Rhode Island 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 Rhode Island.

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 Rhode Island-based investor.

Too often victims of investment fraud or securities fraud are burdened with guilt over what happened to them. It’s our fault we lost everything. No it’s not your fault. 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 $175 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 Rhode Island 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 benefit the perpetrator. This could involve tactics such as churning, unauthorized trading outside the firm (selling away), Ponzi schemes, pump-and-dump schemes, or the sale of unregistered securities. Engaging in securities fraud is both illegal and unethical, and it is 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 advisers often sell new and exotic investment products to earn high commissions and profits, regardless of whether their clients are prepared to handle potential losses. These complex investment products and strategies, which are suitable only for a small portion of investors willing to take significant risks, are sometimes used to obscure excessive trading and risk within accounts.

Example Scenario: A broker convinces an investor to allocate a substantial part of their retirement savings to a high-risk, illiquid investment. The broker minimizes the risks and exaggerates the potential returns, while urging the investor to make a rapid decision. Eventually, the investment fails, resulting in considerable financial losses for the investor.

When you initially engaged your broker-dealer, you probably expected them to prioritize your best interests. However, numerous brokers and financial advisors fail to fulfill their fiduciary responsibilities or may even engage in outright securities fraud. They could deceive you about the nature of investments, hide associated risks, partake in excessive trading (known as churning) to rack up commissions, or impose 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.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

Rhode Island and Federal Laws That Protect Investors

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

  • Key Laws and Regulations
    • Rhode Island Uniform Securities Act: The cornerstone of Rhode Island 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.
    • Rhode Island Business Corporation Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
    • Rhode Island Deceptive Trade Practices (DTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
  • Governing Agencies
    • Rhode Island Department of Business Regulation/Securities Division: This agency is the primary watchdog for the Rhode Island securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
    • Office of the Rhode Island Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Rhode Island 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

How our Rhode Island 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 quicker you take action, the better your chances of obtaining compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have assisted numerous investors in recouping losses from investment fraud. We will conduct a detailed investigation into your case to reveal any misrepresentations or fraudulent activities and advocate vigorously to secure the justice and compensation you rightfully deserve.

If you’ve suffered financial losses due to a stockbroker’s or advisor’s negligence or fraud, the simplest way to determine if you have a case is to contact our office at 800-732-2889. Here’s how our skilled and experienced investment fraud law firm can represent and support 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 the Rhode Island Uniform Securities Act, Securities Act of 1933, Securities Exchange Act of 1934, breached their fiduciary duty to you as an investor, or acted negligently.

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 are presently conducting investigations into multiple financial firms and stockbrokers in Rhode Island who may have received customer complaints, could be facing legal action, and are suspected of acting unethically or committing fraud, including:

Click Here to see more

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.

This FINRA arbitration case involved UBS Financial Services, Inc. and its Puerto Rican branch concerning the excessive concentration of the Blanco family’s assets in Puerto Rican municipal bonds and closed-end bond funds. The arbitrators ruled substantially in favor of the Blanco family, awarding them nearly all of their investment losses, over $1.5 million in prejudgment interest, and all litigation expenses totaling $175,000. This decision followed an unsuitable recommendation by UBS to “hold” their Puerto Rican securities in the fall of 2012, a time of risky market conditions. The award was issued after 40 hearing sessions in 2019.

FINRA ARBITRATION SETTLEMENT $5,000,000

This FINRA Arbitration case featured investors who alleged that their financial advisor, affiliated with a major investment bank, misrepresented and failed to fully disclose the risks associated with a highly leveraged credit spread strategy. Moreover, the clients claimed that the advisor inappropriately concentrated all their assets in this unsuitable investment approach. In March 2020, the account was overleveraged, leading to extensive securities liquidations at significantly reduced prices to satisfy margin calls. The case was settled before the arbitration hearing in 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, serving as co-counsel with the Receiver, represented investors in a class action lawsuit against accounting and legal professionals accused of aiding and abetting a Ponzi scheme. After the case was transferred from state to federal court and underwent several years of litigation, it was settled in 2017 through mediation. The resolution included a payment exceeding $4.3 million from the law and accounting firms to the receivership for the benefit of the investors.

Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $175 Million On Behalf of His Clients

Over the past two decades, Robert Pearce has secured more than $175 million in recoveries for his investor clients. Impressively, he has successfully recovered funds for over 99% of his investor clients through different recovery methods, including settlements, arbitrations, and court litigations.

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 $175 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?

investment fraud lawyers

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


Good
Based on 40 reviews
Barbara Lowe
Barbara Lowe
2021-08-22
I greatly appreciate the introduction to Bob Pearce. Exceptional in all respects, his experience and expertise along with Bob’s genuine goal to succeed on my behalf was extraordinary. If there was a scale from one to ten… he would no doubt rate a TEN from me. Extremely satisfied and highly recommend! Sincerest regards. BL
Franklyn Clarke
Franklyn Clarke
2021-06-11
If you are looking for an attorney who is not intimidated by the big name firms, I highly recommend Robert W Pearce. From start to finish, he and his team took control of the case and only got me involved when absolutely necessary. The frivolous complaints were removed from my file.
Kathi Carlson
Kathi Carlson
2021-04-28
Robert Pearce has vast knowledge and experience in this specialized field of law. I highly recommend this true professional!
Mi Di
Mi Di
2021-04-14
Mr. Pearce efficiently and professionally solved my registration issues with the Florida Office of Financial Regulation.

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?

When dealing with investment fraud cases, acting swiftly is crucial due to strict filing deadlines set by both Rhode Island and federal statutes of limitations. In Rhode Island, the general statute of limitations for common law fraud is ten years. For unlawful securities violations, the timeframe is one year from when the fraud could reasonably have been discovered, but no longer than three years from the act, omission, or transaction causing the violation. At the federal level, the statute of limitations for securities fraud is typically five years from the date of the violation or two years from when the fraud should have been discovered. Consulting with an attorney promptly is vital to ensure your claim is filed within these legal timeframes.

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 Rhode Island 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. Rhode Island 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 Rhode Island securities lawyer. We will fight aggressively for your financial recovery and for justice.

Our law firm works with clients in Providence, Warwick, Cranston, Pawtucket, East Providence, Woonsocket, Newport, Central Falls, Westerly, Newport East, and throughout the state of Rhode Island. 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.