Man sues after losing $415M fortune made from Tesla trades

Christopher DeVocht, a Canadian investor who reportedly turned $88,000 into $415 million through Tesla options trading, has filed a lawsuit after losing his entire fortune. 

DeVocht claims that his investment firm, RBC Dominion Securities, and its advisers provided inadequate advice, which led to the collapse of his portfolio. 

DeVocht's financial troubles began in 2022 when Tesla's stock, along with the broader market, started to decline. 

DeVocht had amassed significant wealth by trading Tesla shares and options. 

However, as the stock market faltered, he was forced to sell many Tesla shares and repay loans from his margin account, triggering the loss of his entire investment. 

DeVocht asserts that RBC Dominion Securities, along with his financial advisers, including a tax adviser from Grant Thornton LLP, failed to provide proper guidance. 

According to the lawsuit filed in the Supreme Court of British Columbia, DeVocht argues that their failure to implement strategies to minimize risk directly contributed to his financial downfall. 

He claims, "But for the defendants’ inadequate advice... the plaintiffs would have preserved a substantial portion of their wealth." 

DeVocht is now seeking court-ordered damages, legal costs, and interest. 

The defendants, RBC Wealth Management Financial Services and Grant Thornton LLP, have yet to respond to the lawsuit.