Unless you are a security fraud lawyer or a probate litigation attorney, then chances are you know very little about dealing with security fraud and financial court cases. However, these types of legal scenarios have become incredibly common since the 2000’s. Just recently the FBI revealed that in the year of 2009 there were over 1,5000 pending securities and commodities fraud cases that took place. Here are all of the facts on litigation attorneys and the securities fraud attorney.
A pyramid scheme is a common form of fraud that litigation attorneys will have to work with. When people are hired to these pyramid schemes it means that they become a recruiter and must invest in the company. From there, they will then have to recruit more people and get more people to invest in the company, but all of the money goes just to the top.
A famous court case that involves some of the top tier litigation attorneys is the Bernard Madoff case. This situation involves Bernard who was once a famous investment manager that had a great career on Wall Street and a one point worked as the chairman of the NASDAQ stock exchange as well. Madoff was implicated in a huge Ponzi scheme and Madoff’s victims lost nearly $20 million and he is now in prison for 150 years.
Litigation attorneys are incredibly important for people int he United States that need protection from fraudulent schemes.
There are some frauds that are known as stock fraud and investment fraud. These processes involve the deceitful practice of making investors purchase items or decide on sales based on false information which eventually leads to the violation of security laws and losses of money. In the year of 2014, there were over 1,600 securities and commodities frauds that took place.
2014 was a busy year for litigation attorneys across the nation. In this year there was 633 corporate fraud pending cases and there were also the previously mentioned 1,600 securities and commodities fraud cases. These are all courtroom scenarios that will require experienced litigation attorneys to protect the common man or common woman.
In 2014, the SEC filed new additional charges against the Bank of America as part of a global settlement in which Bank of America admits that it failed to inform investors during the financial crisis about known uncertainties to future income from its exposure to repurchase claims on mortgage loans. The bank agreed to pay a $20 million penalty.
The SEC had another serious court case in the year of 2014 that dealt with Morgan Stanley’s firm entities. The SEC charged three of Morgan Stanley’s firm entities with misleading investors about the delinquency status of mortgage loans underlying two subprime residential mortgage-backed securities securitizations that the firms underwrote, sponsored, and issued. Morgan Stanley agreed to settle the charges by paying $275 million to be returned to harmed investors.
In Conclusion
Even though you may not know a lot about dealing with litigation attorneys that do not mean they do not do an important job. They are absolutely essential in terms of protecting the common man or common woman from large banks that could do them serious harm while not suffering any consequences. Banks and large corporations have a lot of power and thus it easy for them to mistreat the common person without any ramifications, that is why the jobs of litigation attorneys are essential.
