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West Virginia Securities Fraud Lawyers

The Lovers State, West Virginia has a reputation for natural beauty and romance. It is a sad irony, thus, that a number of West Virginia residents have been victimized in recent times with romance scams and other fraudulent schemes. Romance scams have long been around in various forms but have taken off in recent times with the popularity of online dating and fake dating sites, luring people into sending money, typically without ever having met. These scams take millions from Americans each year and are heavily underreported because of the extreme embarrassment victims feel after being duped. The elderly are often the most vulnerable targets, which, according to the FBI, has accounted for $1.7 billion in losses for 92,000 victims over the age of 60. The same report suggested that West Virginians over 60 lost over $3 million to romance scams in 2021. Malecki Law is a securities fraud law firm that has investigated and litigated against perpetrators and enablers of a variety of investment scams and frauds, including Ponzi schemes, that use unethical practices to influence investors, recovering tens of millions of dollars for seniors and other retail investors caught up in schemes perpetrated across the U.S. and abroad.

In September 2022,a 29-year-old man living in Huntington, West Virginia, was sentenced to five years of federal probation and ordered to pay $90,000 for his role in a romance fraud scheme that involved multiple perpetrators who took at least $2.5 million from more than 200 victims. The scheme took place between 2016 and 2020, whereby the fraudsters created online profiles and fictitious names with the intention of forming romantic and friend relationships with the victims. The perpetrators used these relationships to coerce vulnerable victims into sending money to various bank accounts under their control.

Romance scams are not the only frauds affecting West Virginians. Ponzi schemes, even post Bernie Madoff, are still alive and well. In March of 2021, Natalie Cochran, a pharmacist in Raleigh County was sentenced to more than 11 years in federal prison for her role in convincing 11 people to invest roughly $2.5 million in government contracts. One investor sent over $500,000 via wire transfer. Ms. Cochran never invested the money she took from victims, but rather put into her own personal and business bank accounts.

Malecki Law’s securities fraud lawyers work with investors and retirees to recover investment losses in a host of financial frauds, including romance scams, Ponzi schemes, and other financial frauds. To list just a few of our results and settlements:

  • $7.2 million from a major brokerage firm involving a real estate-based Ponzi scheme in the Bronx;
  • $3.8 million in the Biscayne Capital Ponzi scheme and theft case on behalf of Latin American investors who had their money at a U.S. brokerage firm;
  • Over $1.5 million in insurance settlements for retired investors in Florida, Massachusetts, New York, and New Jersey from a small brokerage firm that failed to supervise one of its financial advisers; and
  • Over $3.9 million in a settlement for upstate New Yorkers defrauded in a Ponzi scheme where the victims thought their funds were safe at a major U.S. brokerage firm.

Malecki Law’s securities fraud attorneys have handled numerous securities litigations, arbitrations, and mediation cases with record settlements and awards. Our team is experienced with recognizing fraudulent practices, such as identity theft, which attempt to dodge firm compliance and supervisory controls of financial entities that have a supervisory duty to be on the lookout for customer funds at risk. Financial frauds can range from improper use of funds, falsification of records, stolen identity, embezzlement, and coercion.

West Virginia seniors are particularly vulnerable. Malecki Law’s securities fraud lawyers are experienced in working with seniors and retail investors of all backgrounds to recover investment funds lost to a variety of fraudulent financial schemes. If you or anyone you know has been victimized or solicited with questionable schemes, or has identified strange activity in your investment accounts, schedule a free initial consultation with a securities fraud law firm like Malecki Law, by calling (212) 943-1233, or emailing

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Testimonials From Former Clients
I highly recommend Jenice and her team at Malecki Law. I had a challenging, and lengthly case. Jenice was professional, very knowledgeable, and a pleasure to work with. She managed to make the process far less stressful during a very difficult time. They care about their clients, and it definitely shows. Mario
Jenice is truly a miracle worker and one of the top securities lawyers. She handled a very difficult case for us, displaying her legal knowledge, intelligence, and savviness throughout the process. I cannot recommend her enough. The quality of work from her team rivals that of corporate law firms. She was always available, extremely professional, and made sure to know all the details of the case. We were very fortunate to have been referred to Jenice and highly recommend her for any securities related legal issues. Nathan A.
An excellent professional who represented us in trial regarding a bank fraud, an unexpected and difficult time. A professional that worked hard, persevering and who stood toe to toe against firms that had a team of excellent lawyers backing them up. Her unflinching determination really stands out, it makes you feel you have someone who really cares about trying to recover what you lost from the people that wronged you. Salomon Levi
It is difficult to thank you in words when gratitude comes from the heart, so I will try to link feelings with writing. It is essential for us to mention your excellence as a professional, your aptitude on legal fields, and your unavoidable persistence. All of these virtues that elevate the profession you exercise in such an admirable way, go hand in hand with your sense of ethics, your human warmth and the transparency in your actions. To sum up, thank you for being a listening ear and for having the right word while transmitting information about the legal process. Having you as our representative during such an adverse situation was a privilege and enough reason for our eternal gratitude. Angeles Aparain
To say that my securities litigation was complex would be a severe understatement. With multiple parties involved and spanning many years, trying to understand the issues was daunting to say the least. Jenice and her team broke down the transactions by segment and by party uncovering every hidden expense. In the end, I was more than happy and could not thank Jenice and her team enough. I would not hesitate to recommend Jenice to anyone. She is highly professional, incredibly knowledgeable, well connected to industry experts, has a tireless work ethic and is so pleasant and easy to communicate with. Five stars for sure! Andrew Loughrane