Vermont 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 Vermont.
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 Vermont-based investor.
You trusted your financial advisor for years and suddenly your account is down thousands of dollars. We recognize the stress and frustration that investment fraud can cause, and we are committed to guiding you through the legal process to ensure those accountable are held responsible.
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 Vermont 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.
All forms of investment fraud aim to deceive investors into taking actions that benefit the perpetrator financially. This may include schemes to invest in unsuitable, high commission, illiquid, and high-risk structured products, business development companies, REITs, 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 or strategies, driven by the potential for high commissions and profits, without fully considering if their clients can manage the potential losses. These intricate investments and/or strategies, appropriate for only a small segment of investors ready to undertake substantial risks, are often employed to conceal excessive trading and risks in accounts.
Example Scenario: A broker convinces an investor to allocate a substantial amount of their retirement funds into a high-risk, illiquid investment, minimizing the associated risks and overstating the potential gains. The broker also urges the investor to make a hasty decision. Eventually, the investment collapses, resulting in severe 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.
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.
Vermont and Federal Laws That Protect Investors
Vermont investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- Vermont Uniform Securities Act: The cornerstone of Vermont 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.
- Vermont Business Corporation Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- Vermont Consumer Fraud Act: This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Vermont Commissioner of Financial Regulation: This agency is the primary watchdog for the Vermont securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Vermont Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Vermont 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
- Vermont Commissioner of Financial Regulation: http://dfr.vermont.gov/file-complaint-or-ask-help/securities
- Office of the Vermont Attorney General, Consumer Protection Division: http://ago.vermont.gov/divisions/consumer-protection
- FINRA: https://www.finra.org/
- SEC – https://www.sec.gov/
How our Vermont Securities Law Attorneys Can Help You
While losses are inherent in investing, brokers who engage in fraudulent practices can be held legally accountable. If you suspect that you have been defrauded by your broker, it is crucial to seek the assistance of an experienced investment fraud attorney. Additionally, it may be necessary to report the issue to regulatory authorities such as the SEC or FINRA, which handle cases of market manipulation and insider trading.
The quicker you take action, the better your chances of securing compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have successfully assisted numerous investors in recouping losses caused by investment fraud. We will diligently investigate your case, expose any misrepresentations or fraudulent activities, and advocate vigorously to secure the justice and 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 must prove that your broker-dealer or financial advisor violated the Vermont Uniform Securities Act, federal securities laws, breached their fiduciary duty to you as an investor or was negligent in recommending, monitoring, or managing your account.
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 Vermont, including:
- https://www.secatty.com/investigations/cody-greene-nylife-securities/
- https://www.secatty.com/investigations/erik-moreau-vanderbilt-securities/
- https://www.secatty.com/investigations/robert-brinckerhoff-morgan-stanley/
- https://www.secatty.com/investigations/joseph-malboeuf-lpl-financial/
- https://www.secatty.com/investigations/louis-olave-lincoln-investment/
- https://www.secatty.com/investigations/adam-lory-edward-jones/
- https://www.secatty.com/investigations/arthur-grossbard-ameriprise-financial/
- https://www.secatty.com/investigations/daniel-pellerin-edward-jones/
- https://www.secatty.com/investigations/robert-souliere-pruco-securities/
- https://www.secatty.com/investigations/robert-perlman-ubs-financial-services/
- https://www.secatty.com/investigations/chad-boal-fbl-marketing-services/
- https://www.secatty.com/investigations/brian-rosen-southeast-investments-n-c/
- https://www.secatty.com/investigations/marc-seeherman-calton-associates/
- https://www.secatty.com/investigations/john-gatto-merrill-lynch-pierce-fenner-smith/
- https://www.secatty.com/investigations/brian-segal-mml-investors-services/
- https://www.secatty.com/investigations/scott-rosenberg-ubf-financial-services/
- https://www.secatty.com/investigations/david-gwynn-h-beck-inc/
- https://www.secatty.com/investigations/arthur-caruso-morgan-stanley/
- https://www.secatty.com/investigations/ian-baker-lpl-financial/
- https://www.secatty.com/investigations/roderick-rodriguez-infinex-investments/
- https://www.secatty.com/investigations/keith-medeck-arete-wealth-management/
- https://www.secatty.com/investigations/joseph-rozof-revere-securities/
- https://www.secatty.com/investigations/whittaker-mack-jp-morgan-securities/
- https://www.secatty.com/investigations/rami-sassoon-cetera-advisors/
- https://www.secatty.com/investigations/albert-foronda-spartan-capital-securities-llc/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
In a FINRA Arbitration case that our firm resolved, investors alleged that their financial advisor, associated with a major investment bank, had misrepresented and completely failed to disclose the risks associated with a highly leveraged credit spread strategy. Moreover, the clients claimed that the advisor placed all their assets into this unsuitable strategy, leaving their account overleveraged and exposed to significant liquidations of securities at greatly reduced prices to meet margin calls in March 2020. The case was settled before the arbitration hearing scheduled for January 2022.
FINRA ARBITRATION SETTLEMENT $6,000,000
This FINRA arbitration involved a prominent U.S. broker-dealer and its offshore subsidiary and centered on the excessive concentration of client accounts in Puerto Rico municipal bonds and closed-end funds, along with unsuitable “hold” recommendations during known risky market conditions. The case settled for $6 million partway through the arbitration proceedings, despite the broker-dealers’ claims that the clients’ accounts had generated millions in profits over several years.
FEDERAL COURT CLASS ACTION SETTLEMENT $4,300,000
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 and underwent several years of litigation, it was ultimately settled through mediation. As a result, law and accounting firms paid over $4.3 million to the receivership, benefiting 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 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 the statutes of limitations set by both Vermont and federal laws, which impose deadlines for filing legal claims. In Vermont, the time limit for filing securities fraud claims aligns with the federal statute, which is two years from when the fraud could have reasonably been discovered, but no later than five years from the date the fraud occurred. It’s essential to consult an attorney promptly to ensure your claim is filed within these specified time frames.
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 Vermont 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. Vermont 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 Vermont securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with Vermont clients in Burlington, South Burlington, Rutland, Milton, Hartford, Essex Junction, Middlebury, Barre, Montpelier, Winooski 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.