What happens when a stockbroker or registered
investment advisor steals money or securities from a customer’s account? Does this happen
often? Unfortunately, the theft of customer monies and investments by stockbrokers and registered
investment advisors occurs in less than 1% of all accounts. When theft does happen, getting your
money back may not be easy and it may require a lengthy battle in the courts or in the arbitration
Even the most prestigious brokerage firms, banks and
insurance companies will oftentimes fight theft claims, claiming that they are not responsible for the
criminal acts of their employees. The comprehensive regulatory schemes for stockbrokers,
investment advisors, bankers and insurance companies includes detailed and particularized procedures and
safeguards which must be followed to protect client monies from theft and embezzlement.
Many financial firms are subject to net worth, bonding,
asset protection and insurance related requirements which serve to assure the availability of monies to
compensate victimized customers. However, victimized investors must act fast when indications are
that they have been victimized in order to assure that their claims are brought within the applicable
statute of limitations, as well as assuring they are first in line for recovery of losses before
available financial protection runs out.
We offer a free initial consultation to investors who
feel they have been victimized by a dishonest investment advisor.
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