The Investor's Lawyer - by Georgia Securities Lawyer Joel Beck

Been a Victim of Broker Fraud? Don't Go the Felon Route!

If you've been the victim of stockbroker fraud or misconduct, you have options.  You do not have to take measures into your own hands as a four retirees in Germany reportedly did recently.  According to these news articles (see here and here), the four retirees, aged 60 to 70, angry about losses in investments they made, kidnapped their financial advisor from his home in Germany, holding him prisoner for several days. After getting a message out to call police, the advisor was rescued and the group dubbed the geritol gang was arrested. 

Remember, you need not resort to major felonies to seek to recover your losses.  Though there may be some downsides to the securities arbitration process, I've never seen it involve doing time in prison.

SEC Pursues Charges for Ficticious Investments

A mantra of this blog is to check before you invest.  Investigate and understand.  After all, it's your money on the line.  Recently, the SEC announced that it has instituted proceedings against an investment adviser who sought clients to invest in "federal housing certificates" that were to pay up to 12% per year, risk-free and tax free.  These "investments" did not actually exist, and the investment adviser allegedly misappropriated the clients' funds, while allegedly sending out bogus account statements to the clients. 

The news is full of stories about government programs  - national, state and local - designed to stimulate the economy and help citizens.  You can be sure that crooks read the newspapers too, and will attempt to make their schemes and scams appear to be a legitimate part of the government bailouts and assistance for citizens.  Don't be a victim.  Investigate before you invest.