Canadian Carpenter Sues RBC Over $306M Tesla Trading Loss

Christopher DeVocht claims inadequate financial advice led to his massive fortune disappearing during the 2022 bear market.

Christopher DeVocht, a carpenter from Vancouver, turned an initial C$88,000 investment into C$415 million by trading Tesla stock and options.
DeVocht's lawsuit alleges that the Royal Bank of Canada and Grant Thornton provided negligent financial advice that led to his substantial losses.
The lawsuit claims that DeVocht's advisors failed to account for his limited financial knowledge outside of trading Tesla options, contributing to his downfall.
DeVocht was advised to incorporate a company and make charitable donations to lower tax liabilities, which he claims further eroded his wealth.
He took out margin loans against his Tesla holdings, and when the stock price fell in 2022, he was forced to sell at a loss, wiping out his entire net worth.