Ponzi Investment Recovery Attorneys | Chicago, IL

Ponzi schemes have been a prevalent form of investment fraud, leaving many innocent victims devastated and financially ruined. The aftermath of a Ponzi scheme can be extremely distressing, but with professional assistance it is possible to minimize the financial losses suffered.
Call The Good Law Group: (312) 629-1212. We have experience in Ponzi scheme recovery lawsuits in Chicago, IL and across the country.

We have the knowledge and resources to conduct comprehensive investigations, identify responsible parties, and pursue legal action to recover assets for our clients. We also offer guidance and support throughout the Ponzi scheme recovery journey, ensuring that the legal process is transparent and that victims are empowered to seek justice.

Ponzi schemes are a common type of financial fraud, and several cases have been highly publicized.  Because people often associate Ponzi schemes with complex, publicized cases, investors may not believe they will ever become the victims of a Ponzi scheme themselves.  However, promises of high returns with little risk are enough to lure investors into the scheme.

Ponzi schemes work by paying off investors with money they get from luring in new investors.  The initial investors believe their payment is a legitimate return which often causes them to invest more.  While the fraudsters promise to invest the money they receive, they instead keep much of the money for themselves while paying out the initial investors just enough to avoid suspicion.  Ponzi schemes eventually collapse when fraudsters fail to attract new investors or cannot pay out their existing investors.  Victims of Ponzi schemes have lost thousands, and even millions of dollars in extreme cases.

If you have lost money in a Ponzi scheme, you can recover your losses with the help of a Ponzi scheme fraud attorney.  The Good Law Group can help those who have fallen victim to a Ponzi scheme in Chicago, IL.  Our Ponzi scheme attorneys have over 30 years of combined experience and can help you file a lawsuit to recover your losses.  We are business litigation experts who can ensure that firms, organizations, and individuals are held accountable for running these schemes.

What are Ponzi Schemes?

The U.S. Securities and Exchange Commission defines a Ponzi scheme as a type of investment fraud in which initial investors are paid using money from new investors.  Fraudsters draw investors into Ponzi schemes by offering high returns with little risk, and the payments they get from the money of new investors fool them into thinking they are getting legitimate returns.  Investors are told by the fraudsters that the money they pay in will be invested, but instead the fraudsters keep much of the money and pay out just enough to initial investors to keep them involved.

Ponzi schemes rely on consistent cash flow so they can continue paying out the initial investors.  These schemes collapse either when they stop attracting new investors or if too many investors try to cash out at once and the fraudsters do not have the funds to cover it.

The following are the biggest red flags of a Ponzi scheme:

• Big returns with no risk: Ponzi schemes attract investors with promises of big returns on their investment with little to no risk, often promising returns that exceed 12%. Stockbrokers and financial advisors are required by the Financial Industry Regulatory Authority (FINRA) to disclose the risks to investors when promising returns that are above 12%. You should be suspicious of any investment opportunity that promises returns this big with no discussion of the risks.
• Consistent returns: Fluctuations in economic and market conditions result in inconsistent returns on investment. If the returns are consistent regardless of economic and market conditions, you may be involved in a Ponzi scheme.
• Unregistered investments: All investments made must be registered with the Securities and Exchange Commission. Investments made in a Ponzi scheme are never registered.
• Secrecy: Investors have a right to know how their money is being invested. Those who run Ponzi schemes refuse to discuss investment strategies because they are not actually investing the money.
• Unlicensed firms and sellers: Federal and state securities laws require firms and investment professionals to be licensed and approved by regulators. Firms that run Ponzi schemes are typically unlicensed.
• Paperwork issues: According to the Securities and Exchange Act of 1934, investors must be sent confirmation of their investments as well as regular statements. Not receiving this paperwork is cause for alarm.
• Difficulty cashing out: Fraudsters do not want investors to cash out and will do almost anything to prevent this, including promising higher returns if they wait to cash out at a later date.

If You are the Victim of a Ponzi Scheme, Follow These Steps

If you have made an investment and believe you may be caught up in a Ponzi scheme, hide your suspicion from the fraudsters.  You can help build a case against them by quietly taking the following steps:

• Collect evidence: Collect as much information as you can about those running the scheme, including names, addresses, email addresses, phone numbers, websites, and more. Save all digital and print communications, including emails and letters.
• Record phone calls: Record your phone conversations with the fraudsters as they may say something that can be used against them. The recordings should be saved with the rest of your gathered evidence.
• File a police report: Running a Ponzi scheme is a crime so make sure you file a police report. This makes law enforcement aware of the crime being committed and that you are a victim of the crime.  A copy of the police report should be kept with the other evidence you collected.
• Know your rights: Look up information from federal and state governments to understand your rights as a victim of financial fraud.
• Contact The Good Law Group: The Ponzi scheme fraud attorneys at The Good Law Group can hold fraudsters accountable and help recover your losses.

Call The Good Law Group – a Chicago Ponzi Scheme Recovery Law Firm

Have you suffered financial losses as a victim of a Ponzi scheme?  Our skilled investment loss attorneys at The Good Law Group are here to help you regain your hard-earned money.  We will thoroughly review your case, gather evidence, and assist you in filing a lawsuit to hold the fraudsters accountable.

Ponzi schemes are serious financial crimes prosecuted in criminal court, but as a victim, you have the right to take legal action to recover your losses.  Our experienced Ponzi scheme attorneys know the ins and outs of the law and are dedicated to fighting for your rights to ensure you receive full compensation.  Best of all, you won’t have to pay any out-of-pocket costs or fees unless we successfully recover your money.

Call The Good Law Group at (312) 629-1212 if you need the help of a Ponzi scheme recovery lawyer in Chicago, IL.