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NYC Investment Fraud Lawyers

By Spodek Law Group | November 12, 2016
(Last Updated On: July 28, 2023)

Last Updated on: 28th July 2023, 07:20 pm

Wall Street is located in New York, and it’s one of the most prevalent investment areas in the world. New York is considered the investment capital of the nation, and it comes as no surprise to anyone. The rules required to operate as a legal investment entity are numerous, binding, and upheld in a court of law. All businesses and people acting as investment firms are required to adhere to strict financial, legal, and ethical guidelines. Anytime a company or investor fails to adhere to these specific guidelines and laws, they are guilty of investment fraud.
What is Investment Fraud?
Investment fraud is any sort of misrepresentation to the client when an investment takes place. Some of the most common examples of investment fraud include:
– Ponzi schemes: This occurs when an investor accepts money from a client to invest in a specific product, but uses the money given by another client or company to pay off the investors who ask for their payouts rather than investing their money. Investors typically recruit additional clients to invest their money so they can use those funds to repay other clients.
– Advance Fee Fraud: This occurs when an investor requires a client to pay them a fee upfront before they actual invest any of their funds. The Federal Trade Commission deems this illegal under the scope of the law.
– Financial statement fraud: This occurs when investors falsify information on financial statements that go out to their customers in one of two ways. They can overinflate the earnings their customer’s investments bring in to keep their customers, or they can underinflate the earnings their customers have so they can pocket the difference.
– High-Yield investment fraud: When an investor promises their clients a high rate of return that borders on unrealistic without any substantial risk to the investor, it’s called fraud because they investor usually purchases investments that are unregistered and/or sold by those without a license.
When an investor or company knowingly and willfully engages in any of this type of fraud, they can be held responsible in a court of law, sent to prison, required to pay restitution, and they lose any professional licenses they hold. The purpose of investment fraud criminal punishment is to protect investors. When a person approaches an investor to help with their portfolio and funds, they do so with a reasonable expectation their funds are being appropriated in a specific manner. Their funds are not used to the financial benefit of the person or company working for the client.
Penalties for Investment Fraud
Both criminal and civil charges can be brought against any investor accused of fraud, and they can reach the federal level in many cases. The type of punishment a person faces when accused of investment fraud varies. There are several details, additional crimes, and smaller charges brought against those who commit investment fraud it’s nearly impossible to determine the charges for any specific case without the details. Investment fraud that occurs through the use of electronics can be further defined and charged as wire fraud. If it’s done through the mail, mail fraud is added into the mix. Anyone charged with investment fraud faces the following punishments
– Fines
– Prison time
– Restitution
– Probation
Fines for anyone who commits investment fraud starts at $10,000 and goes up depending on the charges. Restitution requires fraudsters pay back their clients they money they stole. Incarceration can start at just a few years and last as long as several lifetimes depending on the severity of the charges, and the number of charges and their maximum prison term allowed. Probation time is standard starting at 5 years and can increase based on the number of charges a person is found guilty of.
A successful investment fraud case is handled by utilizing the experienced of a knowledgeable criminal defense attorney. Being charged with investment fraud means a defendant accumulates debts usually unaffordable for them, prison time, and the loss of their professional licenses. The entire future for a defendant is determined in a case like this, and a lawyer who knows what he’s doing in the courtroom is beneficial to all defendants.

Discover the Dangers of Investment Fraud in Wall Street

It is well-known that Wall Street, nestled in the heart of New York City, stands as one of the most powerful and influential investment hubs in the world. New York’s elite status as the nation’s financial nucleus is undisputed and hardly surprising. However, beneath the glossy veneer of prosperity and success lies a hidden realm fraught with perils: investment fraud.

Understanding Investment Fraud: A Universe of Deceptive Tactics

Investment fraud encompasses a vast array of duplicitous actions geared towards swindling investors. These deceitful maneuvers breach stringent financial, legal, and ethical guidelines to which investment entities must rigorously adhere. When these regulations are flagrantly ignored, the consequences can be disastrous for both investors and perpetrators alike.

Common Examples of Investment Fraud:

Investment fraud can take many insidious forms, and understanding them is the first line of defense. Some of these underhanded tactics often seen in Wall Street include:

  • Ponzi schemes: These dastardly schemes involve investors soliciting funds from clients under the pretense of investment, only to use the money from new investors to pay off earlier ones. This creates a vicious cycle that ultimately ends in ruin for most involved.
  • Advance Fee Fraud: A devious investor demands an upfront payment from their client before investing their capital, a practice considered illegal by the Federal Trade Commission.
  • Financial Statement Fraud: This cunning tactic involves manipulating financial statements to deceive clients. Investors may either overinflate earnings to win their clients’ trust or understate profits to pad their own pockets.
  • High-Yield Investment Fraud: Promising exorbitant returns with little to no risk, these fraudulent investments typically involve unregistered securities sold by unlicensed parties. This false guarantee is not only unethical but also illegal.

The Harsh Penalties of Investment Fraud

Those unscrupulous individuals and companies that dare to engage in investment fraud face a litany of severe punishments. Both criminal and civil charges can be brought against the accused, potentially reaching the federal level. The specific penalties depend on a myriad of factors, such as the type of fraud, the scale of the crime, and the severity of the financial damage caused.

Multiple charges can compound the predicament for those accused of investment fraud. For instance, if fraud is committed electronically, perpetrators can face additional counts of wire fraud. Similarly, scams conducted through the mail can add mail fraud charges to the docket. The potential consequences of these colliding charges are as daunting as they are diverse:

Punishment Description
Fines Starting at $10,000 and increasing based on the severity of the crime
Prison time Varies from a few years to multiple life sentences, depending on the charges and maximum prison term allowed
Restitution Requires the fraudster to repay their victims for the stolen funds
Probation Begins at 5 years and can increase based on the number of charges and convictions

The Necessity of a Skilled Criminal Defense Attorney

When the stakes are high and the future hangs in the balance, it is absolutely critical for those accused of investment fraud to secure the services of a seasoned criminal defense attorney. The attorney’s skill, expertise, and unwavering determination may prove invaluable during this trying time, as they help navigate the treacherous legal landscape. It is essential for defendants to find an advocate who will uncompromisingly fight for their rights and tirelessly work towards achieving the best possible outcome during these dark and challenging days.

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