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I am a victim of investment fraud that the FBI and SEC are currently investigating. in addition do I need a lawyer? Please help.
Savage, MN
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Posted about 1 month ago in Securities / Investment Fraud
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My mother lost her entire nest egg in a fraudulent investment scheme that the FBI and SEC are currently investigating. We don't know what to do. Can we rely on the FBI and SEC to disperse recovered funds evenly should they find any or do we need to join a current law suit? If we don't join the lawsuit and those lawyers uncover funds, will they have the rights to those funds for their clients only or will the SEC take control and ensure that all funds are distributed evenly and fairly to all investors who lost? No criminal charges have been filed yet by the SEC because it is still under investigation. I called the SEC and they wouldn't give me any advice or info. I want to ensure that my mother is included in any disbursement of funds that are found. Please help.
Answers (2)
Albert R. Hausauer Jr
This attorney is licensed in Minnesota and 3 other states.
Posted 25 days ago.
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The FBI, SEC or any other government agency cannot be counted on to recover your money. A claim for recovery of investor losses might be part of a government proceeding; it will not be the primary focus.
It's possible that the money has disappeared or is in the hands of someone the government is not pursuing. Your mother’s share of any recovery by the government will likely be in the proportion her losses have to all investor losses. Her share from the current private litigation could range from some prorated share, if it’s a class action, to nothing, if she is not a party to the action. You might want to discuss your options with an experienced attorney; it might be in your best interest to pursue your own lawsuit or arbitration. Disclaimer: This answer is incomplete and is for informational purposes only; it discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney client relationship. 
Jonathan H Levy
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