No Recovery, No Fee

424-835-5733 | 310-881-6804
866-451-2517

You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

Bona-fide investment opportunity? No, bogus from A to Z

It looked like a suitable and attractive investment opportunity.

It turned out to be a Ponzi scheme.

Financial scammers have undoubtedly been defrauding innocent consumers since the concept of cash first gained traction, and it is likely that one of the first A-game scam vehicles they came up with was the Ponzi scheme.

Although that particular ruse can become tremendously complex as it unfolds over time, it is at its essence a relatively simple type of fraud.

You take from Peter to give to Paul.

In other words, you pay back -- at least to some degree, often with interest payments -- an original band of duped investors with proceeds you are able to bilk from subsequent parties. When that source of income eventually dries up (that is, when new investors aren't continuously being fleeced), earlier investors cease being paid. Eventually, the scheme simply implodes on itself and is revealed for what it is: a massive fraud that was never sustained by a legitimate income source to begin with.

Such schemes are far from uncommon, as evidenced by a recent story chronicling yet another Ponzi scam perpetrated upon consumers by a bogus accountant operating out of the Los Angeles suburb of Chino Hills.

That individual's professional license actually belonged to another party. He was able to use it to build trust among his victims, who collectively gave him nearly $4.5 million based upon a belief that they were on the ground floor of a lucrative earning opportunity.

That was true, of course, but only for the fake accountant.

That individual now faces multiple criminal counts alleging theft and securities fraud.

The victims' money is gone.

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The Law Offices of Marc I. Zussman
10250 Constellation Blvd.
Suite 2300
Los Angeles, CA 90067
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Local: 310-525-3516
Toll Free: 866-451-2517
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