Florida Money Manager Hits the News

Posted On: November 11, 2010 by Law Offices of Ralph Behr

It's never too late to start all over... That's the good news for Florida residents because a 77year-old Florida resident was sentenced to 14 years in federal prison for allegedly cheating investors out of more than $168 million. Our near-octogenarian was also ordered to forfeit $162 million to compensate the victims of his fraud. The fraudster allegedly raised money from investors by claiming he was a successful attorney and trader. His greatest success was scheming and stealing….which he was very skillful at. Most of his victims knew him well and in fact trusted him, which is quite often the case in these situations. Being alert to fraudsters means asking the right questions of the right people. In an abundance of caution it is often a good idea to consult a securities fraud lawyer before entering into a major financial transaction which could put your assets at risk. Hindsight is not insight. Seeing ahead, around corners, is what experience means: your South Florida securities fraud lawyer on a daily basis lives and breathes among the work of these fraudsters. Especially in Florida, where we've seen these things again and again. If you have a question about a financial transaction, or you're concerned that your financial advisor may be acting in his interest ahead of yours, call for a free consultation. It's always better to have a story about the near miss them to try to recover from a total loss.