Many hundreds of people around the world are targeted each day by disreputable fraudulent brokers.  They deliberate target novice investors in contravention of the trading regulations.  In many cases, the investors who are targeted are completely unfamiliar with the markets and do not recognise that they are dealing with a bogus trading platform.  The fraudulent brokers rely on this lack of knowledge to extract as much money as possible before closing down the account, cutting all contact and disappearing.  The hapless investor then begins to suspect that they have been scammed. 

The targeted individuals have frequently lost considerable sums of money and their beginner status means that they have little idea of where to turn for help.  Often Regulating Bodies are restricted by the terms of their brief and the defrauded investor is sent from pillar to post between the Regulators that are supposed to assist them. Forex and binary options scams often fall outside the remit of their responsibilities as the rules by which the regulatory bodies are bound are often very limited and unless the fraudsters have placed themselves in the regulatory body’s domain (which needless to say the usually do not) there is often little or nothing that can be done by these organisations.  Also quite frequently the fraudsters have developed their frauds and changed their methods since the Regulator was set up and some of the more recent techniques the fraudsters employ are not recognised by the Regulator.

Unfortunately there is no easy answer to recovering lost funds however dogged persistence through myriad inter-connected limited liability companies, often some are registered in different countries, with some dormant and some active, navigating through the convoluted structures that have been deliberately set up to confuse can sometimes result in at least some of the lost funds being returned.   Obviously, this can be a time-consuming activity and frequently the complexity of the situation can result in a considerable amount of time being spent in order to extract the lost funds from the fraudulent broker or eliminate the potential for direct reimbursement from the fraudster.  

Giambrone’s lawyers are very familiar with the fraudsters’ strategies and frequently can steer a course to a resolution through one way or another as there are often other organisations that facilitate, maybe unwittingly, or are actually part of the deception.

The step of last resort, legal action, is understandably daunting for a person who often has lost significant amounts of money in this way.  Giambrone fully recognises that such an experience will leave a victim decidedly risk-averse.  In order to offset the risk, Giambrone has developed strategies to combat the financial risks of litigation.  We will carefully scrutinise the merits of each matter to establish how a legal case, should that be the best course of action, can be managed.

Giambrone has a track record of recovery in relation to financial fraud, with many strategies and tactics to compel the fraudulent broker to restore funds to their former clients.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.