Over the last two decades there have been a number of Ponzi schemes that have made headlines. While most people have heard about the Bernie Madoff Ponzi Scheme there was also the Allen Stanford Ponzi Scheme and the Joseph Forte Ponzi Scheme. With billions of dollars being lost in these Ponzi Schemes, are there lawyers that focus only on Ponzi Schemes and getting money back?
There are absolutely lawyers and law firms that have a great deal of experience when it comes to Ponzi Schemes and financial services. It is very important to remember that law firms can only practice law in the state in which they have a legal license. If you live in New York and your lawyer is in Miami or Houston there is a good chance you are going to have to find a New York lawyer to help you get your money back that you lost in a Ponzi Scheme.
Also note that most law firms that are just starting out are willing to take on any type of case. They take on everything from a DUI/DWI to a divorce. These types of law firms often do not have the time, money, experience or resources to help recover your financial losses. Do not think a small, one man shop law office can assist you with this service. It will take an experienced lawyer that has worked on cases such as the Bernie Madoff case to help you recover the maximum compensation that you lost. Keep this in mind before hiring a small town lawyer that does not have a great deal of experience.
If you are looking for a Ponzi Scheme Lawyer in New York City, Los Angeles, Houston or Miami, there are likely one or two firms that will be willing to focus on your case specifically. Some may seek a class action lawsuit as Ponzi Schemes are always comprised of hundreds of people putting their money into a “fund” or “investment”. It is not a process in which you can get your money back overnight. Litigation takes time and it may take two or three years for you to recover the money you lost. That said, that is better than never getting your money back at all.