Fund recovery in bank failures or fraudulent investment schemes is often a frustrating and long-term process. In many cases, money and other assets are (partly) embezzled and often compensation for those being defrauded is derived from multiple sources. The strategies we follow, aim to provide maximum recovery and compensation. To limit potential losses, we include the following (combination of) components:
- Insurance guarantees; including deposit protection schemes or investment insurance,
- Out of court settlement and ADR,
- Receivership or liquidation (including bail-in),
- Government rewards and compensation,
- Liability claims.
Fund recovery can be a lengthy process. Illicit money flows often involve global company structures in tax havens which are difficult to unravel. Mandatory deposit and insurance guarantee schemes provide customers an initial pay-out but often, available funds and other forms of short-term liquidity are not sufficient to cover the losses of depositors or investors, making the deposit and insurance guarantees a necessity to limit losses and further asset depreciation. When traditional repayment does not cover the full customer deposit or investment, we include several additional procedures to maximize recovery.
Where possible, Legal Floris LLC groups clients together with the aim to limit upfront cost, which originates from class-action claims. Therefore, duped depositors and investors are served in a more efficient and effective way. If you are a victim of a bank failure or you lost your investment by fraud or embezzlement, please feel free to contact us via e-mail or the web form here.