Conversion/Theft of Funds

While it may not seem possible that a broker or adviser can steal, convert, or misappropriate your funds, we see these fact scenarios routinely.  Sometimes the trusted financial adviser will simply cause the client's money or investments to be moved to his/her account, and sometimes the broker or adviser will have a rather complex set of investments and transactions to conceal the underlying theft or conversion.  The best protection is to know precisely what investments you have, how much money you have in them, and to routinely monitor those investments through your monthly or quarterly statements.  Further, you should never accept a monthly statement that appears "basic", or one that appears to be able to be generated on a home computer.  Don't take your broker's word for the amount of your investments; rather rely on the accurate reporting of an independent third party.  When that doesn't exist, ask why.

Simply stated, a broker or adviser can not borrow, use, misappropriate, convert, or steal your money or investments under any scenario.  If you suspect that you are being mislead about the true nature of your investments, the amount of any investment, the current value of any investment, or if you have any questions about the movement of any money or investments between accounts, you should investigate the underlying facts and circumstances.  Most importantly, verify the facts. 

The Forman Law Firm, P. C. will investigate your situation and determine what happened to the money and/or investments.  Please contact us for a free case evaluation.