The Brent Seaman Ponzi Scandal: An Exploitation of Trust

What would you think if your entire life’s savings were abused in the name a promising investment. In a shocking incident, a man by the name of Brent Seaman SEC accuses Seaman of defrauding churches in a massive $35 million Ponzi scam. Seaman’s case is a cautionary story that even the seemingly trustworthy people are not immune to fraud. “safe” The following are some examples of how to get started: “guaranteed” Investments require careful examination.

The spouses of Seaman Jana Seaman, as well as entities such as Valo Holdings Group, LLC. Surge Capital Ventures LLC. Allegedly, these parties received a large amount from investor funds. Jana was ordered to pay upwards of $750,000. This includes the original misappropriated sum and interest.

Trusts are Misused

Imagine you’re a retiree and a trusted friend introduces you to an “foolproof” investment opportunity. You believe it to be credible, and you pour your hard-earned money into it. Only to find out that it’s a scam. Investors who put their trust in Seaman experienced exactly this.

George Feurtado is an example. A retired person, George was introduced by his employer to Seaman. real estate agent. Feurtado trusted Seaman invests to ensure his retirement. But alas! This was a fraud scheme.

False promises and the Misuse of Funds

Here’s how: Here’s how:

  • He described these investments as “safe” and promised annual returns between 18 and 48 percent on technology companies, currencies, or commodities. “safe” The following are some examples of how to get started: “guaranteed”.
  • Seaman is accused by the SEC of misrepresenting his success in currency trading, despite losing millions.
  • In order to conceal his losses, he used millions of dollars on personal expenses including luxury cars and private plane flights.
  • His trading did not generate enough profit to cover their monthly payments.

Seaman, his companies and their owners are now facing charges for violations of the Securities Act of 1932 and Securities Exchange Act of 1934. Seaman’s wife, along with two other entities deemed relief defendants, have agreed to pay disgorgement, interest and penalties totaling more than $1.4 million.

Recovering Investment Fraud Losses: The Role Of A Lawyer

Investment fraud is devastating for investors, especially to those planning retirement or who rely on investment income as their main source of income. Did you know that a lawyer who specializes in investment fraud can help you recover your losses?

If you’re a victim, it is important to seek help. Ponzi If you believe that someone is trying to scam you, it’s best to contact an attorney as soon as possible. Haselkorn & Thibaut (InvestmentFraudLawyers.com) represents investors nationwide and offers a free consultation. Call them at 1-888-784-3151

Victims of investment fraud have a legal recourse to recover It’s their money. How it works

  1. Filing for a lawsuit or arbitration: Depending on how the fraud was committed, a claim can be filed at a federal or state court or with a self regulation organization such as the Financial Industry Regulatory Authority.
  2. Proving the fraud The lawyer must prove that the investor has been deceived, or that an investment firm or broker is negligent.
  3. A judgment or award can be obtained by: If the claim succeeds, the court will either award damages or issue a judgement.

Role of a Fraud Investment Lawyer

In this process, an investment fraud attorney is crucial. What they do is:

  • Examine and investigate: Your lawyer will examine your case, as well as your records of investment and transactions. They will also investigate any suspicious activity by the broker or firm.
  • Develop a Strategy: They will formulate a legal strategy following a thorough examination. This strategy will be based on a number of factors including the nature of the fraud and the amount of losses.
  • Filing a Lawsuit The lawyer then files a lawsuit, or arbitration claim, against the fraudulent firm or broker.
  • Representation: They will represent your interests throughout the entire litigation or arbitration process. This includes discovery, negotiation, and, if needed, a hearing or trial.
  • Recovery: The lawyer will help you with the recovery process if your claim is successful. This could include enforcing a judgment or award, and tracking down assets.

What Can We Learn from This?

You should be careful and confirm the background information of any individual selling investments. You can do this by using Investor.gov – a tool that is recommended by the SEC. If something seems too good to true, then it most likely is.

How many victims like Feurtado must we see before we understand the importance in vetting investment options? Prevention is always better than a cure, right?

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