California Ponzi Scheme Attorney
The 2009 conviction of Bernard Madoff on federal securities fraud charges served as a wake-up call to the securities industry. It underscored the dangers Ponzi schemes hold for private and business investors and securities professionals.
When Ponzi schemes are discovered or disintegrated, dominos fall. Investors who fell victim to such schemes may pursue compensation from the brokers, brokerages or other entities that perpetrated the fraud against them. They may also seek compensation, via the claims of a court-appointed receiver, from the early investors ("early Ponzi winners") who either knowingly or unknowingly benefited from their early involvement.
Such claims by federal equity receivers are called "clawback" actions.
I am Jonathan Schwartz, a veteran securities attorney working in Marina del Rey, California. In my more than 30 years as an independent securities attorney, I have successfully tried civil cases on behalf of investors who sought to receive clawback compensation and those who sought to avoid claims against them.
During my extensive career, I have worked as a trial attorney for the U.S. Securities and Exchange Commission (SEC), an attorney advisor for the U.S. Federal Trade Commission (FTC) and a compliance attorney for the Office of Foreign Direct Investment — U.S. Department of Commerce (OFDI).
Let my insider's understanding of securities law work for you. For more information, contact me online at The Law Office of Jonathan Schwartz or call 310-526-8704 or 866-920-6566 toll free.
Los Angeles Clawback Actions Attorney
Determining whether the money you received is safe from a clawback action can be difficult. If SEC officials do not believe there is enough money available to pay back Ponzi investors, they may not appoint a federal receiver.
However, in cases where there is sufficient money to collect, they will appoint a receiver to create a fund for repaying investors. The receiver is the only person who can bring these lawsuits, which may be filed against:
- Early Ponzi investors who may be asked to pay back the money they received
- Investors who withdrew their money before the scheme collapsed
- Companies and individuals who received money from the Ponzi schemers as gifts — even charities
- Sales people who received commissions from the Ponzi scheme and had knowledge or should have known of the Ponzi scheme
- Banks that provided services to the Ponzi scheme and had knowledge or should have known of the illegal activity
- A variety of other persons or entities who may have benefited from the Ponzi scheme, depending on the particular facts of the case
The early Ponzi winners are among the most vulnerable defendants because they received money from the scheme as alleged returns on invested money. Later investors often receive nothing and are usually considered tort creditors.
How Can a Ponzi Scheme Defense Lawyer Help Me?
I have extensive experience negotiating with receivers and the SEC. I am intimately familiar with both federal securities laws and state fraudulent transfer statutes, and I can use this knowledge to your advantage.
Depending on your circumstances, I may be able to defend you by:
- Proving you did not know about the Ponzi scheme when you received a sales commission or otherwise were financed for your services
- Requesting a reduction of the amount of money owed (for instance, if the received funds were spent prior to the action)
- Demonstrating certain sums should remain with the investor and not be surrendered to the receivership (such as collateral from a collateralized loan)
- Determining if the receiver truly intends to sue. (If the receiver represents a large number of investors who made a large profit as a group but not individually, the receiver may not be able to join them all in an action.)
Experienced Representation | Free Consultation | Attorney Jonathan Schwartz
If you are facing legal exposure due to alleged involvement in investment fraud, I can determine if your case is viable. Whether you are considering filing or defending against a clawback action, I have the experience, knowledge and connections to make a positive difference in your case.
For a free consultation with an experienced securities lawyer, contact me online at The Law Office of Jonathan Schwartz or call me at 310-526-8704 or 866-920-6566 toll free.
Spanish translation is available. Servicios de traducciones disponibles.
