When you trust your life savings to an advisor, you expect them to look out for your financial interests. Unfortunately, some advisors engage in Ponzi schemes or other forms of misconduct. If you notice any red flags in your investment portfolio, a Ponzi scheme lawyer serving North Carolina will stand up for your rights.
With a collective experience of over 75 years in investment law, Meyer Wilson has recovered over $350 million for clients. Our team of North Carolina investment fraud lawyers is dedicated to fighting for justice. Call our law firm today for a free initial consultation.
Why Trust Us With Your Ponzi Scheme Case
Financial misconduct is a threat to any investment portfolio and can result in considerable losses. An investment fraud lawyer from our team will protect your financial security by creating a personalized legal strategy. We want to hear all the details of your case so we can find a suitable solution for your situation.
We deal with cases of investment fraud orchestrated by professionals within the investment industry. Our firm represents investors who were affected by fraudulent activities linked to brokerage firms and other financial institutions.
There are many advantages to working with our experienced legal team on your Ponzi scheme claim, including:
- Free legal consultation
- Reliable legal support
- Strong relationships with expert witnesses and mediators
- Insight into how North Carolina’s securities fraud laws impact your claim
- You only pay us if we win
Don’t hesitate to reach out to us if you suspect securities fraud. Even if you’re uncertain, we’ll assess your case and guide you through the next steps. The sooner you contact us, the more time we’ll have to work on your claim.
Understanding How a Ponzi Scheme Works
These fraudulent schemes entice investors with risk-free, high returns. They use funds from new members to pay returns to earlier investors, creating a false impression of profitability.
Rather than generating genuine profits through legal investment methods, the funds are often diverted for personal use. Ponzi schemes collapse when there are not enough new investors to maintain payouts, leading to substantial financial losses for members.
The First Ponzi Scheme
Charles Ponzi became famous for engineering one of the biggest financial scandals in history. Born in Italy in 1882, he immigrated to the United States seeking a better life. In the 1920s, Ponzi launched a scheme revolving around international reply coupons (IRCs), promising investors high returns with minimal risk.
Taking advantage of his investors’ trust, he accumulated substantial funds. Rather than fulfilling investment obligations, Ponzi diverted funds from new investors to pay returns to earlier ones. This fraudulent cycle eventually unraveled, leading to his arrest.
Famous North Carolina Ponzi Schemes
The Ponzi scheme orchestrated by Keith Franklin Simmons involved a fraudulent foreign currency investment scheme that duped investors out of $40 million. Simmons, who received a 50-year prison sentence and was ordered to pay over $35 million in restitution, was charged with securities fraud, wire fraud, and money laundering.
Another famous North Carolina Ponzi scheme involves Sidney and Charlotte Hanson, who defrauded retired and elderly investors of millions of dollars. Sidney Hanson pleaded guilty to securities fraud and mail fraud charges and received a 22-year prison sentence. The couple’s companies, along with Charlotte Hanson, were ordered to pay over $23 million in restitution.
How to Recognize a Ponzi Scheme
Deception works best in the shadows, hiding its true nature behind a veil of authenticity. Usually, the financial advisor dangles an enticing investment prospect, enticing investors with high returns at no risk.
The following red flags could mean that you are involved in a Ponzi scheme:
- Promises of substantial returns with minimal risk
- Consistent returns, regardless of market fluctuations
- No disclosure of investment strategies
- Difficulties in withdrawing invested funds
- Urgency to recruit fresh investors
Acknowledging your status as a victim marks the initial phase towards reclaiming the funds you lost. Should you notice any of these warning signs, seek legal assistance. An attorney from our firm will guide you through the next steps.
This Is What You Can Do for Your Claim
The manner in which you react after you uncover misconduct impacts the strength of your claim. A Ponzi scheme attorney serving North Carolina will give you all the essential information you need to know about what to do next.
You can protect the value of your claim by:
- Gathering all the important documents and other types of evidence
- Stopping any involvement in the scheme
- Consulting an experienced lawyer
- Following the advice your attorney gives
- Not discussing your case with others
- Keeping records of any interaction with people involved in the Ponzi scheme
This Is How Our North Carolina Ponzi Scheme Attorneys Can Help
Not every attorney can handle Ponzi scheme cases. Seek out lawyers with a comprehensive grasp of investment scams. Look for law firms with a proven history of successful case results.
Meyer Wilson helps Ponzi scheme victims by:
- Conducting thorough case evaluations.
- Gathering evidence and relevant documentation.
- Advocating on your behalf in FINRA arbitrations.
- Assisting you throughout the legal proceedings.
- Negotiating equitable settlements.
- Exploring all available legal options for restitution.
- Offering personalized legal advice and guidance.
Our team conducts extensive investigations to gather essential information for your claim. We use all available evidence to build a convincing case against the at-fault financial advisor.
We work on a contingency fee basis, meaning you only pay if we win. Our North Carolina Ponzi scheme lawyers understand that financial difficulties may arise, but they should not prevent you from accessing quality legal representation.
Call Our Ponzi Scheme Attorneys Serving North Carolina Today
If you suffered losses in a Ponzi scheme, you may qualify for compensation. Meyer Wilson is well-equipped to navigate these complex cases. With our support and professional guidance, you can confidently pursue justice.
Our North Carolina Ponzi scheme lawyers will build a robust case against the accountable party on your behalf. Contact us today to explore the legal avenues open to you.