These days it seems that fraud cases are on the rise, perhaps spurred by the California and global recession. Even so, well before the recession hit, schemes such as that of Bernie Madoff’s were in full swing. In the latest news, the New York Times reports that last year about $12 billion was withdrawn from Madoff’s firm, and lawsuits to recover that money from the investors who made the withdrawals continue to move forward. Meanwhile, according to the Los Angeles Times, the Securities and Exchange Commission (SEC) is boosting its efforts to crack down on fraud.
On that front, a recent blog from The Business Insider notes that the SEC has decided to recommend that Angelo Mozilo, who co-founded home-mortgage lender Countrywide Financial, be charged with civil fraud. Unfortunately, the internet frontier is no different. A Reuter’s article posted by PCMag discusses the “surge” in internet fraud during the recession last year, reporting that losses due to fraud set a record at $264.6 million in the United States. As can be seen, business people and consumers are forced to deal with fraud all too often, and in tough economic times the experience is even more troublesome. San Diego Law Firm has years of experience in handling cases involving fraud, such as securities fraud, business or real estate misrepresentation and fraud, as well as other business disputes. To get help in resolving stressful situations such as these, contact us at San Diego Law Firm, (619) 794-0243.
Twitter It!
