If you lost a lot of money due to investing in a program that was unsuccessful, you could be facing financial difficulties that have changed the way you live your life. You might be struggling financially to the point that you are considering filing for bankruptcy. In addition, you may worry about losing your home or facing other consequences due to debt that has accumulated.
If you are struggling in this way, it is very possible that you have become a victim of securities fraud. It is important that you take the time to verify this by understanding the law and how it applies to your specific situation.
What is securities fraud?
Securities fraud is a broad term for any type of fraud that targets victims by having them make investments. This could be a situation in which a broker advises you into making an investment that they know will not be worthwhile for you, with the intention of making a personal gain.
What are the common signs of securities fraud?
If you suspect that you have become victim to securities fraud, it is important that you note down any of the warning signs you experienced, so that you can successfully prove your case. Common warning signs include experiencing losses even when the market is doing well and experiencing many failed investments that were recommended by your broker. Poor communication from your broker may also be a sign of securities fraud.
It is important that you do not delay taking action if you believe that you have fallen victim to securities fraud in New York.