As a continuation of An Overview of Securities Fraud (Part 1), the following provides some more information regarding securities fraud and how it can financially devastate investors. While Part 1 of this blog focused on defining what securities fraud is and discussing some specific types of securities fraud, here in Part 2, we will concentrate on highlighting the prevalence of securities fraud and how it can force some investors into filing for bankruptcy.
Prevalence and Cost of Securities Fraud
Securities fraud costs investors in the U.S. between $10 and $40 billion each year, according to research conducted by the Federal Trade Commission and the FBI (both agencies are responsible for investigating securities fraud cases). Additionally, according to the FBI, the number of securities fraud cases it is investigating and prosecuting has been steadily rising since 2005, with the greatest spike to date taking place in 2009 (following the subprime mortgage crisis).
While federal and state authorities are vigilant about tracking down and prosecuting those who commit securities fraud, unfortunately, recovering investors’ money can be far more difficult. This is due to the fact that those who commit securities fraud often devise ways of laundering and concealing invested monies, making it unlikely that defrauded investors ever receive any of their initial investments back. For those who invest a significant amount of money in such securities fraud schemes (like their savings and/or retirement funds), the results can be devastating and, in some cases, can force the defrauded investors to have to file for bankruptcy.
Colorado Bankruptcy Lawyers
If you are overwhelmed by seemingly insurmountable debt and are looking for a financial fresh start, contact the trusted Colorado debt relief and bankruptcy lawyers at the Law Office of Jon B. Clarke, P.C. For more than 35 years, Mr. Clarke and his diligent support staff have been successfully helping our clients resolve even the most complex bankruptcy cases for both individuals and businesses alike. Our experienced legal professionals are committed to providing each of our Clients with the personalized debt relief assistance they need, and we will work tirelessly to ensure that our Clients’ cases are resolved as favorably and efficiently as possible.
For a thorough assessment of your situation, along with expert advice regarding the best manner in which to move forward to unburden yourself from debt, call us at (866) 916-3950 or email us some details about your situation by clicking here.