The carpenter, whose investments evaporated when Tesla stock took a dive, is blaming his financial advisers, saying they gave him bad advice
A Sooke carpenter and day trader who says the value of his investments shot up to $415 million before Tesla stock took a dive and the value evaporated has launched a lawsuit against his financial advisers.
His allegations have not been proven in court, and the defendants have not yet filed responses to the claim. Wanting to move out of his rental apartment and buy his own home, DeVocht contacted RBC private banking to ask if he could get a loan against the equity in his trading account. DeVocht worked with RBC financial advisers and a Grant Thornton accountant.
DeVocht increased his Tesla stock, which reached $415 million in value by November 2021. But in 2022, Tesla shares suffered a series of declines with only occasional rallies.
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