Experiencing losses can be a normal part of investing—there’s really no such thing as a completely “risk-free” investment. However, if you sustained unexpected losses or suspect fraud, it can be tricky to decide what is a normal or natural loss and what might be investment fraud.
Common signals that your losses were the result of fraud or investment misconduct:
- You can’t reach your broker or adviser.
- Contact information on your investment documents is missing or inaccurate.
- You notice unauthorized trades in your account history or an excessive number of trades.
- The losses you suffered seem out of line with the risk preferences you communicated.
- Your broker or adviser is unwilling or unable to answer your questions about the losses.
What to Do If You Suspect You’re the Victim of Fraud
Have you sustained unexpected investment losses? Or have you maybe heard that a broker or company you’ve invested with has been accused of fraud? If these concerns sound familiar, then you’re probably wondering what happens next, how to determine if you’ve been a victim of fraud, and what you might be able to do to get back your investment money.
If you have sustained investment losses, or if you are concerned about fraud complaints, here are a few steps you can take to determine if you might have a case:
- Gather important documents. The first step should be to collect your account statements, initial investing information, cancelled checks, and any other relevant information for review.
Attorney Dave Meyer provides more information on gathering the necessary documents in this video.
- Determine if you’ve sustained losses. If you’re having trouble figuring out what kinds of losses you’ve sustained and why, simply organize the information you have questions about and jot down a few notes to discuss with an investment fraud lawyer later.
- Look out for any “red flags.” These investment warning signs may include unauthorized trades on your account, numerous or frequent trades, or any other suspicious activities.
- Consult with an experienced investment fraud lawyer. An attorney can help you review your documents, determine if you have a case, and explain your rights and options.
Determining whether your losses were the result of fraud or unscrupulous broker actions can be extremely difficult, and it’s worth taking the time to meet with a trusted financial professional or stockbroker fraud attorney to discuss what happened. Meyer Wilson would be happy to meet with you in a free and confidential legal consultation to talk about your situation and your options.
Speak with us today or fill out our online contact form for more information.