Securities Fraud Lawyers Blog

Tampa Chapter 7 Lawyer Dispels 3 Common Myths About Bankruptcy

Published on: November 20, 2015 | by Savage Villoch Law, PLLC

Financial setbacks are among the most difficult challenges people face. If you are considering bankruptcy, you may be struggling with anxiety, confusion, guilt, and even depression. However, with competent legal guidance, the bankruptcy process can go smoothly, and you can regain financial security.

Unfortunately, misconceptions about bankruptcy run rampant, and they may be increasing your confusion and anxiety. The first step to getting your life back on track is getting the facts.

Three of the Most Common Myths About Bankruptcy:

Stock fraud lawyer warns: retirees and snowbirds often targeted by securities fraudsters

Published on: November 13, 2015 | by Savage Villoch Law, PLLC

For many retirees, the idea of spending their leisure years in Florida is a goal for which they have striven for many years. According to U.S. News & World Report’s analysis of 2010 U.S. Census Bureau data, the “Sunshine State” has the greatest proportion of people who are at least 65 (17.3%). And that doesn’t necessarily include “snowbirds” who might spend a considerable amount of the winter months in Florida away from their normal array of trusted advisers such as lawyers, investment advisers and other financial professionals who remain behind in the snow.

Whether they are new residents or snowbirds, and like many other Americans, some of Florida’s newest senior citizens probably are hoping to make some new investments to help them recover ground lost during the difficult economic times of the last five years, and that makes them extra-vulnerable to securities fraud schemes targeting the elderly. One such scheme involving the stock of two companies, Miami Beach-based Thought Development Inc. and Virgin Gaming, just resulted in two Boca Raton men being among eight defendants being charged in federal court with conspiracy to commit federal mail and wire fraud.

PalmBeachCoast.com recently reported that Wifredo A. Ferrer, U.S. Attorney for the Southern District of Florida, and George L. Piro, Special Agent in charge of the FBI’s Miami field office are prosecuting the Boca Raton pair on charges based on what Ferrer described as “exorbitant, undisclosed commissions” and misrepresentation of the technology involved, which allegedly projected a green laser line on a football field visible in the stadium to players and fans as well as to television viewers. Ferrer and Piro also took the position that the promoters also failed to mention a pretty significant defect, which was that use of the technology posed a risk of blindness to the players.

Florida Investment Fraud Attorney On Ponzi and Pyramid Schemes

Published on: November 6, 2015 | by Savage Villoch Law, PLLC

Some people in Florida and other states try to scam others out of their money instead of making an honest income. Two tricks these con artists use are called Ponzi and pyramid schemes. Knowing how these methods of deception work can help you protect your money, but a Florida investment fraud attorney could help if you have already fallen victim to one of these schemes.

Ponzi Scheme

In a Ponzi scheme, someone lures others in by telling them about a supposed investment opportunity with little risk that yields a high reward. This sounds too good to be true because it is as these schemes are funded by paying existing investors with the money from new investors. This scam looks like it works because the earlier investors get paid, but the revenue dries up if there are no new investors or too many investors want to collect their money at the same time.

A Florida Investment Fraud Attorney Can Help If You Have Been the Victim of a Pump and Dump Scheme

Published on: October 30, 2015 | by Savage Villoch Law, PLLC

A pump and dump scheme is a form of investment fraud where people artificially inflate the price of stock they own, and once it has reached a certain price they will sell it before the price goes down again. The perpetrators of such a scheme raise the stock price by creating synthetic hype around the stock. At one time this was normally done by cold calling. An individual claiming to be an expert stockbroker might randomly call people to inform them of a stock that was virtually guaranteed to go up, and that failing to invest in it would mean missing out on perhaps thousands of dollars. One variant of cold calls would be to leave a message on somebody’s answering machine or voice mail. The message is worded in such a manner that the victim believes the caller had reached the wrong number, and now has access to valuable inside information which must be acted on very quickly.
These days such fraud is more often committed online. The Internet allows for far more potential victims to be reached, over a shorter period of time. Messages might be posted on bulletin boards advising visitors to purchase the next hot stock. If enough people take the bait, the stock price will go up. Later posts might point out that the price of the stock in question has, in fact, become more expensive, which leads to even more shares being sold.
At some point the perpetrators of the scheme will sell, or dump, all of the shares. This is generally done when they are satisfied with the profits that will result. When a large number of shares are dumped the stock price plummets, usually to a price that is less than what the victims of the scheme paid, resulting in monetary losses for them. Pump and dump schemes generally target micro- and small-cap stocks, because they are most easily manipulated. These stocks do not have a great number of shares being traded, and therefore their price can be influenced by a smaller number of trades. If you have been the victim of a pump and dump scheme, please contact us today to discuss your options.

Do you need a Florida stock fraud lawyer? Contact us today!

Published on: October 23, 2015 | by Savage Villoch Law, PLLC

The Savage Law Firm is pleased to serve the Tampa area, especially for those residents who are in need of a Florida stock fraud lawyer.

How do you know if you need a Florida stock fraud attorney? Here’s some things you need to consider:

Has your stock portfolio decreased, significantly, due to negligence or incompetence from your stock adviser? If so, you are protected by both state and federal laws against this sort of thing. As the victim of a predatory adviser, you have the right to seek restitution if your adviser is proven to be negligent, unsuitable, fraudulent, and/or illegal in his/her dealings.

Chapter 7 Attorney in Tampa Talks About 50 Cent Case

Published on: October 16, 2015 | by Savage Villoch Law, PLLC

Despite recent appearances in TV and film, rapper 50 Cent filed for bankruptcy on July 13. Many individuals file for chapter 7 or chapter 11 bankruptcy protection, and choosing which type of bankruptcy to file for is an important decision. When considering bankruptcy, a chapter 11 or chapter 7 attorney in Tampa might be able to advise you.

Bankruptcy Filings

50 Cent filed for chapter 11, and court documents indicated that he has a large amount of consumer debt that may total as much as $50 million. The entertainer’s boxing company called SMS promotions also filed for bankruptcy under chapter 11. The financial trouble 50 Cent faces was likely exacerbated by a July 10 jury verdict that ordered the rapper to pay $5 million in damages to Lastonia Leviston. She sued after 50 Cent made a video mocking a sex tape featuring her, and she believes the video was posted to embarrass rapper Rick Ross as Leviston and him have a child together.

Using FINRA Arbitration-A Florida Stock Market Attorney Can Help

Published on: October 9, 2015 | by Savage Villoch Law, PLLC

Have you lost money due to the careless mistakes or intentional fraud of a stockbroker or other financial adviser? Using FINRA arbitration, we may be able to recover your loss. An FINRA claim is made on investment deals with stocks, annuities, mutual funds and bonds. Using a Florida stock market attorney, you can see justice for your wrongdoing.

If you have a claim against a financial advisor or stockbroker, they are required to go to arbitration before FINRA. Rather than a long drawn out court hearing, the Financial Industry Regulatory handles the session. There will be 1-3 arbitrators at the hearing, and a decision will also be made at that time. The wait for a hearing takes about a year. It depends on the size of the claim as to how many arbitrators will be assigned. More than 60% of all cases are settled, and there’s no need for a hearing.

These circumstances are difficult, and there is much paperwork. An investment fraud attorney can help with the FINRA arbitration case and get your money back. What are the most common types of investment fraud, they are:

Get Your Money Back With A Florida Investment Fraud Attorney

Published on: October 2, 2015 | by Savage Villoch Law, PLLC

Saving for retirement is a sacrifice. Entrusting a securities firm to manage your money is a leap of faith. You expect nothing less than candid, professional and precise information regarding your investments. Sometimes, dishonest stockbrokers and savings advisers take advantage of an investor’s vulnerable position. Due to the dishonesty of others, you could be facing the loss of a large amount of money. Fraud may be from bad investment advice, a conflict of interest, or other misfortune. When your retirement income is gone due to fraud, you need help getting back your life’s savings and making sure the guilty parties get their day in court.
Broker misconduct and investment fraud can take place in many ways. Perhaps you’re a victim of excessive trading, breach of fiduciary duties, bond fraud, falsifications or errors, illegal trading, general misconduct or Ponzi schemes. Beware, as fraudsters come in all shape and sizes. These individuals are often respected in the community and appear well-educated.
As a Florida investment fraud attorney, we’re dedicated to representing you against the fraudulent handling of your money. Regardless of what has occurred, we can help you recover your loss. We will examine the information and see if you have a case. Don’t think that you have to take this loss; you have a right to fight for your money. Call today to schedule a consultation and see how our service team can help you. It’s a sad situation; but a legal adviser can be a source of support and give you the answers you need to hear. Don’t get mad, get even by taking them to court!

Why You Need A Chapter 7 Attorney In Tampa

Published on: September 25, 2015 | by Savage Villoch Law, PLLC

With the new laws that are in effect, it’s very confusing to file a Chapter 7 bankruptcy. You need an attorney to help you. Qualifying for a Chapter 7 is not easy anymore. The new restraints make it difficult and many have to file a Chapter 13 and repay their debts. However, a bankruptcy attorney can help you decide which chapter you qualify for.

Before you file your petition, the attorney needs to know all the transactions of the past 60 days. The court wants to know about any cash loans or any expensive items that you’ve purchased. They consider residency requirements, and you must attend credit counseling. It’s a lot to take in and it’s overwhelming to the average person. That’s why it’s so important to have a bankruptcy attorney handling the matter.

A Chapter 7 attorney in Florida can help you complete the “means test” and see if you qualify for this chapter. When you met the qualifications, the attorney files the petition, and the court appoints a trustee. You don’t lose everything; the court allows you some as exempt. The court sells non-exempt property. Debts like student loans, tax bills and any bill accumulated through fraudulent means are not discharged through bankruptcy.

Tax Debt Relief in Bankruptcy: Plan Before You File

Published on: September 18, 2015 | by Savage Villoch Law, PLLC

You may have heard that taxes are not discharged in bankruptcy. Tax debt, as “priority” debt, gets paid first before other creditors in bankruptcy. However, the Bankruptcy Code includes exceptions depending on the type and timing of the tax, and the bankruptcy chapter filed.Before knowing which taxes qualify for discharge, however, you must first understand which do not qualify under bankruptcy law. There are 7 types of taxes you cannot avoid paying:

Taxes on a past due return not filed within three years (plus extensions) before filing bankruptcy.
Taxes assessed within 240 days before filing bankruptcy.