I’m not sure, but it definitely seems like it to me. If not closed because of my wire request to Kraken, then why was it closed? I was told verbally that it was because “E*TRADE no longer wishes to do business with me.” But I was mailed letters stating that my over 10 year-old account was “recently opened” and that “my personal information may have been used fraudulently to open the account.” Despite what I was told verbally AND the fact that E*TRADE thoroughly verified my identity each time I called in on multiple occasions 7/28/25, 7/29, 7/30, 7/31, 8/1, 8/4, & 8/5.
Then, to add insult to injury, I was told E*TRADE was not sending me a check for the proceeds from closing my accounts. Instead I was to “recall the funds.” When I asked how to do that, he did not know, because there actually is no way for me to recall my own funds from stocks, etfs, mutual funds, & my checking account with E*TRADE as I hadn’t sent them a wire. E*TRADE couldn’t even recall the wire that they did not send to Payward Inc’s Kraken. I was told three times that wire would be sent and that there were no problems with any deposits or my account and that E*TRADE had zero problems sending to Payward Inc / Kraken.
E*TRADE / Morgan Stanley Timeline
Public Version – Prepared for Informational Purposes Only
The following is a factual account of my personal experience with E*TRADE / Morgan Stanley as I understand it, based on my own records, communications, and recollection. All statements reflect my personal perspective and are provided for informational purposes only. I believe them to be accurate to the best of my knowledge, but I make no claim as to their completeness. Any opinions expressed are my own. This post is not intended to state or imply any unlawful conduct by any individual or entity unless such conduct has been proven in a court of law.
06/28/2025 – First check (PSE Credit Union) written.
• (Background fact — sets sequence of events)
07/07/2025 – You deposit the PSE Credit Union check into your E*TRADE checking account.
• E*TRADE mis-posts the $8,000 deposit to the wrong account (brokerage).
• (Negligence / Operational Error — led to financial harm)
07/16/2025 – Second check (S&T; Bank cashier’s check) written.
• (Background fact — sets sequence of events)
07/17/2025 – You receive notice from AMEX that your payment was returned due to insufficient funds
caused by the 07/07 mis-post.
• (Breach of Contract / Negligence — mis-post directly caused payment failure and potential credit
harm)
07/18/2025 – You deposit the S&T; Bank cashier’s check into your E*TRADE checking account.
• (Background fact — source of funds later frozen)
07/28/2025 – After waiting for the cashier’s check to clear and become available, you submit your first
wire transfer request.
• (Contractual Expectation — funds should have been disbursed once cleared)
07/31/2025 – First 4-way call between you, the check writer, the check writer’s bank, and E*TRADE.
• (Privacy Violation — third parties exposed to each other’s private banking information)
08/01/2025 – Second verification call.
• (Continued Privacy Violation)
08/04/2025 – Third verification call.
• Darius from E*TRADE confirms all funds are verified, no risk of recall, and your 07/28 wire will be
released.
• (Potential Promissory Estoppel — verbal assurance of release creates reliance)
08/05/2025 (morning) – You speak again with Darius, answer more questions, and are told the wire
will be sent that day.
• (Further Promissory Estoppel — repeated assurance before reversal)
08/05/2025 (6:50 PM) – You call to check on the wire and are told your accounts are being closed
because E*TRADE “no longer wishes to do business with you.”
• You are told no checks will be mailed; you must “recall your own funds,” which is physically
impossible.
• (Conversion — refusal to return your property; Breach of Contract; Unjust Enrichment)
08/05/2025 (letter date) – Two account closure letters prepared (one for checking, one for brokerage).
• Letters falsely state your accounts were “recently opened” and are being closed because “your
personal information may have been used to fraudulently open the accounts.”
• These contradict the verbal reason given earlier that day and appear intentionally misleading.
• (False Statement; Potential Defamation; Fraudulent Misrepresentation; Bad Faith)
08/13/2025 – You receive the closure letters in the mail.
• (Background fact — confirms notice date but not legally significant for delay)
