According to the US Securities and Exchange Commission, there have been a total of 160 cases involving fraud in investment companies and 98 cases regarding fraud involving investment advisers. Investment frauds are very common anywhere you go because there will always be a malicious crook looking to make a quick buck from a person who needs money. If you happen to have fallen victim, don’t fear because there are ways you can recover your losses. Here are a few ways on how to do that:
- Get an Attorney
The first step to helping you recover your losses is to simply get yourself a good investor defense law attorney. Those who raise investment fraud schemes are often knowledgeable of the state and federal laws regarding investments. Otherwise, they wouldn’t be so confident to pull off a fraud. This is why you’ll need the help of a good lawyer so that he or she can fight the case for you.
- Get All Your Paperwork
Even after you get an attorney, the attorney still needs your help to build the case. For this, you need all the evidence you can get to prove that you’ve been a victim of fraud. For this, you’ll need paperwork such as monthly and annual statements, financial agreements, contracts, and document terms. If you have these documents, you will have acknowledgment receipts and other similar written acknowledgments.
- Check Transaction Confirmations
Transaction confirmations do not only include paperwork and transaction slips. Most of the time, Online platforms can track investments. If you’re transacting online, always make sure that you have a copy of the transaction confirmation, which is usually an email or an acknowledgment in the website.
- Get All Your Bank Deposit Slips
Usually, fraud schemes involve having you deposit money into a bank account wherein the fund managers will put it in investment mediums. Collect all of your bank deposit slips so you can track your expenses. If you gave cash up front, don’t forget to always have some sort of invoice so there is a trail.
- Check for Government Registration
A legit investment company comes with the SEC and the tax bureau. More often than not, scams don’t come with registration so you can use that to build a case.
- Collect Other Documents That Can Be Used as Evidence
You can use emails, letters, notes, text messages, and even chats as evidence in your case. Collect all of your past documented communications with the accused party and provide it to your lawyer. Take screenshots of all these conversations. Make sure to secure the date in the images. Also be sure that the date is included in the picture. You can use just about any evidence in court.
After gathering all evidence, you and your lawyer can already file a case against the fraudulent party. Take note that a case can’t be made easily. There are certain legal procedures that your lawyer will have to do on behalf of you before the case reaches the court. Once all the procedures and filing has been done, you may file against the accused party.