The past five years have seen an increase of cases involving the theft of monies from investment accounts. Most notably, the Bernard Madoff case involved a theft of over 20 billion dollars from unsuspecting investors. While the rights of theft victims seeking the recovery of their monies under the civil laws are clear, many victimized investors are lulled into a false sense of security, believing that a pending criminal prosecution will result in a return of their monies.
While criminal prosecutions may include restitution orders, these are a very poor substitute to aggressively pursuing your own civil remedies in civil proceedings (as opposed to criminal proceedings) against the banks, brokerage firms, insurance companies, and owners of businesses who employ criminals and embezzlers and fail to properly supervise and detect their wrongdoing.
The mistake many victims of theft schemes make is to sit back and wait for the conclusion of pending criminal proceedings, only to find out that the civil statutes of limitations applicable to their claims against an embezzler’s employers have expired.
If you feel you have been the victim of a theft scheme, we offer a free initial consultation.