Dealing with fraud can be devastating. If you’ve paid for goods and services, yet not received what you paid for, it is a waste of money. And sometimes it can be difficult to get that money back, especially in situations where the other party is being unethical.
In this case, you’ll want to consult a fraud litigation lawyer. This is someone who has experience in consumer fraud cases. They might be a money laundering attorney or one of the fraud prosecution lawyers. But either way, they can help. Either the other party will realize that they can’t get away with ripping you off and give you back your money or they can take the case to court. If it goes to court, you’ll have an experienced and motivated lawyer on your side. So while dealing with fraud is never fun, having a lawyer can make it much less stressful. If you find yourself in this situation, look up consumer fraud attorney near me in order to get started.
Did you hire the services of a financial advisor that allegedly committed fraud or proved to be negligent? If so, then it’s important to hire the services of litigation attorneys that have experience with these types of cases. In addition to providing counsel specific to your situation, litigation attorneys will also provide you with information on different facets of the litigation process.
If your financial advisor allegedly committed securities fraud, you may be aware that this is also referred to as stock and investment fraud. Were you persuaded to make an investment based on false information? Did you also lose your investment?
When a financial advisor engages in the practice above, it is in direct violation of securities laws. This is why it’s vital to obtain the services of a litigation attorney rather than attempting to recoup losses on your own.
In 2009, recent FBI data indicates that there were 1,510 securities and commodities fraud cases pending. By 2014, this figure had increased to 1,639. During 2014 alone, there were 633 corporate fraud cases pending.
The U.S. Securities and Exchange Commission (SEC) filed 734 enforcement actions in fiscal year 2012, and
686 during 2013’s fiscal year. As a result of these filings, the SEC obtained engorgement and penalties orders that totaled $3.1 billion in 2012 and $3.4 billion in 2013.
During 2014’s fiscal year, there were a record number of enforcement actions filed by the SEC. These 755 actions covered a broad range of misconduct. It is estimated that these orders totaled $4.16 billion in disgorgement and penalties.
By 2015, the number of securities brokerages in the United States totaled 26,823. Payroll wages for this industry were approximately $62 billion. Even though there appears to be a prevalence of securities fraud cases, it’s important to note that the SEC focuses its efforts on investigating firms and corporations that do not abide by federal laws.
When you consult with a securities fraud lawyer, a stockbroker fraud lawyer, or a financial advisor attorney, they will evaluate your case prior to filing a claim on your behalf against the individual financial advisor and/or firm. If it is determined that the claim is valid due to fraud, churning, unsuitability, and/or negligence, then ultimately, the case will be decided by Financial Industry Regulatory Authority arbitration panels.