Suffolk County Investment Fraud

Our Suffolk securities fraud attorneys have worked on several noteworthy cases in the county. Suffolk occupies the extreme south east of New York State, in the central and eastern parts of Long Island. Surrounded by the ocean and home to acres of vineyards and farms, the north and the south forks of Suffolk County developed as popular summer seaside escapes, both for those seeking the splash of the Hamptons and the anti-Hampton charm of the quieter fork. Suffolk also has great universities like Stony Brook and stretches of retail and tech innovation along the Route 110 corridor.

With sprawling water front mansions and stately estates, Suffolk County easily has some of the priciest neighborhoods in the country, according to the Forbes list, with average home prices exceeding a few million. Some of these are: Water Mill, Bridgehampton, Mill Neck, Amagansett, Montauk, Wainscott, Old Westbury, Glen Head, Great Neck, Southampton, Quogue, and Sag Harbor. Once a sleepy Long Island village, places like Bellport have recently emerged as trendy yet idyllic under the radar escapes. With established and emerging pockets of wealth, this county also witnesses frequent financial scams. Even the infamous Ponzi schemer Bernie Madoff had an $8 million oceanfront property in Montauk, nestled between Robert DeNiro and Ralph Lauren’s holiday homes!

From working class immigrants to the richest of the rich, people from all backgrounds have been taken in by financial scams. Our team of securities fraud lawyers in Suffolk have represented clients in this area from varying backgrounds. Between 2005 and 2009, there was a $415 million Ponzi scheme that reportedly spread like wildfire throughout Long Island, masterminded by Nicholas J. Cosmo. This scheme was targeted at middle-class investors. The sales agents/ advisers allegedly solicited investors with the false promise of 12 to 14 percent return within a few weeks. None of the sales agents or the brokerage firm, Agape, were ever registered with the SEC, according to the SEC press release. The SEC reportedly charged 14 sales agents over the next 5 years, who misled investors and illegally sold securities in this scheme. This brings to mind an old adage 'if it sounds too good to be true, it probably is', which generally applies to investments. Also the need to check out investment firms and its advisors on FINRA’s BrokerCheck. Malecki Law’s Suffolk securities fraud attorneys highly recommend that investors use all the tools available to them and make investment decisions cautiously.

In February 2017, Senator Gillibrand reportedly unveiled a bill to better protect senior citizens from securities fraud by unifying all the resources available for reporting fraud. According to Gillibrand, more than $16 million have been scammed from seniors in Suffolk County in the last year or so. Versions of this bill have been floating around since 2012, but this new effort should help make it a law. In one of the many instances, a 56 year old man from had allegedly run a real estate scheme bilking 7 retired individuals of $2.9 million. According to reports, he preyed on the trust of the elderly who trusted him with their retirement money, and pretended to be a financial advisor operating under the name of Professional Investment Advisor.

Some of the most common types of cases that our securities fraud lawyers in Suffolk handle are:

  • Investment Fraud
  • Unsuitability
  • Overconcentration
  • Churning & Overtrading
  • Breach of Fiduciary Duty
  • Ponzi Schemes
  • Affinity Fraud
  • Elder Financial Fraud
  • Promissory Note Fraud
  • Broker Embezzlement & Unauthorized Trading
  • Conversion & Theft
  • Failure to Execute & Supervise
  • Market Manipulation

At Malecki Law, we are a boutique securities fraud law firm and our attorneys have years of experience fighting for investor recovery and representing investors and investment professionals in regulatory and self-regulatory hearings at FINRA, the SEC and at the New York City and State Courts. If you or anyone you know has been solicited with questionable schemes or seen suspicious activities in your accounts, schedule a free initial consultation with Malecki Law, by calling 212-943-1233, or emailing jenice@maleckilaw.com

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Jenice and her staff are all excellent - highly responsive, answer as many questions as you have in a way that you can understand, are very patient, sympathetic to your situation, and make you feel comfortable during a difficult and stressful time. I never once had to follow up - they always came to me to keep me updated by phone and mail. I highly recommend them.
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I worked with Jenice and her team to successfully resolve a brokerage / securities related issue for an elder relative and was quite pleased with how they walked us through the process and took into account the challenges that age sometimes unfortunately present. They were all professional - and effective. I would use them again without question if the need arose.
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