Whether you are a private consumer, an individual making investments for your future, or a company that relies on the expertise of investment companies, you could become a victim of securities or financial fraud. Securities and financial fraud is a crime, and victims have the right to bring suit against fraudulent bankers, credit card companies, stockbrokers, and other financial institutions. Federal and state laws protect consumers and investors from losing money to those who misrepresent themselves or practice under false pretenses.
Philadelphia insurance fraud lawyers at Axler Goldich LLC work hard to help victims of securities or financial fraud claim justice and recover their investments. Financial misrepresentation and deception is a crime as well as a civil law violation, and those who profit from it can suffer heavy penalties. The experienced and highly skilled lawyers at our firm work diligently to hold those responsible for such crimes to the highest extent of the law.
Securities fraud occurs when investors are manipulated into buying or selling stock by deceptive brokers who intentionally mislead customers for their own gain. The most common types of securities fraud include embezzlement by stockbrokers, stock manipulation, insider trading, falsified financial records of public corporations, and misleading corporate auditors.
Securities fraud became a hot topic at the start of the millennium after multiple high profile cases of corporate fraud emerged. The Securities Exchange Commission (SEC), the Federal Trade Commission (FTC), and the FBI have been working hard to hold corporations and investment firms responsible for unlawful activity. According to the Securities Investor Protection Corporation (SIPC), the estimated cost of investment fraud is $10-40 billion annually in the United States, severely threatening the success of the stock and commodities markets.
There are many fraudulent methods and schemes used to commit securities fraud. Some of the most common methods include:
Financial fraud is a broad term for crimes such as credit card fraud, mortgage fraud, bank fraud, tax evasion, bribery, embezzlement, identity theft, money laundering, forgery, and counterfeiting. As is the case with securities fraud, financial fraud occurs when one person or business entity uses deception in a financial transaction to profit personally. Victims of financial fraud can include individual consumers, corporations, small businesses, and organizations.
One of the most common types of financial fraud involves the unauthorized use of an individual or corporate credit or debit card. With the frequency of online transactions, credit and debit card fraud has been rampant in the United States. Unauthorized use of a credit or debit card, knowingly charging more to the card than is available, and use of a stolen credit card to make purchases all constitute the crime of financial fraud.
Another growing trend in financial crime is insurance fraud. This occurs when someone intentionally deceives an insurance company for their own personal gain. Claiming accidental injuries that are greater than they are, staging accidents to profit personally, or claiming false disability for insurance benefits are all criminal activities.
Financial and securities fraud can devastate the financial health of an individual, family, or business. If you or someone you know has been a victim of this type of crime, Philadelphia securities fraud lawyers at Axler Godich LLC can help.
Call us at 866-207-2920, or complete our online contact form to schedule a consultation today. Our offices are conveniently located in Center City Philadelphia and we serve clients throughout the United States.