Alaska investment fraud attorney Robert Wayne Pearce at the Law Offices of Robert Wayne Pearce P.A., has extensive experience representing investors and organizations in securities arbitrations through FINRA here in the Last Frontier State of Alaska.
Have you fallen victim to investment fraud? Are you looking for an experienced attorney to help you fight for the compensation you deserve?
You need an investment fraud lawyer who is dedicated to protecting your rights as an Alaska-based investor.
We recognize the challenges and emotional toll of experiencing investment fraud, and we’re committed to guiding you through the legal journey to seek justice and accountability from those at fault.
Since 1980, we have been devoted to helping investors and have successfully recovered over $170 million in settlements and verdicts on their behalf. View client testimonials here. We have experience handling all types of securities fraud cases and utilize all available legal avenues from the federal level to Alaska law as it applies to investment fraud cases. Don’t let investment fraud ruin your financial future – contact the Law Offices of Robert Wayne Pearce, P.A. today via our quick-response form, or call (800) 732-2889.
Definition of Investment Fraud and Securities Fraud
Investment fraud is a term sometimes used interchangeably with securities fraud, and it involves using deceptive practices, including false or misleading information, to manipulate investors into making investment decisions that result in substantial losses. Dishonest brokers may even resort to outright theft of investor’s funds or securities.
All forms of investment fraud aim to deceive investors into taking actions that benefit the perpetrator financially. This may include schemes outright false and misleading statements, unsuitable recommendations, churning, Ponzi schemes, pump-and-dump schemes, or the sale of unregistered securities. Securities fraud is an illegal or unethical activity punishable by law.
“Did you know that in the first quarter of 2023, The FTC has reported nearly 50,000 individual cases of investor fraud with an estimated $1.9 Billion in total losses?”
Brokers, broker-dealers, and investment advisers frequently market novel and complex investment options to secure high commissions and profits, irrespective of their clients’ readiness to manage potential financial setbacks. These intricate investment vehicles and approaches, apt for only a select group of investors open to considerable risks, are occasionally employed to conceal risk exposure in accounts.
Example Scenario: An investor is persuaded by their broker to put a large portion of their retirement savings into a high-risk, illiquid investment. The broker downplays the risks, misrepresents the potential returns, and pressures the investor to make a quick decision. The investment ultimately fails, leading to significant losses for the investor.
Upon initially engaging with your broker-dealer, you probably expected them to prioritize your interests. However, numerous brokers and financial advisors fail to fulfill their fiduciary responsibilities, or they may even engage in clear acts of securities fraud. Such actions can include misleading you about the nature of investments, hiding associated risks, engaging in excessive trading (known as churning) to earn commissions, or imposing hidden fees that inflate your costs.
Investment Losses? We Can Help
Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.
or, give us a ring at (800) 732-2889.
FYI: Alaska and Federal Laws That Protect Investors
Alaska investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- The Alaska Securities Act: The cornerstone of Alaska investor protection, this law combats fraud, mandates the registration of most securities, and provides avenues for investors to seek recourse if they’ve been misled.
- The Alaska Business Organizations Code: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- The Alaska Deceptive Trade Practices-Consumer Protection Act (DTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Alaska State Securities Board: This agency is the primary watchdog for the Alaska securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Alaska Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Alaska investors.
- National Regulatory Bodies
- FINRA (Financial Industry Regulatory Authority): FINRA oversees all broker-dealers in the US, setting ethical standards, enforcing securities laws, and providing investor education resources. They work alongside the SEC (Securities and Exchange Commission) for broad investor protection.
Useful Resources
- Alaska State Securities Board: https://www.commerce.alaska.gov/web/dbs/securities.aspx
- Office of the Alaska Attorney General, Consumer Protection Division: https://law.alaska.gov/department/civil/consumer/laws.html
- FINRA: https://www.finra.org/
- The SEC – https://www.sec.gov/
How our Securities Law Attorneys Can Help You
Yes, investment losses are a part of investing, but when brokers commit fraud, they can be held legally responsible. If you believe you have been a victim of investment fraud, it is important to contact an investment fraud lawyer with experience handling these types of cases in your state (AK, specifically). Regulatory bodies like the SEC or FINRA might also need to be alerted to potential market manipulation or insider trading.
Acting swiftly increases your likelihood of securing compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have a history of assisting numerous investors in reclaiming losses from investment fraud. Our approach involves a comprehensive investigation of your case to identify any instances of misrepresentation or fraud, and we are dedicated to advocating for your rights to ensure you receive the justice and compensation you are entitled to.
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Here’s how our knowledgeable and experienced investment fraud law firm can advocate for you:
- Represent & Advise: We’ll stand as your legal representative, advising you on your rights and options throughout the process.
- Investigate & Analyze: We’ll thoroughly investigate your case, meticulously analyzing financial documents and potential fraudulent schemes to uncover evidence of wrongdoing.
- Identify Liable Parties: We’ll work strategically to identify all potentially liable parties, including brokers, financial advisors, and financial institutions.
- File Complaints & Lawsuits: We’ll file formal complaints with regulatory agencies (such as the SEC or FINRA) and, when necessary, initiate lawsuits to protect your interests.
- Litigate & Negotiate: We are skilled litigators ready to fight aggressively for you in court or arbitration. Additionally, we’ll negotiate tirelessly to secure the most favorable settlement possible.
- Recover Losses: Our ultimate goal is to recover your financial losses and protect you from further harm. We are results-driven and committed to achieving the maximum financial recovery you deserve.
Can I Recover my Investment Losses?
To reclaim your investment losses, you’ll need to demonstrate that your broker-dealer or financial advisor committed fraud, failed to uphold their fiduciary obligation towards you as an investor, were negligent in the management of your account, or violated securities industry rules.
In most cases, this means filing a FINRA arbitration claim against the broker-dealer and/or representative.
The majority of securities fraud cases are handled by FINRA (Financial Industry Regulatory Authority) rather than being brought to the court system.
FINRA arbitration is a streamlined, cost-effective way to resolve disputes between investors and their brokers without going to court – it also allows you to collect punitive damages, which are not available in civil court.
As an investor, you have certain rights that must be respected and protected.
We’re currently investigating several financial firms and stockbrokers who may have been the subject of customer complaints, may be facing legal action, and who may have acted unethically and committed fraud in Alaska, including:
- https://www.secatty.com/investigations/jonah-engler-global-arena-capital/
- https://www.secatty.com/investigations/serge-suleimani-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/ronald-bailey-mutual-of-america-life-insurance/
- https://www.secatty.com/investigations/guadalupe-wright-merrill-lynch-pierce-fenner-smith/
- https://www.secatty.com/investigations/thomas-zitzmann-securities-america/
- https://www.secatty.com/investigations/jeffrey-glenn-bbva-securities-inc/
- https://www.secatty.com/investigations/mark-robare-triad-advisors-llc/
- https://www.secatty.com/investigations/enrique-lopez-arkadios-capital/
- https://www.secatty.com/investigations/wesley-sorensen-principal-securities-inc/
- https://www.secatty.com/investigations/eric-nichols-tcfg-wealth-management-llc/
- https://www.secatty.com/investigations/david-bittermann-oppenheimer-co/
- https://www.secatty.com/investigations/daniel-dillard-union-capital-company/
- https://www.secatty.com/investigations/christopher-larochelle-dfpg-investments/
- https://www.secatty.com/investigations/charles-mclean-sigma-financial-corporation/
- https://www.secatty.com/investigations/carlos-salazar-lpl-financial-llc/
- https://www.secatty.com/investigations/andrew-schwartz-hightower-securities/
- https://www.secatty.com/investigations/maria-hendershott-raymond-james-and-associates-inc/
- https://www.secatty.com/investigations/jeffrey-haag-morgan-stanley/
- https://www.secatty.com/investigations/lawrence-labine-newbridge-securities/
- https://www.secatty.com/investigations/jeffrey-christenson-cetera-advisors/
- https://www.secatty.com/investigations/michael-blueweiss-arete-wealth-management-2/
- https://www.secatty.com/investigations/kerri-jamison-newbridge-securities-corporation/
- https://www.secatty.com/investigations/ryan-droeg-the-strategic-financial-alliance-inc/
- https://www.secatty.com/investigations/scott-turcott-oppenheimer-co/
- https://www.secatty.com/investigations/christopher-bowman-aeon-capital-inc/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
This FINRA Arbitration our firm settled involved investors who claimed their financial advisor misrepresented and fully failed to disclose the risk of using a highly leveraged credit spread strategy. Further, the clients alleged that the financial advisor associated with a major investment bank placed all of their assets in his unsuitable investment strategy. The account was overleveraged and vulnerable in March 2020 to massive liquidations of securities to meet margin calls at fire sale prices. The case settled prior to the arbitration hearing in January, 2022.
FINRA ARBITRATION SETTLEMENT $2,300,000
This FINRA Arbitration involved a investor who claimed her broker-dealer overconcentrated her accounts in Puerto Rico municipal bonds and closed-end bond funds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous. The case settled in 2017 for an amount far in excess of what the broker-dealer claimed to be her damages.
FINRA ARBITRATION AWARD $1,817,296
Case No. 09-02697
Gerald J. Kazma, et al. v. Citigroup Global Markets, Inc., et al.
The Kazma Family filed an arbitration claim against Citigroup Global Markets, Inc. for losses arising out of a complex municipal arbitrage structured products commonly known as the MAT/ASTA products which were allegedly misrepresented and mismanaged during a municipal bond financial crisis. Mr. Pearce represented scores of investors in connection with the failed MAT/ASTA structured product debacle.
Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $170 Million On Behalf of His Clients?
Over the past two decades, Robert Pearce has successfully secured more than $170 million in recovery for his investor clients. Impressively, he has achieved financial restitution for more than 99% of his investor clientele, utilizing diverse recovery methods such as settlements, arbitrations, and legal proceedings in court.
No investment fraud firm can ever guarantee the same or similar results in any given case. However, when you hire the Law Offices of Robert Wayne Pearce, P.A., you can sleep well knowing you are in qualified and capable hands. Attorney Robert Pearce has represented hundreds of investors over his 40 year career and in the last 20 years alone recovered over $170 million for his investor clients.
Robert Pearce will fight for your rights day in and day out to get you the recovery you are entitled to.
What Can an Investment Fraud Lawyer Do for Investors?
What Can an Investment Fraud Lawyer Do for Investors?
An investment fraud lawyer helps investors recover investment losses that they lost due to a financial advisor or broker who did not act in their best interest. Typically, the lawyer will help the investor recover their losses through a process called FINRA arbitration.
Investment Losses? Let’s talk.or, give us a ring at 800-732-2889.
Client Testimonials
What is the Cost to Hire a Securities Attorney?
A first meeting with a securities lawyer usually comes at no cost. In this session, the attorney will assess your situation and provide an estimation of the legal costs. Should you choose to proceed, you’re likely to enter into a contingency fee contract. This agreement stipulates that payment to the lawyer is contingent upon successfully securing a financial recovery for you. If the lawyer does not win your case, you will not be responsible for paying any legal fees or reimburse expenses.
What Are the Statute of Limitations?
Time is of the essence when it comes to investment fraud cases. Both Alaska and federal laws have statutes of limitations that set deadlines for filing legal claims. In Alaska, the statute of limitations for fraud is generally four years. Federally, the statute of limitations for securities fraud cases is typically five years from the date of the violation or two years from the date the fraud should have been discovered. It’s important to consult with an attorney as soon as possible to ensure your claim is filed within the appropriate time frame.
Types of Investment and Securities Fraud Cases We Can Help Represent You With
There are a variety of investment fraud tactics that unscrupulous brokers and advisors may use.
Our firm has represented investors who have fallen victim to a wide range of investment fraud tactics, including:
- Unsuitable Investments: Recommendations not aligned with the investor’s needs.
- Forced liquidation (forced selling): Broker sold without warning client or advising on margin calls.
- Ponzi Scheme Fraud: Fraudulent investment operation promising high returns.
- Excessive Trading (Churning): Excessive transactions to generate advisor commissions.
- Misrepresentation & Omission: Deceptive or misleading information about investments.
- Breach of Fiduciary Duty: Prioritizing advisor interests over the client’s best interests.
- Unauthorized Trading: Executing trades without client permission.
- Failure to Supervise: Brokerage firms not adequately monitoring advisors.
- Overconcentration or lack of diversification: Holding too much of a single investment, increasing risk.
- Theft or Misappropriation of client funds: Brokers stealing money for their own personal use.
- Mutual Fund Sales Violations: Recommending unsuitable mutual funds or excessive switching.
- Excessive Markups/Markdowns: Inflated prices when buying/selling securities.
- Selling Away: The advisor sells unapproved investments outside the firm.
- Broker & Advisor Negligence: Failure to adhere to industry standards.
- Margin Abuse: Encouraging excessive margin use, leading to high risks.
- Conflicts of Interest: Prioritizing advisor/firm profits over client interests.
- Private Placements: Selling risky, non-registered securities.
- Cryptocurrency Fraud: Deceitful schemes related to digital currencies.
- 401(k) Plan Misconduct: Fiduciary breaches affecting retirement plans.
- Microcap Fraud: Manipulation of stocks of small companies.
- Mining and Mineral Investment Fraud: Schemes involving fictitious investments in mining or minerals.
- EB-5 Immigrant Investor Program Fraud: Scams related to obtaining visas through investment.
- Advance Fee Schemes: Asking for upfront fees in exchange for non-existent investments.
- Including many more that we can’t fit on this list
Contact an Alaska Securities and Investment Fraud Attorney Today
The Law Offices of Robert Wayne Pearce, P.A., is a law firm specializing in representing defrauded investors recover. Alaska investment fraud lawyer Robert Wayne Pearce specializes in getting individuals their money back from bad investments using any and all available methods.
If you’re an investor facing recent losses potentially due to securities or investment fraud, we’re here to offer our assistance.
If you have questions about how to move forward, contact our team online or by phone at 561-338-0037 for a free confidential consultation with an Alaska securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Anchorage, Juneau, Fairbanks, Nome, Sitka, Wasilla, Ketchikan, Palmer, Kenai, Kodiak, and throughout the state of Alaska. Robert Wayne Pearce has decades of first-hand experience in FINRA securities arbitration, and is one of the preeminent experts in this matter both nationwide and internationally.