New to investing? Don't trust financial brokers?
Most of us remember Bernie Madoff, the man responsible for committing the largest investment fraud in US history. Madoff preyed on those who wished to invest their money. Rather than investing the funds he was entrusted with, he simply deposited the funds into his Chase account. Madoff and his team would send falsified account statements to his victims, making it appear as if their investment account balances were growing. When one of his clients would wish to withdraw their investment funds, Madoff would simply withdraw money from his Chase account. He essentially would take money from Jack to pay Jill. This tragic event left many of Madoff’s victims penniless, as many of his clients had entrusted him with most of their life’s savings. Unfortunately, many of Madoff’s clients did not catch on to his devious scheme until it was too late. One of the primary reasons for this oversight was that many of his clients did not have an investment lawyer review their investments and/or investment portfolio. A knowledgeable investment lawyer would have seen that the account statement’s numbers simply did not add up (especially given the capital markets’ volatility both preceding and during the recession), and would have informed his or her client about their findings.
When you trust a firm to invest and grow your financial assets, you expect to receive accurate, timely, and honest information about your investment accounts. You expect that your wealth advisor or investment firm is honest, knowledgeable, and prudent with your money. Unfortunately, this is not always the case. Some, investment professionals lack a moral compass, and there are predatory investment brokers that will take advantage of your trust.
A more common example of investment misconduct occurs when investment advisors take advantage of uninformed clients through investing their life savings via an annuity contract. An annuity is a tax-deferred retirement vehicle, which allows you to choose from a selection of investments that pays a fixed amount of income in retirement based on your age at annuitization and the performance of the investments that you selected. This type of investment is not always in the best interest of clients, especially for senior-aged clients. However, some investment professionals will place their clients’ funds in these investment vehicles because annuities typically pay the highest commission rate.
Investment fraud can take many forms, and dishonest wealth advisors are always finding newer, more clever methods to hide their wrongdoings. But, our experienced investment lawyers are committed to exposing fraud, and they can often detect many types of fraud or misconduct simply by reviewing and analyzing your investment portfolio’s account statements.
Our team of investment lawyers at A.A. Castro Complex Litigation, Appeals & Negotiation, PLLC are dedicated and passionate about helping victims of fraud. Our dedicated team of lawyers will thoroughly investigate any suspected fraud, and we will fight to expose any type of investment misconduct or fraud. If we uncover any misconduct, then we will partner with you to recover your losses.
CONTACT US TODAY FOR A CONSULTATION
Serving the New York Supreme Courts in Manhattan, the Bronx, Brooklyn, Queens, Westchester, and Onondaga Counties, as well as the Appellate Division First, Second, Third, & Fourth Departments for Complex Litigation, Appeals, & Negotiation.
We are available to meet in Manhattan and Syracuse, New York. If you would like to meet outside of these areas, please contact us and we can arrange for a meeting place to discuss your matter.
Neither receipt of information presented on this site nor any email or other electronic communication sent to Castro CLAN PLLC or its lawyers through this site will create an attorney-client relationship, and no such email or communication will be treated as confidential. No user of this site should act or refrain from acting on the basis of information on this site without seeking legal advice from counsel in the relevant jurisdiction. Castro CLAN PLLC expressly disclaims liability with respect to actions taken or not taken based on the contents of this site.
Prior results do not guarantee a similar outcome.