A California securities fraud attorney can provide representation to those who have been victimized by fraudulent acts that caused them to suffer financial loss. Many people, unfortunately, assume that if they do business with well-known investment firms or investment advisors that they can count on the advice they receive and that their money will be safe.
Sadly, this is simply not the case as securities fraud can happen even with financial organizations that seem as though they should be trustworthy because of their size and reputation. For example, just recently, a vice president at Goldman Sachs was charged with securities fraud offenses.
Goldman Sachs Vice President Charged With Securities Fraud
According to CNBC, a Goldman Sachs Vice President was charged with seven different criminal counts for securities fraud. The VP was working at an investment bank that had locations in both New York and San Francisco and he has since been placed on leave by Goldman Sachs.
The charges stem from misconduct that occurred when the Goldman Sachs vice president became involved in trading with an unnamed co-conspirator. The VP had material information that was not available to the public, which he obtained through his role with the investment bank. He used that information to work with the co-conspirator to trade stock in companies about which he had insider knowledge. Insider trading of this nature is unlawful, and it is considered to be a violation of securities fraud laws.
There were a number of stocks involved in the alleged insider trading scheme, and the defendant has been accused of using market-moving information he obtained through his professional role to make trades that provided personal financial gain. This market-moving information included details about acquisitions and political restructuring.
Insider trading is just one of many forms of securities fraud that can occur, however, and many of the types of fraud offenses that defendants can be charged for have more direct victims such as individuals who make investments on the basis of fraudulent information like the information provided in pump and dump schemes where a stock price is artificially inflated.
Avoiding becoming a victim of securities fraud can be a major challenge, especially as even trusted big name financial firms still end up sometimes employing people who behave dishonestly. If you are victimized by fraud and you suffer losses, it is important to talk with a California securities fraud attorney to find out what options you have available to you for pursuing legal remedies.
Evans Law Firm has extensive experience in securities fraud cases and we are not afraid to take on big name financial firms to help clients who have suffered financial losses due to financial dishonesty. To find out more about how we can help you, contact Evans Law Firm online or call 415-441-8669 for a free initial consultation today.