Practice Area
Ponzi Scheme Recovery Attorneys
If you lost money in a Ponzi scheme, you may have claims against more than just the schemer. Brokerage firms and individual brokers who sold or recommended the scheme can be held liable — and they have resources to pay.
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Who Can Be Held Liable
Most Ponzi scheme victims focus on the perpetrator — but the perpetrator often has no money left by the time they are caught. The better recovery targets are the brokerage firms, brokers, and financial advisers who sold or recommended the investment without doing proper due diligence.
Brokerage firms have a duty to investigate investments they recommend. When a broker sells a Ponzi scheme product to a client, the firm can be held liable for failing to supervise the broker and failing to conduct adequate due diligence.
In some cases, banks and other institutions that provided services to the Ponzi scheme operator can also be held liable. The Frankowski Firm has the experience to identify all potential defendants and pursue maximum recovery.
FINRA arbitration against the selling broker
If a registered broker sold you the investment, you likely have a FINRA arbitration claim against the broker and their firm for failure to conduct due diligence.
Claims against the brokerage firm
Firms have a duty to supervise their brokers. When a broker sells a Ponzi scheme product, the firm can be held liable for failure to supervise.
Federal receivership participation
When the SEC or DOJ freezes a Ponzi scheme's assets, a Receiver distributes remaining assets to victims. We help you file claims and maximize your recovery.
SIPC claims
If the Ponzi scheme operated through a FINRA member broker-dealer, SIPC insurance may provide up to $500,000 in protection for qualifying losses.
Tax relief — theft loss deduction
Ponzi scheme losses may qualify as theft loss deductions under IRS Rev. Proc. 2009-20. We can refer you to tax counsel experienced in this area.
Lost Money In A Ponzi Scheme?
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888-741-7503