The ruthless rise of investment fraud brings financial devastation to individuals that fall victim to the scams.  Forex investment is a prominent vehicle in financial fraud scams well known for drawing in novice investors.  Fraudulent brokers that are challenged for financial restitution for their losses by their victims are known to pay out small sums in recompense on the condition that the recipient signs a settlement agreement aimed at preventing further claims.

Giambrone & Partners' banking and financial fraud team has successfully tackled an overseas unregulated investment broker and after a persistent campaign waged on behalf of our client, a significantly enhanced financial offer was made to our client, notwithstanding the previously signed settlement agreement.  Our lawyers' skilled negotiating coupled with their legal skills enabled our client to obtain considerably more of their lost funds.

Joanna Bailey, an associate, pointed out "unregulated investment brokers are well aware that their methods and practices could be regarded as fraudulent and despite their best efforts to unnerve their former clients and create the impression that the often small amount of money restored under a settlement agreement is in full and final settlement, in actual fact, they are frequently prepared to pay considerably more to avoid the scrutiny of the courts."

Giambrone & Partners' banking and financial fraud team has had considerable success in wrenching lost funds from the hands of the fraudsters on behalf of our clients, who frequently are left with the belief that there is nothing they can do to retrieve the money that has been deceptively taken from them through the guise of legitimate trading.  Investors who have been compelled to sign a settlement agreement by the investment broker should not think that they are in a situation where nothing more can be done.  In such circumstances, the settlement agreement can and should be waived and an improved offer should be forthcoming.  The lawyers in Giambrone & Partners' banking and financial fraud team have an excellent record of recovery in similar situations, so be assured that the possibility of further financial recovery is available.

Our lawyers emphasize the need to establish the regulatory status of any investment broker that you propose to work with. The Financial Conduct Authority (FCA) provides information on fraudulent investment brokers that they have identified as unregulated and highlights the fact that they may pose a risk to investors.  There are also alerts on brokers that the FCA feel may have the potential be a risk.   

Demetri Bezaintes, legal executive, commented "all novice investors should be aware that they are protected by regulations governing brokers that oblige the brokers to qualify a new client to establish whether they are inexperienced or experienced investors." He further commented, "legitimate professional investment brokers are not permitted to assist novice investors to deal in complex products about which their potential client has no knowledge or experience."

If you are would like to invest in the financial markets but are inexperienced without an understanding of the complexities of the markets, to limit your risk you should undertake extensive due diligence on the organisation that you intend to trade through. Do not rely on the professional appearance of a website that claims to be based in the UK and purports to be properly regulated, check with the FCA or the regulatory authority the broker alleges they are regulated under. Establishing as much independent information about the broker will enable you to avoid being pushed into a risky trade by fraudsters.

Also, establish the company is actually based in the country in which it claims to be through Companies House or a similar registry of companies, financial fraudsters frequently claim to be based in the UK or another "safe" country whereas they are actually based in a country out of the range of the UK's financial authorities or as well as being out of legal reach.  Establishing as much independent information about the broker will enable you to avoid being pushed into a risky trade by fraudsters.

Joanna Bailey heads the banking and financial fraud team she advises international and UK-based clients in a range of financial disputes.  Joanna is highly regarded for her meticulous approach and her persistence when investigating international fraud. Her considerable experience and dogged pursuit frequently leads to the successful recovery of funds for clients.

Demetri Bezaintes works with Joanna and has a thorough knowledge of investment fraud and fund tracing. He works tenaciously for our clients, advising on forex and cryptocurrency trading disputes and regulatory investigation