Pyramid & Ponzi Schemes Fraud Attorneys Miami, Florida
Our Former Wall Street Attorneys have successfully handled cases for many victims of Ponzi schemes. Ponzi schemes are a type of pyramid or multilevel marketing scam most often disguised as viable business or investment opportunities. All it takes is one trusted contact for an investor to become involved in the scam.
Although everyone now knows about the Bernie Madoff ponzi scheme, such types of scams happen every day to both large and small investors. Often, the scammers prey upon people in a common group such as church members or club members in what has been labeled “affinity fraud.” Our firm has significant experience in representing investors in Ponzi schemes including church based and affinity fraud scams where such groups are used to target unsuspecting victims. Despite increased knowledge regarding Ponzi schemes, many people are still at risk to becoming victims.
If you have lost money or been defrauded in a Ponzi scheme, do not hesitate to speak with attorney Melanie S. Cherdack, an experienced South Florida Ponzi scheme attorney. Melanie S. Cherdack is a former in-house attorney for a large broker dealer. She leads a team of investment fraud attorneys who represent investors across the United States, Latin America, Puerto Rico and the Caribbean.
Seemingly Viable Opportunities Can Result in Serious Financial Loss
Ponzi schemes are often disguised as viable business or investment opportunities. Often, all it takes is one trusted member of the community, sports team, religious organization, club, school or even a friend or family member for an investor to become involved in the scam. In a typical Ponzi scheme, original investors are paid with money from the new investors. New investors are solicited, promised a rate of return on investments, and lured into the scheme. The scam then builds momentum, draws in unsuspecting victims and eventually results in financial losses — far from the big returns investors were promised. Often, the perpetrator creates fictitious or fraudulent statements to fool the investors into believing that their accounts are worth money or contain securities. In such cases, the investment firms or banks through whom the fraudster did business may be liable due to the fact that they ignored suspicious facts allowing the scheme to snowball.
The SEC, FBI, DOJ and various state agencies that investigate Ponzi schemes draw attention to the fact that while any age group is at risk for falling victim, it is often the elderly population that falls the hardest. If your elderly loved one has been a victim of financial fraud, talk to Ponzi fraud lawyer Melanie S. Cherdack regarding the matter.