North Dakota investment fraud attorney Robert Wayne Pearce at the Law Offices of Robert Wayne Pearce P.A., have extensive experience representing investors and organizations in securities arbitrations through FINRA in the State of North Dakota.
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 North Dakota-based investor.
With over 40 years of experience representing investors, we recognize the stress and frustration that accompanies falling victim to investment fraud. We are dedicated to guiding you through the legal process and ensuring that those responsible are held 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 North Dakota 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 equated with securities fraud, refers to the use of deceitful tactics, such as providing false or misleading information, to influence investment decisions that cause significant financial losses for investors. Unscrupulous brokers might also engage in the direct theft of 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 unsuitable recommendations not in your best interest, fraudulent representations about the nature, mechanics and risks of the investment, 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 advisers frequently market new and complex investment products to generate high commissions and profits, without considering whether their clients can absorb potential losses. These intricate investment options and strategies, appropriate only for a minority of investors ready to embrace substantial risks, are occasionally employed to conceal excessive trading and risk exposure within 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.
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.
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.
North Dakota and Federal Laws That Protect Investors
North Dakota investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- North Dakota Securities Act: The cornerstone of North Dakota 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.
- North Dakota Business Corporation Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- North Dakota Unfair Trade Practices Act (UTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- North Dakota Securities Department: This agency is the primary watchdog for the North Dakota securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the North Dakota Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm North Dakota 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
- North Dakota Securities Department: https://www.securities.nd.gov/
- Office of the North Dakota Attorney General, Consumer Protection Division: https://attorneygeneral.nd.gov/consumer-resources/
- FINRA: https://www.finra.org/
- SEC – https://www.sec.gov/
How our North Dakota 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.
The earlier you take action, the better your chances of securing compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have a strong track record of helping numerous investors reclaim their losses from investment fraud. We will conduct a comprehensive investigation of your case to identify any misrepresentations or fraudulent activities, and we will vigorously pursue justice and the compensation you rightfully 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 are going to need an experienced attorney to help you prove that your broker-dealer or financial advisor violated the law and caused you damages. Depending upon the facts and circumstances, there are many different statutory and common law claims. You will need a skilled attorney to avoid missteps that could ruin your chance of success.
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 North Dakota, including:
- https://www.secatty.com/investigations/benjamin-ankrum-american-financial-services/
- https://www.secatty.com/investigations/gary-sauve-centaurus-financial/
- https://www.secatty.com/investigations/nicole-bertsch-american-independent-securities-group/
- https://www.secatty.com/investigations/john-carlson-capital-financial-services/
- https://www.secatty.com/investigations/douglas-schmitz-classic/
- https://www.secatty.com/investigations/donavon-wagner-woodbury-financial-services/
- https://www.secatty.com/investigations/angela-mccarthy-ameriprise-financial-services/
- https://www.secatty.com/investigations/steven-wurzer-morgan-stanley/
- https://www.secatty.com/investigations/james-syvertson-morgan-stanley/
- https://www.secatty.com/investigations/ryan-benning-berthel-fisher-company-financial-services/
- https://www.secatty.com/investigations/brion-norby-concorde-investment-services/
- https://www.secatty.com/investigations/brent-lee-concorde-investment-services/
- https://www.secatty.com/investigations/kip-schmidt-woodbury-financial-services/
- https://www.secatty.com/investigations/dale-roehrich-parkland-securities-llc/
- https://www.secatty.com/investigations/joanne-christianson-capital-financial-services/
- https://www.secatty.com/investigations/regan-rohl-wells-fargo-advisors-financial-network-llc/
- https://www.secatty.com/investigations/edward-ankrum-ameriprise-financial-services/
- https://www.secatty.com/investigations/jeffrey-partridge-lpl-financial-2/
- https://www.secatty.com/investigations/ted-norman-ameriprise-financial-services/
- https://www.secatty.com/investigations/randall-bothwell-nylife-securities/
- https://www.secatty.com/investigations/travis-tupper-kovack-securities/
- https://www.secatty.com/investigations/brent-miller-nylife-securities/
- https://www.secatty.com/investigations/james-anderson-ameritas-investment-corp/
- https://www.secatty.com/investigations/cara-miller-mariner-wealth-advisors/
- https://www.secatty.com/investigations/angela-mccarthy-ameriprise-financial-services/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION AWARD $5,887,498
Case No. 17-02354
Jose E. Blanco Garrido, et al. v. UBS Financial Services Inc. of PR, et al.
In this FINRA arbitration against UBS Financial Services, Inc. and its Puerto Rican subsidiary, the issue was the excessive concentration of Mr. Blanco’s family assets in Puerto Rico municipal bonds and closed-end bond funds. The arbitrators ruled in favor of the Blanco family, awarding nearly all of their claimed losses, plus over $1.5 million in prejudgment interest and $170,000 in litigation expenses. These awards stemmed from an unsuitable recommendation to retain their Puerto Rican securities during the risky market conditions of fall 2012. The decision came after 40 hearing sessions, concluding in 2019.
FINRA ARBITRATION SETTLEMENT $5,000,000
In this FINRA Arbitration, investors alleged that their financial advisor misrepresented and completely failed to disclose the risks associated with a highly leveraged credit spread strategy. Additionally, they claimed that the financial advisor, who was affiliated with a major investment bank, inappropriately concentrated all their assets in this unsuitable investment approach. In March 2020, the account became excessively leveraged and was susceptible to significant securities liquidations at drastically reduced prices to satisfy margin calls. The case was settled before the arbitration hearing scheduled for September 2023.
FEDERAL COURT CLASS ACTION SETTLEMENT $4,300,000
Case No. 14-001695-CI
State of Florida, Office of Financial Regulation v. Tri-Med Corp., et al.
Mr. Pearce served as co-counsel alongside the Receiver in a class action lawsuit targeting accounting and legal professionals accused of aiding and abetting a Ponzi scheme. After the case was transferred from state to Federal court, it underwent several years of litigation. Ultimately, the lawsuit was settled in 2017 through mediation, resulting in the law and accounting firms paying over $4.3 million to the receivership for the benefit of the investors.
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 meeting with a securities attorney usually doesn’t cost anything. In this meeting, the attorney will examine your situation and provide an estimate of the potential legal costs. If you choose to proceed, you’ll likely be asked to sign a contingency fee agreement. This type of agreement stipulates that you only need to pay the attorney if they successfully recover funds for you. If the attorney doesn’t succeed, you won’t owe any legal fees.
What Are the Statute of Limitations?
In investment fraud cases, acting quickly is crucial due to statutes of limitations imposed by both North Dakota and federal law, which establish strict deadlines for filing legal claims. Under North Dakota law, the statute of limitations for fraud typically extends five years from the time the party became aware or should have been aware of the facts constituting the alleged violation. On the federal level, the deadline for filing securities fraud cases is generally five years from the date of the fraud or two years from when the fraud could have been discovered. Consulting with an attorney promptly is essential to make sure your claim is submitted within these time limits.
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 North Dakota 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. North Dakota 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 North Dakota securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Fargo, Bismarck, Grand Forks, Minot, West Fargo, Williston, Dickinson, Mandan, Jamestown, Wahpeton, North Dakota and throughout the state. 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.