Cleveland Pyramid Scheme Lawyers
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Have you been wrongfully accused of defrauding Cleveland investors by running a Pyramid Scheme or what we now refer to as a Bernie Madoff Scheme?
In today's sophisticated investment environment, there is sometimes a fine line between a legitimate business opportunity or investment medium and Cleveland investment fraud.
In a Cleveland pyramid scheme, investors try to make money by enlisting other investors who, in turn, enlist more people. Typically, participants are asked to pay to join and become a distributor of a product or service. Those who get in early make money from later investors. When the supply of new Cleveland investors runs dry, however, the entire pyramid collapses, some people do loose money.
Today, e-mail and the Internet are often used to recruit Cleveland pyramid scheme investors.
The Cleveland Ponzi scheme
Cleveland Ponzi scheme is like a Cleveland pyramid scheme, but is restricted by one central figure. Rather than a business investment opportunity, a Ponzi scheme involves an obscure investment vehicle with an unreasonably high rate of return. Early investors are paid by the investments of later on investors. But fraud transaction records encourage them to believe that the investment itself is actually generating the promised rate of return.
The scheme was named for Charles Ponzi, who became famous for using the technique to defraud investors in the early 20th century but now has taken new heights with Bernie Madoff.
What To Do Next?
If you have been accused of being involved in a Cleveland pyramid scheme, you should hire a criminal lawyer or attorney to help you with your case. Cleveland Pyramid Scheme lawyers and Cleveland attorneys represent individuals who have been charged with Ponzi and Pyramid Scheme crimes by arguing their cases in courts of law. After your Cleveland arrest on grounds of conducting a Cleveland pyramid scheme, request a Cleveland lawyer or contact a private criminal lawyer or Cleveland attorney immediately, Wise Laws can help your for sure.
Your Cleveland criminal attorney will not only be familiar with laws concerning pyramid schemes in your state, but will also have knowledge of any precedents or recent cases which might have a relevant bearing on your case. Additionally, skilled criminal lawyers are well versed in the customs of Cleveland court and the political and legal climate of that particular jurisdiction regards these schemes. Therefore, they will be able to work in your best interest, possibly brokering a plea deal or arguing for your Cleveland defense should your case go to Cleveland trial.