Investment fraud also known as securities fraud and stock fraud – is a serious crime as it can victimize individuals who place their trust in their financial advisors to properly manage their investments. These deceptive practices typically occur in the stock or commodities markets which induces investors to make purchase or sale decisions on the basis of false information and are a clear violation of securities laws. Examples of common securities fraud violations include manipulating lying on SEC filings and committing accounting fraud.
Securities Fraud can carry both criminal and civil penalties, resulting in imprisonment and fines
Investigations of securities fraud are carried out by the Securities and Exchange Commission (SEC) and National Association of Securities Dealers (NASD). We found the following article interesting, and highlights the problem that many Americans face today;
Whistleblower report alleges widespread waste, fraud, abuse at Social Security office
A whistleblower’s report to the Office of the Inspector General for the Social Security Administration details a dysfunctional federal office in Madison drowning in waste, fraud and abuse. The report, submitted by whistleblower and Madison Official of Disability Adjudication and Review manager Deborah Holland, alleges widespread corruption and cover-up by top managers at the local office and at the regional Social Security Administration headquarters in Chicago. She also sent the report to the Office of Special Counsel , which is supposed to protect whistleblowers.
If you believe you have been harmed by investment or securities fraud, give our Michigan Attorneys a call today. We are here to fight for your rights!