I am not an overly jaded or cynical person. But over 25 years of practicing law, and more than 51 years of living on this earth, I have seen enough chicanery to draw some conclusions. There is a saying that “the love of money is the root of all evil…” And that is true. With rare exceptions, I don’t believe people start out to deceive others in order to achieve financial gain. Rather, it evolves. Circumstances, desires of the world, the pursuit of shortcuts, and a myriad of other things motivate people to deceive others. Our firm helps the victims of such deceit.
Here’s a question for you: When is an investment just a bad deal, bad timing, or the result of circumstances that did not play out as hoped? On the other side of that, was there fraud, deceit, or negligence involved with the seller/proponent of the investment (or the person managing the invested funds)?
This is not a simple subject. Sometimes the answers are clear, but even in a “down” market, losses can (and often do) occur because of mal-intent on the part of a seller, marketer, or fiduciary. In fact, there is an argument that bad times in the market create the perfect environment for fraud because desperation brings out very bad conduct.
We have handled cases in which stockbrokers forged margin call documents. We have handled cases involving the churning of accounts to create commissions. We have seen investments of $10 million dwindle to $3 million in one of the hottest markets of our times. We have also handled cases involving welfare benefit plans including 419 plans, 412i plans, and Section 79 or 83 plans, all of which were hailed as great tax-deductible investments to assist with retirement savings. People who invested in these plans suffered greatly, not only at the hands of the IRS and its assessment of penalties and interest, but also due to their inability to get to their money which was purportedly available as needed.
Oftentimes, there are many people involved in managing a person’s money. The actual deceivers are often very clever and can go undetected by even sophisticated investment personnel. We seek to sniff out the deceivers—and from them, we endeavor to recoup our clients’ lost funds and other damages.
If you or someone you know has been duped or think you may have been the victim of an investment fraud, perhaps we can help. We will leave no stone unturned in our efforts to recover that lost investment, as well as any other damages arising from the same.
