Investment fraud has become very common in the United States. Reports indicate that victims lost over $3.5 billion through instances of investment scams in 2022, demonstrating the prevalence of this type of fraud.
Fortunately, you have legal options to get the compensation you need if you experienced investment misconduct. A Columbus investment fraud lawyer can review your losses and help you determine if you have a valid claim for compensation.
How Common are Acts of Investment Fraud?
According to information provided by the Federal Trade Commission (FTC), investment fraud represents the fourth most common form of fraud experienced by consumers in 2022. New FTC data show consumers reported losing nearly $8.8 billion to scams in 2022, with $3.8 billion in losses coming from investment scams.
So, how common is investment fraud? This type of misconduct represents one of the most common types of fraud experienced around the country. Individual acts of fraud and financial misconduct can cost investors millions of dollars.
Fortunately, you can get help if you face this type of misconduct. You can get help from a legal professional who can explore options to help you get fair compensation after a financial advisor engages in misconduct.
What are Common Types of Investment Fraud?
Common types of investment fraud can include any acts of misrepresentation and omissions when it comes to making financial decisions. Additionally, investors may face misconduct involving:
- Hedge fund fraud
- Churning
- Margin trading
- Asset allocation
- Failure to supervise or failure to execute
- Overconcentration
- Ponzi schemes
- Unauthorized trading
- Private placements
You can reach out to an investment misconduct lawyer for help assessing your situation. An attorney can review the facts about your investments and determine if you faced fraud. You may have a valid claim even if you ran into a less common form of investment fraud.
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How do You Handle Investment Fraud?
Generally, individuals can handle investment fraud through Financial Industry Regulatory Authority (FINRA) arbitration. What is FINRA arbitration? This type of arbitration is a legally binding process wherein both sides of a conflict present their case, and then an arbitration board makes a decision about the situation.
Generally, individuals agree to accept FINRA arbitration in times of conflict when working with an investment firm. Therefore, acts of investment misconduct do not go through the court system in most situations.
An attorney can explain what happens during an arbitration hearing in more detail and help you determine if your case should go before FINRA.
Will You Get Your Money Back After Investment Fraud?
You may get back the money you lost because of investment fraud by going through FINRA arbitration. You can improve your chances of securing fair compensation by hiring a lawyer to represent you during the arbitration process.
Attorneys know how common investment fraud is and understand the strategies that can help you successfully resolve your claim through arbitration.
You are not alone if you’ve experienced investment fraud. It’s a common form of misconduct around the country, and you can get the help you need to move forward from a team of legal professionals.
Our lawyers are nationwide leaders in investment fraud cases.
How Long does it Take to Handle an Investment Fraud Claim?
The time it takes to resolve an investment fraud claim through FINRA arbitration will vary based on several factors. In some cases, the arbitration process may take around a year and a half from beginning to end.
However, most of the wait time deals with the investigation process and waiting for your hearing. Generally, the hearing itself only takes a week
You can expedite the process of getting compensation for investment fraud by hiring a lawyer. Attorneys know how to guide you through each step of the arbitration process and how to deal with stall tactics from the party that engaged in financial misconduct.
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What does it Cost to Hire an Investment Fraud Lawyer?
The cost of working with an investment fraud lawyer will vary because firms generally take on these cases using a contingency fee system. A contingency fee system means that you only pay for legal fees after the firm resolves your claim.
After the resolution of your investment fraud claim, the law firm will receive a percentage of the final value of your claim. Therefore, the cost changes on a case-by-case basis.
Talk to Us if You Experience Investment Fraud
How common is investment fraud? Every year, investors lose billions of dollars due to this form of misconduct, making it sadly common. If you lose money due to someone else’s misconduct, you can reach out to our team at Meyer Wilson for professional help.
We have over 75 years of combined experience and the resources to help with every aspect of your claim. We’ve assisted thousands of clients like you, bringing them over $350,000,000 in compensation for the losses they sustained.
You can easily reach out to us for help by calling or completing our online contact form.
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