Discovering that you are the main person in a Ponzi scheme only after facing charges can be challenging. Ponzi schemes break the law under the Florida Communications Fraud Act and other state rules in Florida. Here’s how to protect yourself and handle this challenging situation:
Talk to a lawyer ASAP
Get help from a lawyer who knows about financial crimes or securities law. They can help you understand your rights, deal with the courts and make a plan to defend yourself. A good lawyer can also help tell your side of the story in court.
Gather evidence
Collect all papers, messages and records that show how you talked to the person who set you up. This includes emails, deals, financial reports and other important information. Proof is critical to showing you’re innocent and did not know what was happening.
Work with the authorities
Be honest and help the authorities and groups like the Florida Attorney General’s Office or the Securities and Exchange Commission (SEC). Fully helping can show that you did not know about the scheme and want to fix things.
Tell other people
If you got others into the scheme without knowing, tell them what’s happening. Being open can help save your good name and relationships. Explain that someone tricked you, too, and you are trying to fix it.
Prepare for your legal defense
Work with your lawyer to build a strong defense. This might mean showing you did not know about the fraud, proving you did not mean to trick anyone and showing you acted in good faith. Your defense might also show your steps to verify that the investment was real.
Watch your finances
Keep a close eye on your bank accounts for anything odd. Think about working with a financial expert to see how this might affect your finances and make a plan to get back any losses.
Stay informed
Learn about Ponzi schemes and other financial tricks to protect yourself from future scams. Knowing the warning signs can help you spot and avoid similar problems.
Get support
Facing charges can be very stressful. To deal with the emotional impact, consider getting help from friends, family or counselors.
These steps can protect you and show that you’re trying to fix things. It’s also a good idea to talk to a lawyer if you need more help or have specific questions.