Market Manipulation and Pump and Dump Schemes
Fraudulent Schemes Often Target Seniors
Coordinated securities fraud schemes can involve concealed offshore accounts, fake news press releases, high-pressure (“boiler room”) sales calls, pump and dump maneuvers, money laundering, and more. Schemers target seniors because seniors have more money to invest and may hear callers out due to loneliness or simply because they have more time to listen. Securities fraud is big business in California and seniors alone lose billions each year to it.
Our California financial elder abuse and securities fraud attorneys represent senior victims of Ponzi schemes, pump and dump runs, phony investment opportunities, unregistered offerings, insider trading, advanced fee rip-offs (where the payoff never comes), or any other type of securities fraud here in California. Fraud on seniors constitutes State and federal securities law violations and violations of elder abuse protections. If you or a loved one has been the victim of securities fraud or financial elder abuse in California, call our elder abuse and securities fraud lawyers today at (415)441-8669. If you’ve been wronged, we will pursue all remedies including restitution (getting your money back), rescission (undoing an invalid contract), extra damages, and recovery of attorneys’ fees and costs in bringing a financial elder abuse action.
In the meantime, always check the background of any promoter who approaches you with an “opportunity” or tip on a penny stock. A recent FBI roundup of brokers in Southern California reveals just how elaborate the market manipulation schemes can be. In the case, promoters and brokers ran up share prices in two penny stocks through phony trades run through offshore accounts in order to create artificial trading volume in the shares. At the same time, a phony stock promotion website and “newsletter” hyped investors on the shares. Investors saw the phony trading volume and bought in as prices rose. Promoters dumped their own shares as prices artificially rose and pocketed $10 million before the stocks tanked. The government has seized the assets of the promoters to help investors recoup their losses.
If you have been defrauded by a broker or advisor through securities fraud or financial elder abuse, call Ingrid M. Evans and the other San Francisco and California securities fraud and financial elder abuse attorneys at Evans Law Firm, Inc. at (415) 441-8669, or by email at <a href=”mailto:email@example.com”>firstname.lastname@example.org</a>. Our attorneys have experience with securities, annuity, and other investment fraud, financial elder abuse cases and complex qui tam or whistleblower cases including offshore tax avoidance cases, complex financial contract cases and cases against large insurance companies. We can help guide your case through a jury trial or toward an equitable settlement. We also handle cases involving physical elder abuse, nursing home abuse, whole life insurance and universal life insurance, and indexed, variable, and fixed annuities.
 Evans Law Firm, Inc. was not involved in the case in any way.