Iowa investment fraud attorney Robert Wayne Pearce at the Law Offices of Robert Wayne Pearce P.A., has extensive experience representing and winning for investors and organizations in securities arbitrations through FINRA in the State of Iowa.
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 Iowa-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 Iowa 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, often referred to in the same context as securities fraud, encompasses the use of deceitful tactics, such as providing false or misleading details, to influence 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 market novel and complex investment options to secure high commissions and profits, without fully considering if their clients can sustain potential financial setbacks. Such intricate investment solutions and tactics, appropriate only for a minority of investors open to high-risk ventures, may also serve to conceal overactive trading and heightened 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 engaging a broker-dealer probably came with the expectation that they would prioritize your best interests. Regrettably, numerous brokers and financial advisors either fall short of fulfilling their fiduciary responsibilities or engage in outright securities fraud. Such misconduct can include misleading you regarding investment opportunities, hiding potential risks, indulging in excessive trading (also known as churning) to rake in commissions, or imposing undisclosed fees to inflate charges.
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.
Iowa and Federal Laws That Protect Investors
Iowa investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- Iowa Uniform Securities Act: The cornerstone of Iowa 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.
- Iowa Business Corporations Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- Iowa Deceptive Trade Practices Act (DTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Iowa Dept. of Insurance and Financial Services: This agency is the primary watchdog for the Iowa securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Iowa Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Iowa 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
- Iowa State Securities Board: https://iid.iowa.gov/regulated-entities/securities-investments/registration
- Office of the Iowa Attorney General, Consumer Protection Division: https://www.iowaattorneygeneral.gov/for-consumers
- FINRA: https://www.finra.org/
- The SEC – https://www.sec.gov/
How our Securities Law Iowa security Attorneys Can Help You
While experiencing losses is an inherent aspect of investing, brokers who engage in fraudulent activities can be subject to legal accountability. Should you suspect that you’ve fallen prey to investment fraud, reaching out to a seasoned investment fraud attorney, who is adept at navigating such cases, is crucial. Additionally, it may be necessary to notify regulatory organizations, such as the SEC or FINRA, about any suspected market manipulation or insider trading incidents.
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’ve incurred financial losses due to a stockbroker’s or advisor’s negligence or fraud, the simplest method to determine whether you have a valid claim is to contact our office at 800-732-2889. Here’s an overview of how our seasoned 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 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 the securities laws or 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 Iowa, including:
- https://www.secatty.com/investigations/james-anderson-cetera-advisor-networks/
- https://www.secatty.com/investigations/brent-albrechtsen-edward-jones/
- https://www.secatty.com/investigations/gregory-tucker-da-davidson-co/
- https://www.secatty.com/investigations/randy-kirkpatrick-lpl-financial/
- https://www.secatty.com/investigations/cody-moran-bankers-life-securities-2/
- https://www.secatty.com/investigations/merriam-rink-ausdal-financial-partners/
- https://www.secatty.com/investigations/kevin-brennan-andrew-garrett-inc/
- https://www.secatty.com/investigations/steve-taton-brokers-iinternational-financial-services/
- https://www.secatty.com/investigations/scott-sernett-northwestern-mutual-investment-svcs/
- https://www.secatty.com/investigations/myles-easter-bankers-life-securities/
- https://www.secatty.com/investigations/mark-gelbman-kestra-investment-services/
- https://www.secatty.com/investigations/john-krohn-principal-securities/
- https://www.secatty.com/investigations/chad-mackland-lion-street-financial/
- https://www.secatty.com/investigations/robin-schultz-moloney-securities-co/
- https://www.secatty.com/investigations/timothy-derouin-northwestern-mutual/
- https://www.secatty.com/investigations/jared-stines-cetera-investment-services/
- https://www.secatty.com/investigations/erin-klang-gradient-securities/
- https://www.secatty.com/investigations/bryan-fiala-of-principal-securities/
- https://www.secatty.com/investigations/keri-blake-lpl-financial/
- https://www.secatty.com/investigations/chad-boal-fbl-marketing-services/
- https://www.secatty.com/investigations/aaron-angstrom-country-capital-management/
- https://www.secatty.com/investigations/mark-wiskus-nylife-securities/
- https://www.secatty.com/investigations/bradley-renberg-ameriprise-financial-services/
- https://www.secatty.com/investigations/troy-sheets-mml-investors-services/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
In a FINRA Arbitration case our firm resolved, our clients accused their financial advisor of misrepresenting and failing to fully disclose the risks associated with a highly leveraged credit spread strategy. Additionally, they claimed that the financial advisor, affiliated with a prominent investment bank, inappropriately concentrated all their assets in this unsuitable strategy. Their account became overly leveraged and was at risk of significant securities liquidations to cover margin calls at drastically reduced prices in March 2020. The settlement was reached before the arbitration hearing in January 2022.
FINRA ARBITRATION SETTLEMENT $6,000,000
This FINRA arbitration against a major broker-dealer in the United States and its off-shore subsidiary involved over-concentration of accounts in Puerto Rico municipal bonds and closed-end funds and unsuitable “hold” recommendations when the broker-dealers knew market conditions were perilous. It settled midway through the arbitration proceeding in 2017 for $6 million even though the broker-dealers claimed the clients’ accounts had received millions of dollars in profits over many years.
FINRA ARBITRATION AWARD $3,266,200
Case No. 90-01044
Jack Friedlander, et al. v. Margaretten Securities
This arbitration involved misrepresentations and unsuitable recommendations that Claimants invest in complex structured products consisting of stripped coupon mortgage-backed securities and pass through certificates. The Claimants were awarded punitive damages and attorney fees and expenses.
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
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 Iowa and federal laws have statutes of limitations that set deadlines for filing legal claims. In Iowa, the statute of limitations for securities fraud is two years from the time of discovery but no more than five years from the date of the violation. 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 Iowa 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. Iowa 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 an Iowa securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Des Moines, Cedar Rapids, Davenport, Sioux City, Iowa City, West Des Moines, Ankeny, Waterloo, Ames, Council Bluff, and throughout the state of Iowa. 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.