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Maine

Maine Investment Fraud Lawyer

Investment fraud victims often blame themselves, but brokerage firm misconduct is never your fault The Law Offices of Robert Wayne Pearce P.A., for 45 years, has successfully represented investors in securities arbitrations throughout the state of Maine as well as nationwide. Maine has the nation's oldest median age – with about one in five residents at least 65 years. Its large retiree population of 1.4 million often holds substantial savings, making them an exposed target for scams and investor misconduct.

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⭐⭐⭐⭐⭐ We're a Top-Rated Maine Law Firm for Investors
22.90% Maine Residents Age 65+ - Prime Fraud Targets
$31.5M Lost to Fraud by Maine Residents (FBI, 2024)
$185M+ Recovered for Investors Nationwide

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 aggressive investment and securities fraud lawyer who is dedicated to protecting your rights as a Maine-based investor.

Our firm’s litigation team will sit with you to evaluate your situation. We will aggressively identify the strongest path to reclaim your financial security in securities arbitrations through the appropriate forum – FINRA, securities litigation, or settlement negotiations as necessary.

We’ve helped hundreds of investors like you hold negligent brokers accountable and rebuild their futures and we stand ready to fight for your recovery.

We recognize the stress and frustration experienced by victims of investment fraud, and we’re committed to guiding you through the legal proceedings to ensure those accountable are held responsible.

What is 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.

Example Scenario: A broker convinces an investor to allocate a substantial part of their retirement funds into a high-risk, non-liquid investment, minimizing the associated risks and exaggerating the potential gains while urging the investor to decide swiftly. This investment eventually collapses, resulting in considerable financial losses for the investor.

When you first hired your broker-dealer, it’s likely that you trusted them to put your best interests first. Unfortunately, many brokers and financial advisors don’t live up to their fiduciary duty or have committed outright securities fraud. They might mislead you about investments, conceal risks, engage in excessive trading (churning) to generate commissions, or overcharge you with hidden fees.

Maine and Federal Laws That Protect Investors

Maine investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:

Key Laws and Regulations
- Maine Uniform Securities Act: The cornerstone of Maine 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.
- Maine Business Corporation Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- Maine Unfair Trade Practices Act: This broad law empowers investors to take action against unfair or deceptive investment practices.

Governing Agencies
- Maine Office of Securities: This agency is the primary watchdog for the Maine securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Maine Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Maine 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

Maine Office of Securities: https://www.maine.gov/pfr/securities/licensing/index.htm

Office of the Maine Attorney General, Consumer Protection Division: https://www.maine.gov/ag/consumer/index.shtml

FINRA: https://www.finra.org/

SEC – https://www.sec.gov/

Maine Securities Laws

The Maine Uniform Securities Act (32 M.R.S. §16101 et seq.) is the state’s main securities law. Section 16501 bars using a scheme to defraud, making an untrue statement of a material fact, or omitting a material fact that makes other statements misleading in a securities offer, sale, or purchase. The Act also requires brokers, advisers, and many securities to be registered or licensed unless exempt.

This law is part of what are called “blue sky laws.” These state laws give regulators authority over securities activity and misconduct within the state.

The Maine Office of Securities enforces the Act. Its broker-dealer and agent rules (02-032 C.M.R. ch. 504, §8) list dishonest or unethical practices that can lead to discipline, including unsuitable recommendations, trades without authority, unreasonable fees, and misleading advertising. Chapter 515 covers advisers.

How our Maine Securities Law Attorneys Can Help You

While experiencing losses is a natural aspect of investing, brokers engaging in fraudulent activities are subject to legal accountability. If you suspect you’ve been subjected to investment fraud, reaching out to a lawyer specializing in these matters is crucial. Additionally, it may be necessary to inform regulatory agencies 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.

Learn how our experienced investment fraud law firm can represent your interests:

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 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.

What Are Maine’s Statute of Limitations?

In Maine, the timeframe to file securities fraud lawsuits aligns with the federal statute, generally allowing five years from the breach or two years from when the fraud could have reasonably been detected.

Consulting with an attorney promptly is vital to guarantee that your claim is lodged within the stipulated deadlines.

Contact our Maine Securities and Investment Fraud Specialist Attorneys Today

The Law Offices of Robert Wayne Pearce, P.A., is a law firm specializing in representing defrauded investors recover. Maine 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 call our Portland, ME office number at (800) 732-2889 for a free confidential consultation with a Maine securities lawyer. We will fight aggressively for your financial recovery and for justice.

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[Written by attorney Robert Wayne Pearce (Attorney Bio)]