This case involves alleged securities fraud and breach in fiduciary duty. The plaintiff is an investor who was working with a broker (an employee of a capital market asset management firm). The broker was managing a substantial fund but started to move forward with unauthorized trades into highly speculative investments, disregarding clients’ risk tolerance. He was also soliciting loans from clients of the firm due to personal financial distress. He left the firm on bad terms and started at another brokerage house, which knew of his transgressions. Over the course of 2 1/2 years, the broker continued speculative and unauthorized trading, claiming it was part of a “trading strategy.” He left abruptly in 2013 and turned himself into the FBI and SEC and is currently in federal penitentiary. During his tenure at the initial firm, the broker allowed a wave of options to expire with no value whatsoever. The broker did not advise the investor of those positions or to liquidate at a loss to retain some of the value.