retail investors inequality in the real market. Please stand up to these career criminals and help actually democratize finance by dismantling payment for order flow & predatory behavior towards retail investors. Actions by firms like Robinhood, Melvin Capital, Citadel and others has shaken my confidence and faith in the US financial markets and I do not trust that regulators are actually looking out for people like me. It seems that the markets are inherently built to support hedge funds and large corporations at the expense of everyday American's savings, retirement, home equity, purchasing power and overall ability to use the financial markets to build wealth. Please actually punish these criminals! Casey