by Brian Mahany
“With the FBI focusing its efforts on gathering intelligence and information, and the Securities and Exchange Commission dogged by accusations of failing to go after the pocketbooks of the largest Wall Street offenders, it may be time for the private sector to pick up the sword in the fight to recover assets from financial criminals. ” That was the opening paragraph in David Quinones article written for the International Association for Asset Recovery. Powerful words and unfortunately true. [Ed. Note – Brian Mahany serves on the Board of Advisors of the IAAR.]
Law enforcement in the U.S. is primarily concerned with prosecuting offenders. While getting restitution is always on the minds of prosecutors, putting offenders behind bars is always their main mission.
While cooperating with authorities in fraud investigations may be one’s civic duty, don’t rely on the feds to get back your money. Even if money is recovered, it must often must be shared with all victims asserting claims. Private attorneys, however, work only for their client. Their sole job is to recover your money.
So often I hear tails of people who say they hoped the FBI or IRS or some other agency would get back their money. By the time they call us, it’s often too late. Many states have very short time periods to file claims for fraud. In some states it just 1 year.
Even if the law allows filing a claim, time is rarely on the victim’s side. Fraudsters and Ponzi scheme operators often liquidate their assets to pay for their criminal defense. That’s right, the money they stole from you is being used to keep them out of jail! Often, fraudsters will hide their money. The longer you wait, the harder to find the money.
If you are a victim of a fraud, call an asset recovery lawyer. While many lawyers can get a judgment, fraud recovery lawyers know how to find the money and collect. Many times we are asked by other lawyers to collect judgments when no insurance is available and assets can’t be found.
If you are the victim of a Ponzi scheme or fraud, call us. Investment frauds, stockbroker negligence, phony welfare benefit plans and tax shelters, bank fraud and oil and gas schemes, we can help. Our fraud recovery lawyers have helped people across the U.S.
Mahany & Ertl, LLC – America’s Fraud Lawyers. Offices in Wisconsin, Michigan & Maine. Satellite office in California.