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What to Do if You Are a Victim of Investment Fraud

Simms Law, P.C. June 14, 2022

Investment fraud affects scores of investors every year, often leaving them in dire financial straits. However, if you’ve been the victim of investment fraud, there are a number of things you can do to limit or eliminate your losses. Below are a few things you should do if you believe you’re a victim of investment fraud.

Gather documentation – If you believe you’re a victim of investment fraud, the first thing you should do is collect all relevant documentation concerning the fraud. If available, the following items should be gathered:

  • The perpetrator’s contact information, including his or her name, physical and email addresses, telephone numbers, and website address.

  • The perpetrator’s regulatory registration numbers

  • A timeline of events related to the fraud

  • The police report

  • Call notes

  • Other relevant documentation related to the fraud

  • Your most recent credit report from the three major credit reporting companies

Understand your rights – There are several federal and state laws that are intended to protect the victims of financial fraud. Federally, the U.S. Department of Justice (DOJ) provides assistance to the victims of various types of financial fraud. And on the state level, the Attorney General handles such matters. An experienced Fort Lauderdale investor representation attorney will be able to explain both your federal and state rights to you, along with your potential recourse options.

Report investment fraud to regulators – State, national, and federal regulatory agencies for investment professionals may be able to provide you with assistance if you are a victim of investment fraud. It is often beneficial to report investment fraud to as many regulators as possible.

Report investment fraud to law enforcement – It’s important to report investment fraud to law enforcement in order to begin the recovery process, ensure a proper investigation, and prevent future damage to other investors. Law enforcement includes:

  • Local law enforcement

  • District Attorney

  • Attorney General

  • Federal law enforcement

Hire an experienced Fort Lauderdale investor representation attorney – Finally, if you are a victim of financial fraud, you should contact an investor representation attorney as soon as possible. At Simms Law, P.A., one of our primary focuses is the representation of investors—including those investors who believe they’ve been the victims of financial fraud. Unfortunately, securities fraud has been a part of the United States financial system since the advent of the stock market. For the retail investor, securities fraud typically occurs when a broker or financial advisor misrepresents the risks and key characteristics of an investment, causing the investor to purchase an unsuitable security. At Simms Law, we always take our clients’ concerns seriously and are aware of what is at stake when an investor suffers losses due to financial fraud. If you suspect that any suspicious activity has occurred in any of your investment accounts, or if you believe that you have been misled about the nature and risks of any of your investments, please contact us today for a free consultation.