The term broker fraud covers a wide range of deceptive practices performed by a broker or advisor that often result in significant losses for the investor.
Broker fraud can occur in variety of situations. Common types of broker fraud are: misrepresentation or omission, unauthorized trading, stock manipulation, embezzlement, breach of fiduciary duty, and overconcentration.
Embezzlement is a type of fraud in which the embezzler, such as a broker, attains assets lawfully but then uses them for unintended purposes.
Some warning signs of broker fraud include: promises of high returns with little or no risk, pressure to invest immediately, unregistered investments, unlicensed investment professionals and firms, complex or secretive strategies, and difficulty receiving payments.
If you suspect broker misconduct, you should contact an investor rights attorney immediately who can review your case and help you decide on the best course of action.
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