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I will be on and off the website today periodically.
However, the answers to your questions will be pretty general because a lot depends on the exact facts of the case and whatever type of prosecution they pursue.
I would be glad to discuss them with you but I want to make sure that you understand they can't be black and white answers because there are a lot of possible variations.
Yes but the statute of limitations is black and white? what is the SOL in TX for this crime. It is 4 years for fraud. What triggers starting the clock?
It is black and white to an extent. The statute of limitations sometimes doesn't "run against the state" meaning the state can bring a suit for their damages at any point.
and if the "state" is not involved?
The statute of limitations in Texas for fraud is four years. With fraud it can be from the time of discovery or from the time it "should have reasonably been discovered".
For most state criminal codes under which fraud would fall it is a 5 year statute of limitations.
For criminal cases it would be 5 years from the date the crime was committed, not when it was discovered.
The investor would be subject to a clawback, but the issue is then whether the funds were used in the scheme, to what extent (if any) the person was aware of the scheme, and when the money was removed from the investor.
I think a good argument would be possible that none of the initial investment would be subject to clawback, just any increase in the account.
ELPFUL. The broker was arrested in 2007. I suspected mismangement in 2005 when I got my investment out. So in Texas the SOL is 4 years? In some states 2 Aand in some more. I read somewhere that an investor is not subject to clawback if they reasonably suspected incompetence or mismanagement and withdrew their investment. Does that, or something reasonably like it, ring a bell?
Yes, 4 years on fraud. That sounds right, plus the farther back you withdrew your money then the less likely that they will try to recover the money. Then they also usually only go after increases and not initial investments from people that took their money out before the scheme came to light.
de minimum non curat lex. Thanks. Been helpful.
You're welcome and best wishes to you.
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