Have you found yourself the victim of security fraud? In the age of the Internet, as well as a modern economy that only gets more complex by the day, it seems anything can go wrong at a moment’s notice and turn your life upside down. From risking your finances to losing your hard-earned boating or home-owning investments, it seems there’s always a need for legal assistance when you least expect it. Thankfully, securities fraud lawyers work day and night to counteract fraud and pyramid schemes and will get your life back in order when all seems lost. Below are common financial and security-related issues facing the everyday American as well as legal solutions you can take if you find yourself in need of a little help.
Security In America
As of 2015, there have been a total of 26,000 security brokerages throughout the United States. The total payroll wages of said brokerages amounted to a stunning $63 billion, causing many companies and employers to seek out additional methods of preventing securities fraud alongside many top priorities such as marketing and workers compensation. Property damage is a prevailing issue that shows little sign of slowing down, with operator inexperience accounting as the highest contributing factor of boat accidents in 2014. Collectively, recreational boating accidents caused over $38 million in property damages and have caused many to consider establishing more prevailing laws to encourage better safety down the road.
Anybody can be a victim of securities or estates fraud and find their life made more complicated and expensive as a result. Securities fraud, also known as stock fraud or investment fraud, is a deceptive and fraudulent practice that causes investors to make poor sales decisions on the basis of false information. There are even times where multiple companies will work in conjunction to invest in a fraudulent scheme, which creates an even more complicated legal and paper trail should you find yourself in the middle of it. The outcome of this can be anything from financial loss to violation of security protocol, which can lead to legal problems down the road. The year 2014 alone saw almost 2,000 securities and commodities fraud pending cases throughout the country. One of the most commonly known forms of fraud in America are pyramid schemes.
This is one of the most frequent, and difficult to identify, fraudulent practices plaguing everyday Americans. A pyramid scheme generally starts off with a recruiter sitting atop a metaphorical pyramid, using their position to hire another person to invest a certain amount of money their way. They will then proceed to higher more and more people, all with the intent of funneling money toward a selfish and narrow cause. One of the most notorious cases of securities fraud was from Bernard Madoff, a sports investment manager who operated the largest Ponzi scheme in history. His victims lost a collective $20 billion over many years and he is currently serving a life sentence in prison. While an extreme example, nobody is exempt from potentially being involved in one of these deceptive crimes and can see their financial livelihood disrupted as a result. What can a securities fraud lawyer do for you?
Contacting A Securities Fraud Lawyer
If you find yourself the victim of security fraud, it’s essential you meet with a business attorney to get the legal and financial advice you need to put your life back in order. Your financial information and work history will be gathered to better put together the pieces and trace the source of the offending scheme. If you are the victim of injury or malpractice, an injury attorney will have the resources and skillset required to get the compensation you need. An estate planning attorney, as well, is a professional that deals specifically with legal issues involving real estates and trusts. Practicing safe habits, such as not writing your banking passwords where others can find it and disregarding ‘too good to be true’ business offers, will go a long way in discouraging fraud. Contact your local law firm today and see what a securities fraud lawyer can do for you.