Hawaii investment fraud attorney Robert Wayne Pearce at at the Law Offices of Robert Wayne Pearce P.A., have extensive experience representing investors and organizations in securities arbitrations through FINRA in our beautiful Aloha State.
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 Hawaii-based investor.
We understand the frustration and stress that comes with being a victim of investment fraud, and we are here to help you navigate the legal process and hold those responsible accountable.
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 Hawaii 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
The term “investment fraud” is often used synonymously with “securities fraud,” referring to the employment of deceitful tactics, such as the provision of false or misleading information, to sway investors into making decisions that lead to significant financial losses. Unscrupulous brokers might go as far as directly stealing funds or securities from investors.
All forms of investment fraud aim to deceive investors into taking actions that benefit the perpetrator financially. This may include schemes like 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 advisors frequently promote novel and complex investment offerings to generate substantial commissions and profits, without fully considering if their clients can sustain potential losses. These intricate investment solutions and approaches, appropriate for only a limited group of investors open to high risks, can at times serve to conceal excessive trading 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.
Upon hiring your broker-dealer, you probably expected them to prioritize your interests. However, numerous brokers and financial advisors fall short of meeting their fiduciary responsibilities, or they may even engage in outright securities fraud. This could involve providing misleading information about investments, hiding associated risks, participating in unnecessary frequent trading (churning) to accrue 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.
Hawaii and Federal Laws That Protect Investors
Hawaii investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- The Hawaii Uniform Securities Act: The cornerstone of Hawaii 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 Hawaii 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 Hawaii Uniform Deceptive Trade Practices Act (UDTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Hawaii State Securities Board: This agency is the primary watchdog for the Hawaii securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Hawaii Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Hawaii 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
- Hawaii State Securities Board: https://cca.hawaii.gov/sec/
- Office of the Hawaii Attorney General, Consumer Protection Division: https://cca.hawaii.gov/consumer-complaints/
- FINRA: https://www.finra.org/
- The SEC – https://www.sec.gov/
How our Hawaii Securities Law Attorneys Can Help You
Indeed, experiencing losses is an inherent aspect of investing, yet brokers who engage in fraudulent activities can be held accountable under the law. If you suspect that you’ve been subjected to investment fraud, reaching out to a seasoned investment fraud attorney who is well-versed in such matters is crucial. Additionally, it may be necessary to inform regulatory organizations such as the SEC or FINRA about possible instances of market manipulation or insider trading.
The sooner you act, the greater your chances of recovering compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have helped countless investors recover their losses due to investment fraud. We will thoroughly investigate your case, uncovering any misrepresentation or fraudulent activity, and fight to get you justice and the compensation you deserve.
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 violated investor protection statutes, breached their fiduciary duty to you as an investor, acted negligently, or violated FINRA Conduct 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 Hawaii, including:
- https://www.secatty.com/investigations/randy-yamada-equitable-advisors-2/
- https://www.secatty.com/investigations/susan-coriale-gwn-securities-inc/
- https://www.secatty.com/investigations/michael-miura-equitable-advisors/
- https://www.secatty.com/investigations/james-lacey-jr-morgan-stanley/
- https://www.secatty.com/investigations/david-omura-commonwealth-financial-network/
- https://www.secatty.com/investigations/dustin-insley-edward-jones/
- https://www.secatty.com/investigations/kyle-woods-edward-jones/
- https://www.secatty.com/investigations/eric-schwager-merrill-lynch-pierce-fenner-smith/
- https://www.secatty.com/investigations/john-aguilera-osaic-wealth/
- https://www.secatty.com/investigations/garrett-tognozzi-j-p-morgan-securities-llc/
- https://www.secatty.com/investigations/deanna-quintanilla-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/eric-tillotson-raymond-james-financial-services/
- https://www.secatty.com/investigations/akiva-fialkoff-j-p-morgan-securities/
- https://www.secatty.com/investigations/manuel-ramos-centaurus-financial/
- https://www.secatty.com/investigations/james-saar-center-street-securities-2/
- https://www.secatty.com/investigations/gregory-sain-morgan-stanley/
- https://www.secatty.com/investigations/douglas-frank-wells-fargo-advisors-financial-network/
- https://www.secatty.com/investigations/jacquelyn-gallo-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/timothy-gardner-ameriprise-financial-services/
- https://www.secatty.com/investigations/david-gilchrist-merrill-lynch-pierce-fenner-smith-incorporated-2/
- https://www.secatty.com/investigations/stewart-ginn-independent-financial-group/
- https://www.secatty.com/investigations/michael-hardy-ubs-financial-services-inc/
- https://www.secatty.com/investigations/patrick-hobert-centaurus-financial/
- https://www.secatty.com/investigations/tuangporn-jackson-ameriprise-financial-services-2/
- https://www.secatty.com/investigations/talin-kalfayan-western-international-securities-2/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,500,000
This FINRA Arbitration involved Puerto Rico investors who claimed their Puerto Rico broker-dealer over-concentrated and over-leveraged their accounts in Puerto Rico municipal bonds and further made unsuitable recommendations to “hold” those positions when it knew market conditions were perilous. The case settled prior the arbitration hearing in 2021.
FINRA ARBITRATION SETTLEMENT $8,214,596
In this FINRA Arbitration, investors accused their financial advisor of misrepresenting and not disclosing the risks associated with a highly leveraged credit spread strategy. They further claimed that the advisor, who was with a leading investment bank, inappropriately allocated all their assets into this unsuitable strategy. As a result, their account was excessively leveraged and at risk of substantial security liquidations to satisfy margin calls at drastically reduced prices in March 2020. The dispute was resolved with a settlement before the scheduled arbitration hearing in January 2022.
FLORIDA STATE COURT SETTLEMENT $3,500,000
Mr. Pearce secured a $3.5 million settlement in a state court case he filed on behalf of a trust for an elderly widow against one of the nation’s biggest corporate trustees. The lawsuit alleged that the trustee neglected to diversify a portfolio that was heavily concentrated in a single stock, especially during the financial crisis of 2008-2009. The settlement, reached in 2010, covered nearly all of the widow’s entitled losses, fitting within the brief six-month legal timeframe allowed for filing claims against trustees.
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?
Usually, the first meeting with a securities lawyer is offered at no cost. In this session, the attorney will evaluate your situation and provide an estimate of the potential legal costs. Should you choose to proceed with your case, you’ll likely be asked to agree to a contingency fee arrangement. This type of agreement stipulates that you will only pay legal fees if your lawyer successfully recovers funds for you. If the lawyer doesn’t achieve a favorable outcome, you won’t be required to pay any legal fees.
What Are the Statute of Limitations?
Time is of the essence when it comes to investment fraud cases. Both Hawaii and federal laws have statutes of limitations that set deadlines for filing legal claims. In Hawaii, the statute of limitations for fraud and breach of fiduciary duty is generally two years from the time of discovery with a maximum of six years from the violation. Federally, the statute of limitations for securities fraud cases is also two years from time of discovery but no more than six years from the date of the violation. 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 Hawaii 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. Hawaii investment fraud lawyer Robert Wayne Pearce specializes in getting individuals their money back from bad investments using any and all available methods.
If you are an investor who has recently dealt with investment loss due to potential securities or investment fraud, we want to help.
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 Hawaii securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Honolulu, East Honolulu, Pearl City, Waipahu, Hilo, Kailua, Kaneohe, Kahului, Mililani, Ewa Gentry, and throughout the state of Hawaii. 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.