Ponzi Scheme Recovery Attorneys

Have you ever fallen victim to a Ponzi scheme and found yourself wondering if there is any hope for recovery?
Recovering from a Ponzi scheme can be a challenging and emotional journey, but with the right support and resources, it is possible to mitigate the financial losses incurred. Call The Good Law Group: (847) 577-4476.
We focus on Ponzi scheme fraud lawsuits in Illinois and across the country.

We are committed to maximize the recovery of losses from Ponzi schemes for the victims. Our experienced investment loss attorney will investigate and pursue the fraudsters responsible for your losses.

Ponzi schemes are typically thought of as big scandals that are not likely to affect the average investor.  However, average investors can easily become victims of a Ponzi scheme when presented with an investment opportunity that promises large returns with little risk.

As the schemers get more people to invest, the investments are used to pay off the first investors, which motivates them to invest even more money since they believe they are getting a legitimate return.  In reality, none of the money is being invested and the ones running the scheme are pocketing most of the money.  Eventually, the schemers stop getting new investors and people who invested stop getting returns, causing the scheme to collapse.  People who have gotten caught up in Ponzi schemes have lost thousands, and in some cases, millions of dollars.

If you are the victim of a Ponzi scheme, our Ponzi scheme lawyers at The Good Law Group can help you recover your losses.  Our attorneys are experienced in Ponzi scheme recovery cases and can help you file a lawsuit to recover your losses from those who ran the scheme.  As experts in business litigation, we can hold firms, organizations, and individuals accountable for defrauding investors.

We are based in the Chicago, IL area and are ready to help those who have fallen victim to a Ponzi scheme nationwide.

What is a Ponzi Scheme?

A Ponzi scheme is defined by the U.S. Securities and Exchange Commission as investment fraud in which investments collected from new investors are used to pay existing investors.  Investors are drawn in with promises of high returns with little risk and as the scheme attracts more investors, the money from new investors is used to pay off the initial investors to make them believe they are getting legitimate returns.  Those who run Ponzi schemes promise to invest the money they receive, but they instead pay out just enough to keep investors involved and pocket much of the money for themselves.

These schemes can only survive if the schemers get a constant flow of cash to pay existing investors.  Ponzi schemes typically collapse when there are not enough new investors to pay off the initial investors, or when too many investors try to withdraw their money and the fraudster does not have enough funds to cash them out.

The following are the main signs of a Ponzi scheme:

• Big returns and no risk: Ponzi schemes lure investors by promising large returns, with virtually no risk. The Financial Industry Regulatory Authority (FINRA) requires stockbrokers and financial advisors to disclose the risks when promising returns beyond 12%.  If investors are promised returns that exceed 12% without any discussion of increased risks, they are likely dealing with a Ponzi scheme.
• Consistent returns: It is natural for returns on investments to fluctuate based on the economy and market conditions. Getting consistent returns regardless of these conditions is a sign of a Ponzi scheme.
• Unregistered investments: Investments are supposed to be registered with the Securities and Exchange Commission. With Ponzi schemes, the investments are not registered.
• Secrecy: Those who run Ponzi schemes never discuss any details about their investment strategies. Investors have a right to know how their money is being invested.
• Unlicensed firms and sellers: Investment professionals and firms are required to be licensed and approved by regulators according to federal and state securities laws. Firms and sellers that run Ponzi schemes are typically not licensed.
• Paperwork issues: The Securities and Exchange Act of 1934 requires confirmation and regular statements to be sent to those who have invested money. Investors who do not receive confirmation or statements should be suspicious.
• Difficulty cashing out: Those who run Ponzi schemes will try to prevent investors from cashing out and will even offer higher returns to prevent this.

What to Do If You are in a Ponzi Scheme

If you are suspicious that you may be the victim of a Ponzi scheme, do not let those running the scheme know that you are suspicious. Instead, take the following steps to help build a case against the fraudsters:

• Gather evidence: Collect information about the fraudsters, including their name, address, phone number, email address, website, and any other information you can get. You should also save every email, letter, and other communications they send you.
• Record phone calls: Record every phone call with them as they may implicate themselves in the scheme with what they say in your conversations. Save these recordings with the rest of the evidence you gather.
• File a police report: File a police report so that law enforcement knows that a crime has taken place and that you are the victim of the crime. Keep a copy of the police report with the rest of the evidence you have gathered.
• Know your rights: It is important to understand your rights as a victim of financial fraud.
• Contact our Ponzi scheme fraud attorneys: Our attorneys at The Good Law Group can help you recover your losses from the Ponzi scheme.

Ponzi Scheme Recovery with The Good Law Group

If you have suffered financial losses due to becoming the victim of a Ponzi scheme, our investment loss attorneys at The Good Law Group can help.  We will review your case to collect evidence and help you file a lawsuit to hold the fraudsters accountable and get your money back.  Ponzi schemes are crimes that are tried in criminal court, but victims also have the right to sue for losses to recover their money.

Our experienced Ponzi scheme attorneys know how to fight for you to ensure that you are fully compensated for your losses.  You will not pay any out-of-pocket costs or fees unless we are successful in recovering your money.

If you are victim of a Ponzi scheme, call the The Good Law Group at (847) 577-4476 to speak to a Ponzi schemes fraud lawyer and get help with your case.

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