Investment Fraud, Ponzi Schemes and Pyramid Schemes: Legal Assistance for Victims
The Law Offices of Keith L. Miller is presently investigating claims on behalf of victims of ponzi or pyramid schemes, including the following companies: Millennium Bank, United Trust of Switzerland, Bernard L. Madoff Investment Securities, LLC, and Stanford Financial Group.
MILLENNIUM BANK FRAUD
Millennium Bank is a St. Vincent and Grenadines offshore bank, whose U.S. assets were seized by the Securities Exchange Commission on March 25, 2009. The authorities in SVG subsequently suspended the operations of the bank and appointed a receiver.
More than 125 victims of the Millennium Bank fraud, whose total investment with the bank exceeds $40 Million Dollars, have retained Mr. Miller to investigate the circumstances of the fraud and to pursue legal actions against third parties who may have liability for their acts and/or omissions with respect to the bank and its affiliates.
In each of these reported ponzi schemes, the firm is investigating potential actions against U.S. banks, Custodians, feeder funds, fund of funds, CPA's, auditors and other third parties who were involved in company transactions, had oversight or reporting obligations, companies, or who placed or recommended placement of investors monies with these fraudulent institutions.
BERNARD MADOFF FRAUD
With respect to the Madoff fraud, this list includes, but is not limited to Kingate Management, Ltd., Tremont Capital Management, Inc., Fairfield Greenwich Group and Boston based Cohmad Securities Corporation. Our firm is presently representing victims of each of the above feeder funds and working in cooperation of several national securities litigation firms who have filed class actions against these feeder funds.
Several actions have already been filed in the Madoff case. Most recently, a group of investors commenced an action in Bridgeport, Connecticut Superior Court against Fairfield Greenwich Group and others alleging that these companies failed to perform due diligence in overseeing and recommending investments with Madoff. The Massahusetts Secretary of State has commenced an Administrative Action against Fairfield Greenwich Group, its principals and affiliates, alleging that this feeder fund participated in Madoff's fraud involving several Massachusetts investors. That Complaint can be reviewed by clicking on the link below.
Receivers have been appointed by the Courts to pursue remedies on behalf of direct customers of Madoff, Standford and Milennium who have lost money. U.S. victims must rely on the SEC's recovery efforts and related bankruptcy proceedings in order to recover directly from the perpetrators of the schemes. Where investment securities are involved, victims must submit reimbursement claims, limited to $500,000, to the SIPC.
There are also may be some direct investors with these companies who have received pay outs or redemptions, which total more than their total deposit in these funds. Such investors may be subject to "claw back" proceedings by the trustee in bankruptcy, attempting to recover these excess funds. In this instance, legal representation will be advantageous to resist or defend such recovery actions and to preserve those assets.
Other potential remedies and sources of recovery may be available to victims with direct and indirect relationships with the defrauding companies, via claims against others who steered monies into these funds, or who had oversight responsibilities. In any instance, any investor who invested monies with Madoff, Stanford, Milllennium or others should know their legal rights, be aware of notice requirements pertaining to insurance policies, which may have provide coverage for such claims, and be sufficiently informed of their rights to determine if legal action is possible and appopriate.
Mr. Miller has prior experience investigating ponzi schemes on behalf of victims, and has successfully recovered investor funds. Specifically, he pursued an international commodities broker, Alex Herbage, who is now serving time in a U.S. Federal prison. Well before his downfall, Mr. Miller determined that Herbage was running a scam and was able to recover all of his clients' investments.
Herbage was indicted in 1985 in the Middle District of Florida on twenty-three counts of mail fraud and on two counts of interstate or foreign transportation of fraudulently obtained money or property. Herbage, a British citizen, was residing in a castle north of London, England and maintained offices in Amsterdam and Geneva.
The United States sought and won Herbage's extradition from Great Britain. Herbage was delivered into United States custody in December 1986 and thereafter pleaded guilty to three counts of mail fraud. He was then sentenced to three consecutive five-year terms of imprisonment. His appeal was unsuccessful.
The Law Offices of Keith L. Miller is prepared to review your potential claim without charge, and will consider representing you on a contingent fee basis, which means that you will not have to pay out of pocket for your legal representation. The firm will take a fee only if we are successful in recovering or preserving your assets.
If you would like a free confidential initial consultation, please contact this office by calling (617) 523-5803, or Click Here to send a confidential email.
MILLENNIUM BANK LINKS:
MASSACHUSETTS SECRETARY OF STATE:
MADOFF BANKRUPTCY DOCUMENTS:
OTHER MADOFF LINKS:
STANFORD FINANCIAL GROUP LINKS: