A Ponzi scheme is a type of investment scam in which a coordinator convinces investors to give money to a nonexistent enterprise, only to pay existing investors with money from new investors. Every Ponzi scheme will eventually dissolve when the instigator runs out of funds – leaving investors with nothing to show for their money.
If your family experienced significant financial losses due to a Ponzi scheme or another form of investment fraud, please contact Meyer Wilson for a free initial consultation with an attorney.
It is important to consult an attorney the moment you suspect you have become the victim of a Ponzi scheme. This is a serious type of investment fraud that could steal thousands of dollars out of your pocket. If you have already lost money because of a Ponzi scheme, consulting with an attorney could help you understand what to do next.
Bringing a civil claim against the coordinator of the scheme, for example, could result in repayment for your economic (and noneconomic) damages. When you retain an attorney from Meyer Wilson, you can benefit from assistance and insights from lawyers with years of experience handling claims.
A Ponzi scheme works by paying people who have already invested in an opportunity that does not exist with funds from new investors. The cycle will continue until the scammer runs out of money to recycle to existing investors, resulting in collapse and $0 back for investors. Ponzi schemes are similar to pyramid schemes, with some of the same warning signs.
Even savvy and experienced investors can fall prey to a sophisticated Ponzi scheme. If you are new to investing, learning a few common red flags could help you stay away from a false investment opportunity. An attorney from our law firm can help you spot a Ponzi scheme and potentially recover financial compensation for losses you suffered due to an investment scam in Michigan.
If someone has taken your money as part of a Ponzi scheme, that person and/or the company he or she works for could owe you compensation for civil damages. Filing a claim against the defendant(s) could hold them accountable for your losses. You could be eligible for a financial award that reimburses both economic and noneconomic damages.
A lawyer from Meyer Wilson can help you find out what your claim might be worth as a victim of a Ponzi scheme in Michigan. The state does not place a cap on how much compensation a claimant can earn in a civil claim except in medical malpractice lawsuits. Our attorneys can also help you maximize your financial recovery with proven and aggressive legal strategies.
As the victim of a Ponzi scheme or any other type of investment fraud in Michigan, do not accept your losses without at least consulting with an attorney about your recovery options first. You could be eligible for an award that restores your family’s financial stability. The lawyers at Meyer Wilson have represented more than 800 victims of investment fraud throughout the country. We may be able to help you obtain a fair compensatory award for losses you suffered in a Ponzi scheme. Start your claim with a free consultation.