When an investment that you thought was yielding stable returns is revealed to be a Ponzi scheme, the consequences can be financially and personally devastating. If you have been defrauded by a suspected Ponzi schemer, you can often recover your assets through litigation.
However, you need to have an attorney on your side who knows the system well and has experience in spearheading compensation and asset recovery after a Ponzi scheme. Silver Law Group can review the facts of your case to understand the nature of the scheme, help you identify other defrauded investors, and determine the best legal actions to take to recover the money you lost.
Ponzi schemes may be shielded by legitimate organizations and investment opportunities, or be completely fraudulent ventures with the appearance of legitimacy.
Many investors can be deceived by a Ponzi schemer, especially when these ventures involve a web of complicated legal structures, firms, and financial institutions. One of the most notable components of a Ponzi scheme is that it frequently promises investors specific returns, but provides little transparency as to the fund or investment itself.
There may be issues withdrawing money from the investment vehicle, and investors are frequently unable to receive statements or documentation about their money.
When you have been defrauded by a Ponzi scheme, your first priority will be compensation and asset recovery. The road to financial recovery can be complicated, so it is essential to consult with a seasoned Ponzi scheme attorney at the earliest available opportunity. Preserve any documentation you have related to the alleged scheme, as this will be vital evidence we can use to build the case for asset recovery.
It may or may not be possible to recover compensation from the actual individual or company who led the Ponzi scheme, but there are other ways to seek the recovery of assets. Silver Law Group may be able to take action against insiders who aided or abetted the scheme, as well as third-parties like accountants, investment firms, commercial banks, or financial advisors.
Financial advisors, and even insurance agents who provide financial advice, may be sources of financial recovery. Banks can also potentially be held liable in these cases. If a financial institution knowingly or unknowingly engaged in authorized trading, a violation of fiduciary duty, or a breach of trust, they may be obligated to pay statutory damages to Ponzi scheme victims.
Compensatory damages could include out-of-pocket damages, trading losses, interest, punitive damages, and even attorney’s fees in some cases. While civil litigation (in the form of individual lawsuits or a class action) may be the advisable path to collecting compensation for damages perpetrated by a Ponzi scheme, arbitration proceedings may apply in some cases. Silver Law Group can guide you through any of these legal situations.
If you have been defrauded in a Ponzi scheme, you need to work with a securities fraud lawyer who can take aggressive action to help individuals and businesses seek maximum recovery. Compensation and asset recovery after a Ponzi scheme can be a complicated task, particularly when the schemer no longer has liquid assets.
Our team will leave no stone unturned to get your money back, whether that involves legal action against brokerages, banks, individuals, and even third parties who aided and abetted the scheme. You do not have to fight this battle alone.
Silver Law Group regularly file cases in state and federal court against those responsible for this scheme, and can cast a wide net on your behalf to bolster your financial recovery. Contact us today and learn what kind of compensation you can expect during asset recovery.
