Starr Austen & Miller represents victims of fraud and ponzi schemes
An article recently reported by Rachel Graf and Law360 entitled “Asset Management Firm CEO Charged With $16M Fraud”, defines a pattern of conduct that is occurring everywhere. Scott Starr of Starr Austen & Miller within the last five years has represented over 100 victims of similar schemes, wherein a life insurance salesman, a stockbroker, or an investment advisor convinces his clients to purchase promissory notes, LLC membership interests, stocks, or such similar investments for the purported purpose of “investing in real estate” promising high returns, typically in the 10% range. In reality, the fraudster will then use all or a large part of his client’s investments to either support his own business or a lavish lifestyle. If and when a client wants out and needs his money, for a while the fraudster will return the client’s funds (typically with a nice return on the investment), or will sell more investments to use those proceeds to pay back earlier investors.
As described in the article, these schemes never work out and eventually the investors are left holding the bag. If you or a loved one have invested in a similar real estate deal with an insurance salesman, broker or investment advisor, you may be a victim and not yet know it. Contact Starr Austen & Miller for a free no obligation consultation to learn the facts and your rights.
~ Written by Scott L. Starr
The team of investment fraud lawyers at Starr Austen & Miller LLP fights for the protection of investors and handles cases involving securities arbitration misrepresentation, overconcentration, broker fraud, negligence and breach of trust.