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INVESTMENT FRAUD LAWYER

An investment fraud lawyer assists the investor in researching the credibility of an investment company and any potential deception.

NORMAL INVESTMENT RETURNS

Consider that systemic banks offer their best clients (clients with deposits exceeding one million euros) investment services through specialised financial advisors, who safely invest their money with an average return of 3% on capital per year for low- and medium-risk investments and 6% for high-risk investments. So if we became VIP clients at a bank and gave it the 250 euros that we gave to some X or Y investment company, it would return to us, after one year, 15 euros in profit. Given these facts, the prospective investor should reasonably ask how it is possible for an (allegedly) investment company to manage to double our money in one week. This, then, is the first warning sign, and once we recognise it we should accept that we have lost 250 euros and cease all communication with the perpetrators.

It is obvious that we cannot know in advance whether an investment company is reliable; however, we can turn to a cybercrime lawyer to carry out the relevant investigation for us before we invest. What we should do initially is ask the person who has approached us to tell us the company’s full corporate name, where its registered office is, whether it is licensed and by which supervisory authority. We will ask them to send us this information in writing by an email which we will forward to the specialised cybercrime lawyer.

BANK LIABILITY

Typically, a victim who has transferred a sum of money to a third-party account abroad has a window of two days to request recall of the wire transfer and have the money returned, and I will of course add that a recall request drafted by a specialised lawyer, which legally binds the bank as to its actions, is far more effective than a simple recall request submitted by the victim. In any event, however, once those two days have passed and the money has been withdrawn by the perpetrators, there is no possibility of the funds being returned or seized, or of accounts being frozen, without a court order. And in order for a court order to be issued, a criminal complaint must first have been filed. Consequently, the tool that will give us the chance to claim our money back is the criminal complaint.

 

FREQUENTLY ASKED QUESTIONS ABOUT INVESTMENT FRAUD LAWYERS

1. How do I know I have fallen victim to investment fraud?

The warning signs are fairly specific. When the company promises excessive returns in minimal time, when it refuses to provide its full corporate name, registered office and licensing number from a supervisory authority, or when it constantly demands additional payments to “unlock” the profits, you are facing fraud. Another sign is pressure to install remote-access applications on your computer or to transfer money to foreign accounts where the beneficiary is a natural person. As a rule, once such signs are detected, all communication is broken off and you should turn immediately to a cybercrime lawyer to assess the situation and plan the next move.

2. What can I do to get my money back?

If no more than two business days have passed since the transfer, there is room to recall the wire transfer through the sending bank. A recall request drafted by a specialised lawyer that legally binds the bank as to its actions is clearly more effective than a simple request by the victim. Once that window has elapsed, the only avenue is a criminal complaint to the Prosecutor’s Office of the Court of First Instance, which allows the authorities to seek judicial orders freezing accounts. In parallel, a civil claim against the bank for breach of its duties to monitor suspicious transactions is examined, as well as an action for damages against the perpetrators if they are identified.

3. Is the bank at fault for permitting the transaction?

In many cases, yes, and this is one of the principal routes for recovery. The bank is required, under the PSD2 Directive, Law 4537/2018 and the anti-money-laundering regulations, to monitor unusual transactions, in particular transfers of large sums to foreign accounts to beneficiaries with no prior relationship to the customer. When it fails to trigger warning mechanisms or strong customer authentication, liability arises. The lawyer examines the transaction history, the bank’s conduct and the relevant disclosures, in order to substantiate the negligence and bring an action or extra-judicial notice for return of the amount.

4. Where is the criminal complaint filed and how long does it take?

The criminal complaint is filed with the Prosecutor’s Office of the Court of First Instance of the victim’s place of residence or the place where the act was committed, and from there it is forwarded to the Cybercrime Prosecution Directorate, which has the technical capacity to handle such cases. The preliminary investigation typically takes several months, as correspondence with foreign banks and platform providers is required. The total period until a final ruling is issued may range from one to three years, depending on the cooperation of foreign authorities and whether the perpetrators are identified. In parallel, the civil claim against the bank proceeds independently and often bears fruit faster than the criminal proceedings.

5. What documents and evidence do I need to gather?

All evidence of communication with the perpetrators is gathered: emails, messages on WhatsApp, Telegram, Viber, screenshots from the platform on which the supposed profits were displayed, names and telephone numbers of the persons who approached you, and the address of the website. From the banking side, all wire-transfer evidence is required, including the beneficiary IBAN, amounts and dates, the correspondence with the bank and any recall requests. Advertisements on social media through which you came across the supposed investment are also useful. The lawyer assesses the material and indicates what additional information is needed to strengthen the case file.

6. What is the lawyer’s role and what experience does the firm have?

Our firm systematically handles investment fraud, phishing and online banking fraud cases, with perpetrators operating mainly through shell companies abroad. The lawyer undertakes the preventive credibility investigation before the investment, the drafting of a binding wire-transfer recall request, the filing of a criminal complaint with the Prosecutor’s Office of the Court of First Instance with full technical documentation, the extra-judicial notice and the bringing of an action against the bank for breach of its duties, as well as appearance as civil claimant in the criminal proceedings. Speed of response is critical: the faster the mechanism is mobilised, the greater the chances of recovering part or all of the amount.


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