Protecting your money from unscrupulous financial advisors
With more people in charge of their investment portfolios than ever officials of the State Securities are recommending investors to the growing sophistication of investment advisers who steal money from unsuspecting clients. The victims of financial fraud include retired couples who lose their savings and young professionals looking to make easy money on Wall Street.
State and federal agencies Values are trying to catch the crooks and thieves and investors to be hyper-activity monitoring your broker and your account.
Although most financial advisors, brokers and fund managers are honest, hardworking people like you who are few ways to fill their pockets with their hard earned money. The danger is exacerbated by investors' desire for maximum performance, the concern of most retirees live longer than their savings, investment opportunities and increased the number of people claiming be qualified advisors.
There is no legal aid available if you feel you can be a victim of investment fraud.
The following are some examples of how "middlemen" have advantage of their "clients".
• In Illinois, and John Howard Bozovich were not properly registered as advisors. However, this father and son, said the accounting firm clients that the securities fund investors would pool and purchase. Twelve investors ultimately provided $ 1.7 million. The Illinois Securities Department uncovered massive diversion of investor funds for personal benefit the Bozovichs. John Howard, and have been declared guilty in state and federal courts and sentenced to 15 and 11 years respectively.
• The Division of Securities of Colorado said that Murle K. Recruit Kunzman swindled $ 1.8 million 80 of its tax preparation service. In collusion with her husband and son, the Greeley, Colorado woman convinced of carefully selected customers will receive more benefits than certificates filing of nine separate partnerships stationed in residential mortgage loans they offer. After pleading guilty, was convicted of securities fraud and money laundering and sentenced to 57 months in federal prison. Her former clients lost everything that you invest.
• Former NFL player with a history of being punished for violation of securities of the Bag New York, the National Association of Securities Dealers, and New Hampshire and Vermont, this self-proclaimed investment adviser was arrested after a joint investigation by the Securities Division of Vermont and the FBI. The accused allegedly ran a Ponzi scheme in which early investors were paid with money provided by the other afternoon, while incentives to invest ever larger sums. Residents of Vermont, New Hampshire, Massachusetts and Florida may have been defrauded of $ 30 million.
About the Author
If you or someone you love has been the victim of investment fraud in Beaumont, Texas, the Golden Triangle or anywhere in Texas, please visit the website of The Coffman Law Firm today to schedule your initial consultation.
$150 million fraud investigation – Strike Force Apia
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