It can be tough to spot all kinds of fraud, however there are a number of common red flags which may raise feelings for you. You need to speak to a Galvin Legal securities fraud lawyer in case at least one of these problems have been raised, to help you figure out if you have been the victim of investment fraud.
- Your monthly or regular statement is wrong or contains surprises. You should testimonials your invoices shortly after you get them, and analyze them carefully. Be certain that you licensed or have been informed about every trade or trade recorded. In the same way, make sure any transactions you asked actually were completed, and your directions have been followed. Additionally, ensure that every transaction is properly labeled as “solicited,” meaning that your agent recommended it, or “unsolicited,” meaning that you asked it, according to your own evaluation.
- Trading on “insider” advice is prohibited, and therefore don’t get mixed up with a agent that will share such info with you.
- Your agent is there to explain things for you and answer your queries regarding your investments. Should you ask questions rather than receive answers, like your agent dismissing you, not actually explaining or answering the query, or seeking to pass the buck to another person, you need to become suspicious.
- You are contacted with a superior or company of your agent, even within a “pattern” check. Even in the event that you don’t detect anything suspicious by yourself, your suspicions should be aroused in case a superior of your broker or adviser contacts you. They could have discovered that an irregularity which you didn’t. They may say it’s only a regular or benefit telephone, but that is seldom true. Don’t sign anything, nor attempt to defend your agent, but rather contact a investment fraud attorney.
- At a minimum your agent should contact you at least once every year to help ascertain any adjustments in life conditions and possibly “rebalance” your portfolio to satisfy your present needs.
- Your account value drops considerably. There are, regrettably, many non-fraudulent reasons why your account may fall in value, because all investments are to a degree, inherently insecure. Nevertheless, this might become your life’s savings, so in the event that you find a fall of about 25 percent or more you need to contact a securities fraud lawyer in your country to be certain that you’re not the victim of stock broker fraud or malpractice.