Connecticut’s own distinguished 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 in the State of Connecticut.
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 a Connecticut-based investor.
We recognize the distress and strain that accompanies falling victim to investment fraud, and we’re committed to assisting you through the legal journey to seek accountability from those responsible.
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 Connecticut 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.
Every type of investment fraud is designed to trick investors into making decisions that financially favor the fraudster. Such schemes can range from Ponzi and pump-and-dump schemes to the distribution of unregistered securities. Securities fraud constitutes both an unlawful and unethical practice, subject to legal penalties.
“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 advisors frequently market innovative and unconventional investment options to secure high commissions and profits, without fully considering if their clients can bear the potential losses. These intricate investment solutions and tactics, appropriate for only a minority of investors ready to embrace substantial risks, may occasionally serve to conceal excessive trading activities and 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.
Initially, when you engaged with your broker-dealer, you probably placed your trust in them to prioritize your interests. However, it’s unfortunate that numerous brokers and financial advisors either fail to meet their fiduciary obligations or engage directly in securities fraud. They may provide misleading information about investments, hide risks, participate in excessive trading (known as churning) for the sake of commissions, or impose hidden fees, resulting in overcharges.
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.
Connecticut and Federal Laws That Protect Investors
Connecticut investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- The Connecticut Uniform Securities Act: The cornerstone of Connecticut 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 Connecticut Business Corporations Act This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- The Connecticut Unfair Trade Practices Act (UTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Connecticut State Securities Board: This agency is the primary watchdog for the Connecticut securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Connecticut Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Connecticut 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
- Connecticut State Securities Board: https://portal.ct.gov/DOB/Securities-Division-Administration/Securities-Division-Administration/Securities-and-Business-Investments-Division
- Office of the Connecticut Attorney General, Consumer Protection Division: https://portal.ct.gov/AG/Sections/Consumer-Protection
- FINRA: https://www.finra.org/
- The SEC – https://www.sec.gov/
How our Connecticut 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. Regulatory bodies like the SEC or FINRA might also need to be alerted to potential market manipulation or insider trading.
Acting quickly enhances your opportunity to secure compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have a track record of assisting numerous investors in recouping losses from investment fraud. Our approach involves a comprehensive examination of your situation to identify any deceit or fraud, and we are committed to pursuing justice and the 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?
In order to recover your investment losses, you must prove that your broker-dealer or financial advisor breached their fiduciary duty to you as an investor.
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 Connecticut, including:
- https://www.secatty.com/investigations/charles-lee-bankers-life-securities-inc/
- https://www.secatty.com/investigations/keith-everett-pruco-securities /
- https://www.secatty.com/investigations/robert-halldin-american-portfolios-financial-services/
- https://www.secatty.com/investigations/robert-pascale-edward-jones/
- https://www.secatty.com/investigations/niraj-bhanderi-performance-trust-capital-partners/
- https://www.secatty.com/investigations/patrick-naughton-lpl-financial/
- https://www.secatty.com/investigations/roderick-duxbury-raymond-james-financial /
- https://www.secatty.com/investigations/ethan-reid-morgan-stanley/
- https://www.secatty.com/investigations/charles-lombardi-morgan-stanley/
- https://www.secatty.com/investigations/catherine-calandra-morgan-stanley/
- https://www.secatty.com/investigations/bernard-waters-wherbert-j-sims-co/
- https://www.secatty.com/investigations/richard-rustic-commonwealth-financial-network/
- https://www.secatty.com/investigations/john-kuehnle-9osaic-institutions/
- https://www.secatty.com/investigations/charles-beyer-edward-jones/
- https://www.secatty.com/investigations/christopher-fletcher-lpl-financial-llc/
- https://www.secatty.com/investigations/edward-baroncini-lpl-financial/
- https://www.secatty.com/investigations/ronald-balzano-morgan-stanley/
- https://www.secatty.com/investigations/michael-coughlin-morgan-stanley/
- https://www.secatty.com/investigations/lisa-capobianco-morgan-stanley/
- https://www.secatty.com/investigations/michael-weiss-sr-morgan-stanley/
- https://www.secatty.com/investigations/john-rotando-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/john-pasacreta-jr-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/robert-masanotti-j-p-morgan-securities/
- https://www.secatty.com/investigations/john-florio-northwestern-mutual-investment-services/
- https://www.secatty.com/investigations/joe-celotto-jr-merrill-lynch-pierce-fenner-smith/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
In this FINRA Arbitration case our firm resolved, investors accused their financial advisor of misrepresenting and completely failing to explain the risks associated with a highly leveraged credit spread strategy. Moreover, the clients claimed that the financial advisor, who was affiliated with a major investment bank, inappropriately concentrated their entire portfolio in this unsuitable investment approach. As a result, the account was excessively leveraged and exposed to significant losses in March 2020, leading to forced liquidations of securities at greatly reduced prices to cover margin calls. The settlement was reached before the arbitration hearing in January 2022.
FINRA ARBITRATION AWARD $2,752,049
Case No. 10-03554
College Health and Investment, Ltd. v Wells Fargo Advisors LLC
The FINRA Arbitration case involving College Health against Wells Fargo Advisors came after a Federal court action that accused the firm of assisting and abetting the defendant in the original case in misappropriating funds from the family holding company’s brokerage account with the firm.
FINRA ARBITRATION SETTLEMENT $2,500,000
This FINRA Arbitration involved investors who claimed their broker-dealer overconcentrated their accounts in Puerto Rico municipal bonds and further made an unsuitable recommendation to “hold” those positions when it knew market conditions were perilous. The case settled in 2019.
Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $170 Million On Behalf of His Clients?
In the last 20 years alone, Robert Pearce has recovered over $170 million for his investor clients. In fact, he has recovered funds for over 99% of his investor clients through various avenues of recovery, including settlements, arbitrations, and court litigation.
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?
An initial consultation with a securities attorney is typically free. During this consultation, the lawyer will review your case and give you an estimate of the legal fees. If you decide to move forward with the case, you will typically be asked to sign a contingency fee agreement.
A contingency fee agreement means that you will only have to pay the lawyer if he or she is successful in recovering money on your behalf. If the lawyer is not successful, you will not owe any legal fees.
What Are the Statute of Limitations?
Time is of the essence when it comes to investment fraud cases. Both Connecticut and federal laws have statutes of limitations that set deadlines for filing legal claims. In Connecticut, the statute of limitations for fraud is generally three years. The Connecticut and Federal statute of limitations for securities fraud cases is typically five years.. 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 a Connecticut 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. Connecticut 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 who has experienced investment losses potentially due to securities or investment fraud recently, we are 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 a Connecticut securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Bridgeport, New Haven, Hartford, Waterbury, Norwalk, Danbury, New Britain, West Hartford, Bristol, Meriden, and throughout the state of Connecticut. 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.