In today’s global economy, capital is more mobile than ever. While this has brought wealth and an unprecedented access to goods and services, it has also produced some unfortunate byproducts. The intricate movement of money in this labyrinthine marketplace makes it harder than ever for everyday investors to perform their due diligence. This means that it is easier than ever for unscrupulous investment managers to hoodwink well-meaning Americans out of their hard-earned savings. The labels are all-too-familiar: Ponzi schemes, pyramid schemes, and plain old fraud are legitimate threats to the modern investor. For victims of securities fraud, it can seem like the ground is evaporating beneath their feet. It’s not the end of the world! Here are a few steps that can help people get back on their feet after being victims of securities fraud.
Don’t Shoulder the Blame
Many people’s first instinct is to turn the blame inwards. They wonder what made them stand out as a mark, what they did wrong to land in their unfortunate position. They lose faith in their ability to trust people and in their ability to judge character. However, this is misguided. A quick glance at the news will reveal that securities fraud is a frequent occurrence in the world today. Instead of asking what they did wrong, people should ask what they can do to prevent future victims from dealing with the same problem.
Once people get over the anger and the blame, they’re often left confused. Securities fraud can be complicated, and victims often have many important questions. An experienced attorney can help people who have suffered a loss as a result of their financial broker walk through the next steps. Whether it’s arbitration or a court proceeding, an attorney may be able to help victims chart a path forward to recovery.
Create a Budget
The reality is that not all victims of securities fraud will be able to recover their losses. For those who are made whole, the process can take time. It’s important for those on the road to recovery to realize their changed financial footing and act accordingly. Continuing to spend as if nothing happened will make the problem much worse.
Fishman Investment Recovery Lawyers work to help investors recover losses resulting from securities fraud. Contact us today.