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Ask Colleen Grady Your Own Question
Colleen Grady
Colleen Grady, Attorney and Counselor at Law
Category: Criminal Law
Satisfied Customers: 443
Experience:  Attorney and Counselor at Law
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I'm a victim of an investment fraud possibly a Ponzi scheme.

Customer Question

I'm a victim of an investment fraud possibly a Ponzi scheme. I lost $601k invested $1.5m over a 18 month period and received 19 payments equaling $899k
Now I've been contacted by the DA investigator asking for my records. It's been 4.2 months.
Do I just turn over all my agreements and bank records and cooperate? Or do I use an attorney
Submitted: 6 months ago.
Category: Criminal Law
Expert:  Colleen Grady replied 6 months ago.
Hello. I have been an attorney for 26 years and I was a prosecutor in Investigations for 9 years. It is not unusual for an investigation to take a long time and for the victims to not be contacted for months. This would especially be the case with such a large investigation as this. I think it is extremely important that you have your attorney help to coordinate this. This case is complex and I think it is important that you have someone who know the ins and outs of an investigation like this. Organize what you turn over through your attorney. You want to make sure you have the best chance of getting back what what was taken from you.Please let me know if I can help more. If you are satisfied with my help, please rate me.
Customer: replied 6 months ago.
If this in deed is a Ponzi scheme wich I thought it was a legitimate investment
Since I have lost so much money could I be subject to any clawback on the payments I've received? Also isn't the statue of limitations 4 years?
Expert:  Colleen Grady replied 6 months ago.
In cases like this victims could be made to pay any profits received in excess of an investment contribution. I am not sure if clawback litigation would be used against you as you did not make any money. Even though you invested and got payments, you did not profit. It is important to have an attorney experienced in this type of case to advise you.In California, the statute of limitations is "within four years after the transfer was made or the obligation was incurred or, if later, within one year after the transfer or obligation was or could reasonably have been discovered by the claimant."