Identification of Financial Instrument Fraud and Victim Help

“Financial fraud thrives.  The global economy offers fertile ground for money laundering and other forms of financial crime. New tricks are constantly being used to deprive the unwary of their money, each more ingenious than the last. Carrying out fraud has never been easier, or cheaper, as internet users who are bombarded with phony financial offers can testify.

The very pervasiveness of financial fraud hits that the mutual trust upon which business depends, while for the victims, whatever their resources, it can mean ruin.  Yet, provided the financial services community and individual investors are alert to the dangerous signals, fraud can be detected with relative ease and personal and corporate tragedies avoided.”

— Maria Livanosgattaui, Secretary General
International Chamber of Commerce

Preventing Financial Instrument Fraud

Identifying fact from fiction, the genuine from the fake, is what we do should we be asked to review an investment transaction where financial instrument fraud is suspected or a concern. Financial instruments, such as letters of credit, stand-by letters of credit, bank guarantees, certificates of deposit, securities, and any form of investment, trade, or asset management program involving such instruments. In such cases, we will assist our client into performing necessary due diligence in an effort to separate a genuine and legal investment opportunity from a fraudulent or money laundering scheme. We will review all documents and agreed as requested. The best was to avoid becoming a victim of financial instrument fraud is to detect fraud before releasing money or control of your assets.

Recovering Money Lost to the Criminals

Recovering money lost to financial instrument fraud, whether it be to a ponzi scheme or a fraudulent use and manipulation of the banking system, recovery of some or all of the defrauded funds may be difficult, but not impossible

Notify the Authorities

If you suspect that you have been victimized by financial instrument fraud, you should report it to the IRS Criminal Division. If a criminal is successfully prosecuted, in addition to imposing a fine and putting the criminal in prison, successful prosecution will result in an order for restitution. Whether or not restitution will be made depends on the available and identifiable resources of the criminal. We are not aware of any situation where victims of financial instrument fraud were fully compensated for their financial loss after a successful prosecution.

Civil Litigation

Either alone or simultaneously with criminal court proceedings, the attorneys at Jorden & White Law Firm track down fraudsters and recover the lost and defrauded funds through investigation and the legal litigation process. By means of the litigation process and discovery tools, we can often follow the money trail and hold accountable those individuals or entities directly or indirectly connected to the fraud.

Attorney’s Fees and Costs

As explained elsewhere on our website, when we agree to represent individuals in matters of personal injury litigation, we do so on a contingent fee basis (i.e. legal fees are contingent upon and paid out of the dollar amount recovered). For business and financial reasons, for cases involving money lost to fraudsters, we do not handle these cases on a contingent fee basis and we do not advance costs. Attorney’s fees are based on a flat fee paid in advance or subject to hourly charged paid monthly, depending on the nature and circumstances of the case. A retainer fee is required, which also includes a prepaid amount to cover anticipated costs.

There is no charge for the initial conference (telephone, email, or office). By way of the initial conference, we ascertain what it is that we are being requested to achieve and the nature and circumstances of your case. If, after the initial conference, we decide that your case meets our policy considerations for acceptance, we will arrange to review any relevant documents that you are able to provide us and we will schedule an appointment for the purpose of entering into required retainer and authorization agreements and to begin work on recovering your money and damages. An advanced payment of $500, to be applied toward fees and costs associated with the review of the documents, is required before this meeting to begin work.