Many people do not realize that all fraud victims have the right to sue those who in fact ripped them off. This right even extends to persons who were victims of scams perpetuated by criminals in foreign countries.

1. All Fraud Victims have the Right to Sue
Many people do not realize that all fraud victims have the right to sue those who
in fact ripped them off. This right even extends to persons who were victims of
scams perpetuated by criminals in foreign countries.
Not only can you sue the con artists who ripped you off, but you can also sue
anybody else who was involved in the scam including banks, or others that
moved money, investment companies that introduced you to the fraudster or
employed him and media outlets that advertised or promoted the fraud. You can
even sue foreign governments that protect scam artists and cover up their
activities.
There are several reasons why investors and other victims should sue scam
artists and those who help them. They include:
• Authorities do not always prosecute con artists. Such cases can be
expensive and complex and simply too costly for prosecutors to touch.
Such cases can also be hard to win.
• The standard of proof in civil court is much lower. It is often easier to
prove a fraud case in a civil lawsuit than in a criminal prosecution.
• The criminals and those who help them will have to use their money to
hire lawyers to defend themselves in a civil case.
• Lawsuits can result in public exposure of fraud artists and their enablers.
A recent example is the case of a group of investors in an Abu Dhabi
insurance company. They lost $18 million to fraud and were not able to
get the UAE government take action. They were able to generate a lot of
negative publicity by hiring New York attorney Howard Fensterman to
sue in U.S. Court those they said were responsible. Something to
remember is that any records from a civil action are public record, so the
press has a right to report them.
• It is entirely possible that you will win at least part of your money back.
Persons who sued the brokerage, Securities America, after its brokers sold
investments in pyramid scams were able to get $150 million in judgments
against the brokerage.
• Other actions may result. Ameriprise Securities America’s owner was so
embarrassed by the lawsuits it decided sell its subsidiary even though
Securities America had been making record profits.