Those employed in the financial industry must follow all financial regulations and laws when handling the money of others. If a financial professional violates these rules, they can face both criminal charges and civil lawsuits from their victims. After losing money due to securities fraud in Georgia, hiring an experienced attorney will greatly improve your odds of collecting damages.
At Meyer Wilson, we have been helping clients recover damages from those who have defrauded them for a quarter of a century. Our team of experienced Georgia investment fraud lawyers will work diligently on your behalf to ensure you get the money you need. Contact us by phone or through our website to set up a free case review with a member of our team today.
Georgia Securities Fraud Laws
The securities industry in Georgia is governed by both federal and state regulations. These laws cover a wide variety of deceptive and fraudulent business practices surrounding the sale of securities. Those involved in the sale of securities must have a permit to carry out this action or be registered, or they could face penalties.
Anyone working in the financial industry who presents an investor with distorted information about an investment or withholds vital information may face criminal charges while also opening themselves up to FINRA arbitration and civil lawsuits.
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Common Georgia Securities Fraud Schemes
Securities fraud can take many different forms. While fraudsters continue to develop new ways to cheat people out of their money, some of the most popular schemes have been used over and over again for decades.
Even if you don’t know the specifics of how this type of fraud works, you have probably heard of Ponzi schemes. In this common scam, a fraudster promises investors that they can provide them with significant returns on the money they invest. After signing up a few initial investors, the fraudster will sign up a second wave of investors.
The scammer continues their scam by taking money invested by the new investors to pay the original investors while skimming a significant amount of money off the top. They then use the apparent returns gained by the first wave of the investor to entice others to invest.
This creates a loop where the money of new investors is used to pay earlier investors, and their gains are used to entice new investors. However, this scheme will always collapse under its own weight, as there will come a point where there are not enough new investors to pay the old investors. At that point, the fraudster will have made a significant profit off of the loss of others.
In a pump-and-dump scheme, a fraudster will artificially inflate the value of a stock in which they hold a large stake by convincing others to invest by means of direct or indirect recommendations that use false or misleading information. Once the stock is significantly overvalued, they will sell off all their shares, which will cause the price of the stock to fall.
Anyone who still has their money invested in the stock will lose a significant amount of money, while the fraudster will secure a substantial profit from the sale of their shares at their overvalued price.
While Ponzi schemes and pump-and-dump schemes are among the most common securities fraud schemes in use today, there are plenty of other scams out there that financial advisors may use against their clients for personal gain. If you lost money in a securities fraud scam, an experienced investment fraud attorney can assist you in pursuing damages.
Criminal Penalties for Securities Fraud in Georgia
Those facing charges for securities fraud could potentially wind up serving lengthy prison sentences and be forced to pay hefty fines. The penalties generally increase with the more money involved in the scheme. A fraudster guilty of defrauding a large number of people out of a significant amount of money could end up serving decades in prison.
Another factor in determining the punishment that will be assessed for a conviction is whether the perpetrator is facing state or federal charges. Typically, those being tried in federal court will receive a more severe sentence if convicted.
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Civil Penalties for Securities Fraud in Georgia
Beyond criminal charges, a fraudster may also face civil lawsuits from their victims. If you suffered losses caused by securities fraud, you can pursue damages by filing a lawsuit. By taking legal action, you could potentially recover not only the money you lost but additional compensation for any damages the fraud had on your life.
By working with an experienced securities fraud lawyer serving Georgia, you can significantly improve your odds of getting the money you deserve. At Meyer Wilson, our award-winning team has recovered more than $350 million in damages for those we represent.
You may also be able to file a claim against the financial firm that employs the individual who defrauded you. Your lawyer will work to identify all liable parties in your case to give you the best chance of securing the full value of your civil claim.
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Reach Out to an Experienced Investment Fraud Attorney Serving Georgia Today
After discovering that you lost money as a result of securities fraud, you should hire an experienced lawyer as soon as possible. By getting started on your case early, it will be much easier for your attorney to build a strong claim and recover fair compensation for your losses. The experienced team at Meyer Wilson will get to work on your case right away.
Contact us through our website or by phone to schedule a free case consultation with a member of our team today.
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