West Virginia 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 West Virginia.
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 West Virginia-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 West Virginia 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 as securities fraud, involves deceptive tactics such as the dissemination of false or misleading information to influence investor decisions, leading to significant financial losses. Unscrupulous brokers might even engage in the direct theft of funds or securities from investors.
Every type of investment fraud is designed to trick investors into making decisions that financially benefit the fraudster. Common tactics include Ponzi schemes, pump-and-dump schemes, and selling unregistered securities. Securities fraud, encompassing these unethical or illegal activities, 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 amount of their retirement savings to a high-risk, illiquid investment, minimizing the risks and exaggerating the potential returns while urging a swift decision. Eventually, the investment fails, 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.
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.
West Virginia and Federal Laws That Protect Investors
West Virginia investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- West Virginia Uniform Securities Act: The cornerstone of West Virginia 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.
- West Virginia Business Organizations Code: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- West Virginia Deceptive Trade Practices-Consumer Protection Act (DTPA): This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- West Virginia Securities Commission: This agency is the primary watchdog for the West Virginia securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the West Virginia Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm West Virginia 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
- West Virginia Securities Commission: https://www.wvsao.gov/Securities/
- Office of the West Virginia Attorney General, Consumer Protection Division: https://ago.wv.gov/consumerprotection/pages/default.aspx
- FINRA: https://www.finra.org/
- SEC – https://www.sec.gov/
How our West Virginia Securities Law Attorneys Can Help You
While investment losses are a natural aspect of investing, brokers who commit fraud can be held legally accountable. If you suspect you’ve fallen prey to investment fraud, it’s crucial to consult with a lawyer who specializes in these matters. Additionally, informing regulatory organizations such as the SEC or FINRA about possible market manipulation or insider trading is also advisable.
Acting quickly can significantly increase your chances of receiving compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have successfully assisted numerous investors in reclaiming losses from investment fraud. We will meticulously examine your case to reveal any deceit or fraud and diligently work 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 West Virginia Uniform Securities Act, Federal securities statutes, breached their fiduciary duty to you as an investor, disregarded FINRA Code of Conduct, acted negligently in 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 are currently conducting investigations into several financial firms and stockbrokers in West Virginia who have been implicated in customer complaints, may be subject to legal action, and are suspected of unethical behavior and committing fraud, including:
- https://www.secatty.com/investigations/robert-skidmore-money-concepts-capital-corp/
- https://www.secatty.com/investigations/callen-bryan-cetera-advisor-networks/
- https://www.secatty.com/investigations/anthony-williams-merrill-lynch-pierce-fenner-smith/
- https://www.secatty.com/investigations/jefferey-biederman-morgan-stanley/
- https://www.secatty.com/investigations/robert-powers-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/acie-hylton-truist-investment-services/
- https://www.secatty.com/investigations/courtney-kucish-edward-jones-2/
- https://www.secatty.com/investigations/joseph-randolph-wells-fargo-clearing-services/
- https://www.secatty.com/investigations/christopher-passero-money-concepts-capital/
- https://www.secatty.com/investigations/nicholas-armellino-gms-group/
- https://www.secatty.com/investigations/christopher-walters-janney-montgomery-scott/
- https://www.secatty.com/investigations/nina-jessee-cetera-advisors-llc/
- https://www.secatty.com/investigations/jeffrey-mcmahon-lpl-financial/
- https://www.secatty.com/investigations/david-spence-purshe-kaplan-sterling-investments/
- https://www.secatty.com/investigations/frederick-baerenz-kalos-capital/
- https://www.secatty.com/investigations/dawn-bennet-western-international-securities/
- https://www.secatty.com/investigations/ryan-derks-berthel-fisher-company-financial-services/
- https://www.secatty.com/investigations/joseph-altic-lpl-financial/
- https://www.secatty.com/investigations/james-louderbaugh-oppenheimer-co/
- https://www.secatty.com/investigations/mark-falter-investors-capital-corp/
- https://www.secatty.com/investigations/andrew-dittberner-of-lpl-financial/
- https://www.secatty.com/investigations/jason-riney-securian-financial-services/
- https://www.secatty.com/investigations/rodney-ferguson-nylife-securities/
- https://www.secatty.com/investigations/michael-distler-madison-avenue-securities/
- https://www.secatty.com/investigations/mary-swanson-stifel-nicolaus-company-2/
- 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
- 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
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
In a FINRA arbitration that our firm resolved, investors alleged that their financial advisor, affiliated with a major investment bank, misrepresented and failed to fully disclose the risks of a highly leveraged credit spread strategy. Furthermore, the clients claimed that the advisor inappropriately placed all of their assets into this unsuitable investment strategy. In March 2020, the account was overleveraged, leading to extensive liquidations of securities at significantly reduced prices to satisfy margin calls. The case was settled for over $8.2 million a day before the arbitration hearing was scheduled for 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 for $6 million even though the broker-dealers claimed the clients’ accounts had received millions of dollars in profits over many years
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 represented the investors as co-counsel with the Receiver in a class action against the accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme. After removal from state to Federal court and several years of litigation, the lawsuit was resolved in 2017 through mediation and the payment of more than $4.3 million to the receivership for the investors benefit by the law and accounting firms.
Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $170 Million On Behalf of His Clients
Over the past two decades, Robert Pearce has successfully recovered more than $170 million for his investor clients. Remarkably, he has secured funds for over 99% of his clients, utilizing various methods such as settlements, arbitrations, and court litigations to achieve these results.
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?
Typically, the first consultation with a securities attorney is offered at no charge. During this meeting, the attorney will evaluate your case and provide an estimate of the legal fees involved. If you choose to proceed, you will likely be asked to sign a contingency fee agreement. This agreement stipulates that you only pay the attorney if they successfully recover funds for you. If the attorney does not achieve a successful outcome, you will not be liable for any legal fees.
What Are the Statute of Limitations?
When dealing with investment fraud cases, it is crucial to act quickly due to the statutes of limitations set by both West Virginia and federal laws. In West Virginia, you generally have two years to file a fraud claim. On the federal level, the deadline for filing securities fraud cases is typically either five years from the date of the violation or two years from when the fraud should have been discovered, whichever comes later. Consulting with an attorney promptly can help ensure that your claim is filed within these legal 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:
Contact a West Virginia 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. West Virginia 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 West Virginia securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with West Virginia clients in Charleston, Huntington, Morgantown, Parkersburg, Wheeling, Weirton, Martinsburg, Fairmont, Beckley, Clarksburg, 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.
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $8,214,596
In a FINRA arbitration that our firm resolved, investors alleged that their financial advisor, affiliated with a major investment bank, misrepresented and failed to fully disclose the risks of a highly leveraged credit spread strategy. Furthermore, the clients claimed that the advisor inappropriately placed all of their assets into this unsuitable investment strategy. In March 2020, the account was overleveraged, leading to extensive liquidations of securities at significantly reduced prices to satisfy margin calls. The case was settled for over $8.2 million a day before the arbitration hearing was scheduled for 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 for $6 million even though the broker-dealers claimed the clients’ accounts had received millions of dollars in profits over many years
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 represented the investors as co-counsel with the Receiver in a class action against the accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme. After removal from state to Federal court and several years of litigation, the lawsuit was resolved in 2017 through mediation and the payment of more than $4.3 million to the receivership for the investors benefit by the law and accounting firms.
Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $170 Million On Behalf of His Clients
Over the past two decades, Robert Pearce has successfully recovered more than $170 million for his investor clients. Remarkably, he has secured funds for over 99% of his clients, utilizing various methods such as settlements, arbitrations, and court litigations to achieve these results.
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?
Typically, the first consultation with a securities attorney is offered at no charge. During this meeting, the attorney will evaluate your case and provide an estimate of the legal fees involved. If you choose to proceed, you will likely be asked to sign a contingency fee agreement. This agreement stipulates that you only pay the attorney if they successfully recover funds for you. If the attorney does not achieve a successful outcome, you will not be liable for any legal fees.
What Are the Statute of Limitations?
When dealing with investment fraud cases, it is crucial to act quickly due to the statutes of limitations set by both West Virginia and federal laws. In West Virginia, you generally have two years to file a fraud claim. On the federal level, the deadline for filing securities fraud cases is typically either five years from the date of the violation or two years from when the fraud should have been discovered, whichever comes later. Consulting with an attorney promptly can help ensure that your claim is filed within these legal 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:
Contact a West Virginia 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. West Virginia 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 West Virginia securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with West Virginia clients in Charleston, Huntington, Morgantown, Parkersburg, Wheeling, Weirton, Martinsburg, Fairmont, Beckley, Clarksburg, 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.