Serving Minneapolis, Saint Paul and all of Minnesota.
If you are in need of an investment fraud defense attorney in Minnesota, welcome to Gaskins Bennett Birrell Schupp LLP. Our highly esteemed investment fraud defense lawyers are ready to stand by your side in a time that you need it most. With decades of experience and a history of success behind us, our criminal defense attorneys are ready to help protect your future. If you have been charged with investment fraud in the United States, call us now.
Investment fraud is also known as securities fraud and is typically related to the stock market. Investment fraud is any deception relating to investments that affects a person or company. There are many ways for investment fraud to be implemented, such as:
- Ponzi scheme—this is accomplished by promising high returns to investors, and using other investors’ money to pay previous investors. The money may never actually be invested in anything.
- Promissory notes—short-term notes that typically promise high returns, but are issues by little known or nonexistent companies.
- Fraudulent manipulation of the Stock Market—usually occurs when telemarketers or spammers try to sell an investment as being more profitable than it actually would be.
- “Prime bank” schemes—using the word “prime” to describe a bank will give the investor a false sense of security. These schemes will often proclaim false affiliations with organizations such as the International Chamber of Commerce and International Monetary Fund. Often in this type of scheme, the offender will request the investor to sign papers agreeing not to disclose their identity or any transactions made through the program.
- Internet fraud—using the Internet as a means to gain an investor’s confidence for a fraudulent investment.
- Illegal insider trading—It is legal for corporate insiders to buy and sell shares of their own company, but trading becomes illegal when those same employees trade on information not available to an outsider.
- Wash-trading, match trading—when investors use different brokers or a computer to simultaneously buy and sell shares of the same company to show activity.
- False prospectus— end of fiscal year goals, assets, debts, and financial risks that has been modified to misrepresent the risk of investing in a company.
Penalties for Investment Fraud
Investment fraud is a very serious crime, and being convicted of investment fraud can involve federal prison time and very high fines as well as restitution for money stolen. In many cases, the innocent victims of investment fraud are also financially hurt because any money they were given fraudulently, even without their knowledge of the fraud, can be seized by the government for the investigation. If you are being investigated for investment fraud or believe that you might be, it is important to contact the attorneys at G|B|B|S right away to discuss your legal options. The criminal defense attorneys at G|B|B|S have successfully handled many different matters classified as white collar crimes. Call now to find out how what we can do for you.