DD Support Board and Research Team

[janice shell]

Specifically, Doubek and Walsh allegedly caused Alpine to sell approximately $268,000 in customer securities without notice or customer approval on the basis that Alpine deemed the securities "worthless." The complaint further alleges that without authorization, and contrary to how the term is defined in its customer agreements, Doubek and Walsh caused Alpine to declare 545 customer accounts "abandoned" and to transfer approximately $54 million worth of securities out of these "abandoned" accounts and into accounts that Alpine controlled.

That really was one of the most outrageous things Alpine ever did. Even though the money was eventually returned to the customers from whose accounts it'd been removed.