Utica Pyramid Scheme Lawyers
Call Today 800-270-8184
Have you been wrongfully accused of defrauding Utica investors by running a Pyramid Scheme or what we now refer to as a Bernie Madoff Scheme?
In today's sophisticated investment environment, there is sometimes a fine line between a legitimate business opportunity or investment medium and Utica investment fraud.
In a Utica pyramid scheme, investors try to make money by enlisting other investors who, in turn, enlist more people. Typically, participants are asked to pay to join and become a distributor of a product or service. Those who get in early make money from later investors. When the supply of new Utica investors runs dry, however, the entire pyramid collapses, some people do loose money.
Today, e-mail and the Internet are often used to recruit Utica pyramid scheme investors.
The Utica Ponzi scheme
Utica Ponzi scheme is like a Utica pyramid scheme, but is restricted by one central figure. Rather than a business investment opportunity, a Ponzi scheme involves an obscure investment vehicle with an unreasonably high rate of return. Early investors are paid by the investments of later on investors. But fraud transaction records encourage them to believe that the investment itself is actually generating the promised rate of return.
The scheme was named for Charles Ponzi, who became famous for using the technique to defraud investors in the early 20th century but now has taken new heights with Bernie Madoff.
What To Do Next?
If you have been accused of being involved in a Utica pyramid scheme, you should hire a criminal lawyer or attorney to help you with your case. Utica Pyramid Scheme lawyers and Utica attorneys represent individuals who have been charged with Ponzi and Pyramid Scheme crimes by arguing their cases in courts of law. After your Utica arrest on grounds of conducting a Utica pyramid scheme, request a Utica lawyer or contact a private criminal lawyer or Utica attorney immediately, Wise Laws can help your for sure.
Your Utica criminal attorney will not only be familiar with laws concerning pyramid schemes in your state, but will also have knowledge of any precedents or recent cases which might have a relevant bearing on your case. Additionally, skilled criminal lawyers are well versed in the customs of Utica court and the political and legal climate of that particular jurisdiction regards these schemes. Therefore, they will be able to work in your best interest, possibly brokering a plea deal or arguing for your Utica defense should your case go to Utica trial.