For many Ponzi scheme victims, there is no sign that anything is wrong with an investment until the payments stop, and you can’t seem to reach the broker or advisor who promoted it. Unfortunately, Ponzi schemes are designed to be hard to spot. Oftentimes, victims receive faked “account statements” and even a few payments to enforce the illusion of legitimacy and success. If you became the victim of a Ponzi scheme, you’re definitely not alone—even very experienced investors have been lured in by this kind of ultra-slick scheme.
What to Do When the Payments Stop
If you have stopped receiving payments or otherwise suspect you have become the victim of a Ponzi scheme, these should be your first two steps:
- Gather all the documentation that you have about the investment. This might include account statements, bank statements, the prospectus, correspondence with your advisor, and contact information related to the account.
- Get in touch with an experienced Ponzi scheme lawyer. An attorney who is experienced with Ponzi scheme and investment scam cases can help you go over the documentation, file a complaint, and take steps to recover your losses.
The securities fraud attorneys with Meyer Wilson have represented hundreds of clients across the nation in FINRA mediation, arbitration, and litigation, and we would be happy to review your case in a completely free, no-obligation consultation. Please reach out to us today by phone or get started by requesting our FREE book, Five Signs of Investment Fraud …And What to Do if it’s Happened to You.