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Securities Law

Robinhood Users Say Accounts Were Looted, No One to Call (2)

Oct. 9, 2020, 8:40 PM

It took Soraya Bagheri a day to learn that 450 shares of Moderna Inc. had been liquidated in her Robinhood account and that $10,000 in withdrawals were pending. But after alerting the online brokerage to what she believed was a theft in progress, she received a frustrating email.

The firm wrote it would investigate and respond within “a few weeks.” Now her money is gone.

Bagheri is among five Robinhood customers who recounted similar experiences to Bloomberg News, saying they’ve been left in limbo in recent weeks after someone sold their investments and withdrew funds. Because the wildly popular app...

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