As an investor, you may have trusted a financial advisor with your life savings and expect them to guide you through making sound investment decisions. Unfortunately, some professionals take advantage of clients by tricking them into different types of securities fraud, such as Ponzi schemes. In this case, a Ponzi scheme lawyer serving Pennsylvania can help you seek justice.
With over 25 years of experience in investment law, Meyer Wilson has a wealth of experience in navigating financial fraud cases. We’ve successfully recovered over $350 million on behalf of victims of fraud. Call our Pennsylvania investment fraud lawyers for a free consultation.
Why Choose Meyer Wilson for Pennsylvania Ponzi Schemes?
Becoming a victim of securities fraud could compromise your investment account and lead to significant financial losses. Our goal is to help clients recover these losses through effective legal strategies and personalized services.
We have received national acclaim for our advocacy on behalf of investors from coast to coast. Whether facing local or national challenges, we will leverage our knowledge and resources to protect the interests of those harmed by financial misconduct.
There are many advantages to working with our experienced investment fraud lawyers, including:
- Free case evaluation
- Explaining how securities fraud laws impact your claim
- Prompt legal action
- Relationships with the right mediators and expert witnesses
Our Pennsylvania Ponzi scheme lawyers can gather information about your potential lawsuit during a comprehensive case investigation. Then, we can choose the best legal action moving forward based on what will be most effective in obtaining the compensation your losses demand.
We prioritize your needs above all else. That’s why we operate on a contingency fee basis, ensuring that you only pay when we achieve a successful result. We provide accessible legal representation and are confident in our ability to deliver results.
When you entrust your case to us, you can rest assured that we will pursue every available avenue to secure maximum compensation.
What Is a Ponzi Scheme?
If an advisor, broker, brokerage firm, or another party orchestrates a Ponzi scheme in which you lose money, you may need a securities fraud attorney’s help. Unfortunately, this type of fraud is a common form of investment fraud in Pennsylvania.
It refers to someone hosting a nonexistent enterprise and soliciting victims to invest. The scammer will then pay existing investors with money gained from new investors and continue the cycle until they either run out of new investors or cannot pay investors who seek to cash out. When a Ponzi scheme collapses, investors can suffer significant investment losses.
How It All Began
Charles Ponzi etched his name into history as the mastermind behind one of the most notorious financial scams of the 20th century. Born in Italy in 1882, Ponzi immigrated to the United States in pursuit of a better life. However, it was his fraudulent scheme that would catapult him into infamy.
In the early 1920s, Ponzi promised investors lucrative returns through a financial opportunity involving international reply coupons (IRCs). Exploiting the eagerness of investors, he used incoming funds to pay returns to earlier investors. This deceitful practice inevitably unraveled, leading to Charles’ arrest and imprisonment.
How To Recognize a Ponzi Scheme
By being aware of the common signs of fraud, you or your loved ones may be able to prevent substantial economic injury. Federal organizations such as the U.S. Securities and Exchange Commission (SEC) advise investors on how to detect and avoid Ponzi schemes.
Signs of securities fraud, including Ponzi schemes, include:
- Unusual losses in your portfolio
- Untrue statements made by your advisor
- High-return guarantees with little or no risk
- Any guaranteed investment opportunity
- Unsolicited offers to join an unsuitable investment
- Consistent returns even as the market goes up and down
- Unauthorized trading or unlicensed sellers
- Concealed or overly complex investment strategies
- Lack of proper investment documentation
- Difficulty obtaining funds
The first step in recovering compensation after a Ponzi scheme has impacted your life is recognizing that fraud has occurred. If any of these red flags sound familiar, you may be a victim of investment fraud.
Consulting with an attorney from our law firm can help you determine whether you have been the target of a Ponzi scheme. If so, we can help you understand what steps to take next in pursuit of restitution for your damages.
What Can You Do to Protect the Value of Your Claim?
The steps you take immediately after suspecting securities fraud will impact the value of your claim. Discuss what you should do with a securities fraud lawyer to make sure you protect your right to full financial recovery.
You can take the following actions to protect the value of your case:
- Document all relevant information, including account statements, emails, and agreements.
- Refrain from further transactions or agreements related to the disputed investments.
- Seek legal guidance promptly to understand your rights and options.
- Preserve evidence, such as communication records and transaction details.
- Keep thorough records of any financial losses incurred.
- Follow the recommendations of securities fraud lawyers.
- Avoid discussing the case with anyone other than your legal representatives.
How Can an Investment Fraud Attorney Help You?
Attorneys experienced in investment scams operate within a distinct and highly specific area of law. Not all legal professionals have the knowledge required to effectively assist you in seeking damages.
If you fell victim to a Ponzi scheme, an investment fraud attorney from our team can:
- Review your account transactions for indicators of fraudulent activity.
- Uncover and categorize the nature of the investment fraud.
- Identify the parties potentially liable for the scheme.
- Obtain and review your advisor’s complaint record and professional background.
- Navigate the regulations set forth by the Financial Industry Regulatory Authority (FINRA) and guide you through the arbitration procedures.
In our practice, we address instances of investment fraud perpetrated by professionals within the investment industry who betray the trust of their clients. We do not undertake cases involving fraud carried out by individuals unaffiliated with brokerage firms.
Contact Our Ponzi Scheme Attorneys Serving Pennsylvania
You may be eligible for financial recovery for your past and future losses caused by a Ponzi scheme. Our Pennsylvania Ponzi scheme attorneys have many years of experience handling cases related to this type of investment fraud.
Meyer Wilson can help you fight for a fair compensatory award against any defendant. This could include recovery for economic and noneconomic damages. Contact us to learn more about your specific case during a free investment fraud consultation.