Articles Tagged with Stock Fraud Lawyer

investment and bankruptcy lawyers serving tampaWhen you have a stockbroker handle your investments, you expect that this person won’t violate legal and ethical standards. But sadly, this isn’t always the case, and below are several reasons you may need to hire a stock fraud attorney.

Misrepresentation or Omissions

In order to know when to buy or sell an investment, clients need enough information from their broker in order to make a sound decision. However, some brokers fail to reveal important facts or they make false claims such as “I have an inside tip.” Brokers can potentially be held liable if clients make poor investments based on misrepresentation or omissions.

investment and bankruptcy lawyers serving tampaIf you have been the victim of broker misconduct, you may be wondering if you need a stock fraud lawyer.

Here are just a few things that indicate that you need to obtain the services of an experienced stock fraud lawyer:

  1. Your broker was involved in bond fraud & misconduct. If your broker did not make you aware of any of the inherent risks associated with investing in the bonds, you will need to engage the services of a professional stock fraud attorney.

investment and bankruptcy lawyers serving tampaIf you’ve been the victim of stock fraud, you will definitely need the services of an experienced stock fraud attorney who will handle your case. But, you may be wondering, what will a stock fraud attorney do for you?

In an attempt to make this process go a little bit easier for you — even though, certainly, the process itself is far from easy — here’s a short list of responsibilities that stock fraud attorneys will undertake on your behalf:

  • A stock fraud attorney will help you understand the finer points of stock fraud. For example, an experienced attorney in this field will be able to explain to you the various types of investment stock fraud, such as churning (excessive trading in the hopes of obtaining financial gain), fraudulent account documentation, and due diligence failure.

svFlorida stock broker fraud attorneys well understand the underpinnings of the 2012 case of the U.S. Securities and Exchange Commission(SEC) versus First Resource Group, LLC, in which company principal David H. Stern was “charged with 3 counts of fraud.”  The crime of fraud, in general, consists of deliberate misrepresentations–or omissions–of facts in order to profit, often at the expense of others.

In this case–Mr. Stern, of Florida, set himself up in 2008 as a stockbroker when, in reality, his company had never been “registered with the SEC.” He sold stocks using “instruments of interstate commerce and the U.S. mail to knowingly and recklessly employ devices, schemes, or artifices to defraud investors.”  David Stern’s “devices and schemes” played out as follows:

Signing a contract with 2 companies to “solicit investors” for their stock, Stern sought to aid TrinityCare Senior Living, Inc., which built and managed senior-care housing and Cytta Corp., which composed medical data software. He was given 150,000 shares of TrinityCare and 200,000 shares of Cytta for his trouble.

svA Florida stock fraud lawyer is adept at aiding victims of what the U.S.  Securities and Exchange Commission (SEC) calls–in its investor alert bulletins–“fraudulent stock promotions.” The SEC’s Office of Education and Advocacy recently issued a warning about “fraudsters who promote a stock to drive up the price, and then sell their own shares at the inflated price.”  Therefore, these scam artists profit, but investors lose money.   Explains the SEC, “promoters are often paid…or company insiders” who are experts at “creating buying frenzies” of stocks which may actually be worth little.

A Florida stock fraud lawyer–as well as the SEC–know that these charlatans promote stocks through what appear to be “unbiased sources,” such as “Social Media”–where they can hide their true identities, or “Investment Newsletters”–through which they pay publishers to tout stocks for them.

Having compensated third parties to collect the e-mail addresses of wealthy, older investors who reside in certain upscale areas, these fraudsters continue to shell out for “online ads” in the forms of “pop ups” or “banners.” Even though these ads represent scams, their masterminds  find ways to troll them across accredited “financial pages of news organizations.”

logo-squareFor many retirees, the idea of spending their leisure years in Florida is a goal for which they have striven for many years. According to U.S. News & World Report’s analysis of 2010 U.S. Census Bureau data, the “Sunshine State” has the greatest proportion of people who are at least 65 (17.3%). And that doesn’t necessarily include “snowbirds” who might spend a considerable amount of the winter months in Florida away from their normal array of trusted advisers such as lawyers, investment advisers and other financial professionals who remain behind in the snow.

Whether they are new residents or snowbirds, and like many other Americans, some of Florida’s newest senior citizens probably are hoping to make some new investments to help them recover ground lost during the difficult economic times of the last five years, and that makes them extra-vulnerable to securities fraud schemes targeting the elderly. One such scheme involving the stock of two companies, Miami Beach-based Thought Development Inc. and Virgin Gaming, just resulted in two Boca Raton men being among eight defendants being charged in federal court with conspiracy to commit federal mail and wire fraud. recently reported that Wifredo A. Ferrer, U.S. Attorney for the Southern District of Florida, and George L. Piro, Special Agent in charge of the FBI’s Miami field office are prosecuting the Boca Raton pair on charges based on what Ferrer described as “exorbitant, undisclosed commissions” and misrepresentation of the technology involved, which allegedly projected a green laser line on a football field visible in the stadium to players and fans as well as to television viewers. Ferrer and Piro also took the position that the promoters also failed to mention a pretty significant defect, which was that use of the technology posed a risk of blindness to the players.

logo-squareThe Savage Law Firm is pleased to serve the Tampa area, especially for those residents who are in need of a Florida stock fraud lawyer.

How do you know if you need a Florida stock fraud attorney? Here’s some things you need to consider:

  • Has your stock portfolio decreased, significantly, due to negligence or incompetence from your stock adviser? If so, you are protected by both state and federal laws against this sort of thing. As the victim of a predatory adviser, you have the right to seek restitution if your adviser is proven to be negligent, unsuitable, fraudulent, and/or illegal in his/her dealings.

logo-squareSaving for retirement is a sacrifice. Entrusting a securities firm to manage your money is a leap of faith. You expect nothing less than candid, professional and precise information regarding your investments. Sometimes, dishonest stockbrokers and savings advisers take advantage of an investor’s vulnerable position. Due to the dishonesty of others, you could be facing the loss of a large amount of money. Fraud may be from bad investment advice, a conflict of interest, or other misfortune. When your retirement income is gone due to fraud, you need help getting back your life’s savings and making sure the guilty parties get their day in court.
Broker misconduct and investment fraud can take place in many ways. Perhaps you’re a victim of excessive trading, breach of fiduciary duties, bond fraud, falsifications or errors, illegal trading, general misconduct or Ponzi schemes. Beware, as fraudsters come in all shape and sizes. These individuals are often respected in the community and appear well-educated.
As a Florida investment fraud attorney, we’re dedicated to representing you against the fraudulent handling of your money. Regardless of what has occurred, we can help you recover your loss. We will examine the information and see if you have a case. Don’t think that you have to take this loss; you have a right to fight for your money. Call today to schedule a consultation and see how our service team can help you. It’s a sad situation; but a legal adviser can be a source of support and give you the answers you need to hear. Don’t get mad, get even by taking them to court!

Stock broker fraud, also known as investment fraud, occurs when a financial professional or firm offers incomplete, inaccurate or biased information that ends up benefiting the adviser or firm and not the investor. A single individual can commit this type of fraud or it may occur on a corporate level and can run the gamut of investments from penny stocks to multi-million dollar trades.

All investment professionals are legally bound to exercise due care when representing the interests of their investors. When a broker fails to meet financial industry standards of care and harms an investor’s interests, the investor can make a claim against the individual or firm for professional negligence and fraud with the help of a Florida stock broker fraud attorney.

Stock fraud practices can include:

logo-squareLike many investment schemes, the opportunity to invest in a Florida technology company developing a product for the NFL sounded too good to be true. In fact, it was entirely false. Now three Florida men are in prison for their roles selling shares in the fake company.

Stock fraud, also known as securities fraud, is a scheme to entice investors to make buy stock using information that is incomplete, misleading, or even false. The untrue statements can be related to a company’s financial statements, or its business plans. When an investment opportunity sparks suspicion, a Florida stock fraud lawyer can help you determine what to next.

In the fake NFL technology company scheme, federal prosecutors said that the victims, many of them seniors, were enticed to invest in a Miami Beach company that the fraudsters claimed was soon-to-go public, the South Florida Sun-Sentinel reported.

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