Introduction
Investment fraud represents a significant threat to the financial security of individuals and families across the nation. It encompasses a wide range of deceptive practices where investors are tricked into making financial decisions based on false or misleading information. The consequences can be devastating, often resulting in the partial or total loss of retirement savings, inheritances, or other hard-earned capital.
Common types of investment fraud include:
- Misrepresentation and Omission: When a broker or advisor provides false information or deliberately leaves out crucial facts about an investment’s risks.
- Unsuitable Recommendations: Recommending investments that do not align with an investor’s age, financial situation, risk tolerance, or investment objectives.
- Ponzi and Pyramid Schemes: Fraudulent operations that pay returns to earlier investors using capital from newer investors rather than from legitimate investment profits.
- Churning (Excessive Trading): When a broker trades excessively in a client’s account primarily to generate commissions, not to benefit the client.
- Unauthorized Trading: Making trades in an investor’s account without their permission.
- Broker Misconduct: A broad category that includes everything from negligence and breach of fiduciary duty to outright theft of client funds.
When faced with such losses, the path to recovery can seem daunting. The world of securities law is complex and governed by specific rules and procedures. This comprehensive article serves as a guide for investors who have been victimized by fraud, explaining why specialized legal representation is critical, what to look for in an attorney, and how to navigate the process of filing a claim. It also profiles some of the top investment fraud law firms and attorneys in the United States to help you make an informed decision.
Why You Need an Investment Fraud Lawyer
Navigating FINRA Arbitration
Most disputes between investors and their brokerage firms are not resolved in a traditional courtroom. Instead, they are handled through a mandatory arbitration process overseen by the Financial Industry Regulatory Authority (FINRA). FINRA arbitration is a specialized legal forum with its own unique set of rules, procedures, and discovery guidelines.
An experienced investment fraud attorney understands the nuances of this process, from drafting a compelling Statement of Claim to selecting arbitrators and presenting evidence effectively in a hearing. This insider knowledge is invaluable, as the process is generally faster and has more limited discovery than court litigation. An attorney ensures your case is presented in the most favorable light to arbitrators who are well-versed in securities matters.
The Criticality of Statutes of Limitations
There are strict deadlines for filing investment fraud claims. FINRA’s eligibility rule, for example, generally requires that a claim be filed within six years of the event giving rise to the dispute. State and federal laws also impose their own statutes of limitations, which can be even shorter. Failing to file a claim within these timeframes can permanently bar you from seeking recovery. An investment fraud lawyer will promptly assess your case, identify all applicable deadlines, and ensure that all necessary paperwork is filed on time to preserve your legal rights.
The Complexity of Securities Law
Securities law is one of the most complex and highly regulated areas of the legal profession. A successful claim requires proving specific elements, such as negligence, breach of fiduciary duty, or fraud, and demonstrating how that misconduct directly caused your financial losses. This often involves sophisticated financial analysis and a deep understanding of federal and state securities acts, FINRA regulations, and industry best practices. Investment fraud lawyers dedicate their careers to this specific niche, giving them the expertise required to build a robust case, counter the defenses of large financial institutions, and maximize your potential recovery.
What to Look for in an Investment Fraud Attorney
Choosing the right legal representation is the most important decision you will make in your fight to recover losses. Here are the key attributes to evaluate when selecting an attorney or law firm.
Experience and Specialization
General practice lawyers are not equipped to handle the intricacies of securities litigation. Look for an attorney or firm that specializes exclusively in investment fraud and securities arbitration. Their focused practice ensures they are up-to-date on the latest legal precedents and regulatory changes. Furthermore, many of the best investor attorneys are former defense lawyers for Wall Street firms. This “insider” experience provides them with a unique understanding of how brokerage firms operate, the tactics their legal teams employ, and the weaknesses in their defense strategies.
Success Rate and Track Record
A firm’s history is a strong indicator of its ability to deliver results. Inquire about their success rate and ask for examples of past recoveries. Reputable firms are transparent about their track record and often publish case results or client testimonials. While past success does not guarantee a future outcome, a consistent history of securing substantial awards and settlements for clients demonstrates competence and a commitment to winning.
Fee Structure
Victims of investment fraud have already suffered financial hardship and should not have to risk more money to pursue justice. The industry standard for reputable investment fraud law firms is the contingency fee arrangement, often advertised as “No Recovery, No Fee.” Under this model, the law firm fronts all the costs of litigation, and you only pay attorney’s fees if they successfully recover money for you. The fee is typically a pre-agreed-upon percentage of the amount recovered. Always seek a firm that offers a free, no-obligation initial consultation to evaluate your case.
Specialization and Reputation
Look for attorneys who are recognized by their peers and respected within the legal community. Accolades such as an AV Preeminent® rating from Martindale-Hubbell, inclusion in Super Lawyers lists, or membership in the Public Investors Advocate Bar Association (PIABA) are strong indicators of a lawyer’s expertise and ethical standards. Positive client reviews and a client-centric approach that emphasizes personalized attention and clear communication are also crucial. You should feel confident that your attorney understands your situation and is dedicated to your case.
Top 5 Investment Fraud Law Firms and Attorneys
Based on the criteria above, several firms and attorneys stand out for their experience, success, and dedication to investor rights. The following profiles provide a detailed look at five of the leading investment fraud practitioners in the nation.
1. Haselkorn & Thibaut (investmentfraudlawyers.com)
Background
Haselkorn & Thibaut, P.A., also known as “The Investment Fraud Lawyers,” is a premier national law firm singularly focused on helping investors recover losses. The firm was founded by partners Jason Haselkorn and Matthew Thibaut, who leverage over 50 years of combined experience in securities law. Their most significant differentiator is their background as former defense lawyers for major Wall Street investment firms. This experience provides them with an invaluable insider’s perspective, allowing them to anticipate defense tactics and build more effective cases for their investor clients.
Attorneys
Jason S. Haselkorn: A partner with over 24 years of experience, Mr. Haselkorn specializes in securities arbitration and investment litigation. His background includes serving as a senior partner in a large law firm before co-founding his own. He is also deeply involved in his community, serving as the Mayor of Juno Beach, Florida.
Matthew R. Thibaut: As a partner, Mr. Thibaut focuses on representing individual investors, with a particular emphasis on cases involving elder financial abuse. He is a respected voice in the industry, having been quoted in national publications like Forbes, and is an active board member of the Palm Beach County Estate Planning Council.
Practice Areas
The firm handles a wide spectrum of investment fraud cases, including broker misconduct, unsuitable investment recommendations, churning, Ponzi schemes, and misrepresentation. They have particular expertise in complex and alternative investments such as non-traded Real Estate Investment Trusts (REITs), private placements, and structured notes. A significant portion of their practice is dedicated to FINRA arbitration and protecting elderly investors from financial exploitation.
Recoveries and Success Rate
Haselkorn & Thibaut boasts an impressive 98% success rate in recovering money for their clients and has secured millions of dollars in awards and settlements. Their website details numerous “Real Client Stories,” including recovering several million dollars for a family who lost 90% of their assets to a fraudulent advisor and securing a multimillion-dollar recovery for a family whose inheritance was lost in a fraudulent municipal bond fund.
Testimonials and Recognition
The firm is highly regarded, holding 5-star Google ratings and rankings in the top 2% of peer reviews. Its attorneys have been recognized as “Super 100 lawyers.” They pride themselves on delivering “big firm results, boutique firm service,” ensuring clients receive personalized attention while benefiting from the firm’s extensive resources and experience.
Contact Information
Phone: 1-888-885-7162
Website: investmentfraudlawyers.com
Offices: Florida, New York, Arizona, Texas, and North Carolina (representing clients nationwide).
Differentiators
The core differentiator for Haselkorn & Thibaut is their dual experience representing both financial institutions and investors. This allows them to craft thoughtful and aggressive legal strategies. They operate on a “No Recovery, No Fee” contingency basis and offer free, confidential case evaluations to all potential clients.
2. Samuel B. Edwards
Background
Samuel B. Edwards is a highly accomplished investment fraud attorney and partner at Shepherd Smith Edwards & Kantas, LLP. With 24 years of experience in securities law, Sam Edwards has established himself as one of the nation’s foremost advocates for defrauded investors. He represents clients globally in investment and financial disputes, including retirees, financial institutions, and municipalities affected by investment fraud. His expertise spans both basic instruments like stocks and bonds, as well as complex financial products including annuities, derivatives (CMOs, IOs, CDOs, synthetic CDOs, CLOs), structured products, and hedge funds.
Practice Areas
Mr. Edwards specializes in arbitration and mediation (business, consumer, and family), stockbroker and investment fraud, and securities law with a focus on broker misconduct. He represents clients before major arbitration panels including FINRA, AAA, and JAMS, as well as in U.S. District Courts including the 5th Circuit, Central District of California, and Northern/Southern Districts of Texas.
Education and Credentials
Mr. Edwards holds an LL.M. in Securities Law & Financial Regulation from Georgetown University Law Center (2015, with honors), a J.D. from the University of Houston Law Center (2001, cum laude), and a B.A. in Political Science & Government from the University of Texas at Austin (1998). His advanced credentials in securities regulation set him apart as a deeply specialized practitioner.
Notable Achievements and Recognition
Sam Edwards has received extensive recognition throughout his career. He holds a 10.0 “Superb” Rating on Avvo (2024), has been named a Super Lawyer from 2018-2023, was selected for Lawdragon 500 Leading Plaintiff Financial Lawyers in 2022, and received the Rising Star designation from Super Lawyers in 2014. He serves as a Board Member and Past President of the Public Investors Arbitration Bar Association (PIABA) and is a regular contributor to the PIABA Bar Journal and Practicing Law Institute publications. He lectures nationally on investment dispute resolution.
Client Reviews
Client Barry M. Bordetsky stated: “I would recommend Sam to any client and caution adversaries to be prepared, as Sam and his team are always well-prepared.” His 5.0/5.0 rating on Justia reflects his commitment to excellence and client satisfaction.
Contact Information
Phone: (800) 259-9010 (Toll-Free) | (713) 227-2400
Main Office: 1010 Lamar St, #900, Houston, TX 77002
Additional Offices: Denver, Portland, Gulfport, Tampa, San Diego, Chicago, Buffalo, Dallas, New Orleans, Lexington, San Francisco
Free Consultation Available | Contingent Fees | Video Conferencing via Zoom, Skype, FaceTime
Differentiators
What sets Sam Edwards apart is his combination of advanced academic credentials in securities law (LL.M. from Georgetown), his leadership role as Past President of PIABA, and his extensive experience representing clients in complex derivative and structured product cases. His national speaking engagements and published work demonstrate thought leadership in the investment fraud space.
3. Ryan K. Bakhtiari
Background
Ryan K. Bakhtiari is a premier investment fraud and securities arbitration attorney with 27 years of experience. He is the principal of Bakhtiari & Harrison, P.C., a firm dedicated to representing investors and financial services professionals in securities matters. Mr. Bakhtiari has built a distinguished career combining active legal practice with significant leadership roles in the securities regulatory community.
Practice Areas
Mr. Bakhtiari devotes 100% of his practice to securities law. He represents clients in FINRA arbitration, state courts, and federal courts. His expertise includes stockbroker and investment fraud cases, as well as employment disputes involving financial services professionals.
Education and Bar Admissions
Mr. Bakhtiari earned his Juris Doctor from Southwestern University School of Law in 1998 and his B.A. from UCLA (1991-1995). He is admitted to practice in California (1998), District of Columbia (1999), Texas (2004), and New York (2005), giving him broad national reach.
Notable Achievements and Leadership
Ryan Bakhtiari’s leadership in the securities industry is unparalleled among practicing attorneys. His key positions include:
Chairman of the National Arbitration and Mediation Committee (NAMC), FINRA (2013-present): In this role, he helps shape arbitration policies and procedures that govern securities disputes nationwide.
Public Member of the FINRA Discovery Task Force Committee (2019-present): He contributes to developing discovery rules and procedures in securities arbitration.
President of the Public Investors Arbitration Bar Association (PIABA) (2011-2012): He led the nation’s premier organization of attorneys who represent investors in securities disputes.
Member of the Nasdaq OMX BX Arbitration Committee (2011): He served on this important industry committee.
Mr. Bakhtiari has been recognized as a Rising Star by Super Lawyers from 2005-2013 and as a Super Lawyer from 2014-2025. He has authored numerous articles on FINRA arbitration, investor rights, and employment law for PLI, FINRA, and PIABA publications.
Client Reviews
Attorney Joshua Bradford Kons reviewed Mr. Bakhtiari in January 2025: “Ryan Bakhtiari is a top investment fraud and FINRA arbitration attorney in Southern California. Highly recommended for securities matters.” Mr. Bakhtiari maintains a 5.0/5.0 rating across all categories including Legal Knowledge, Legal Analysis, Communication Skills, and Ethics and Professionalism.
Contact Information
Phone: (800) 382-7969 | (310) 499-4732
Office: 12711 Ventura Blvd, Suite 315, Studio City, CA 91604
Hours: Monday-Friday 8:30 AM – 5:30 PM
Free Consultation Available | Video Conferencing via Google Meet, Microsoft Teams
Differentiators
Ryan Bakhtiari’s unique differentiator is his unprecedented combination of active practice and regulatory leadership. As the current Chairman of FINRA’s National Arbitration and Mediation Committee, he has insider knowledge of arbitration rules and procedures that few attorneys can match. His decade of Super Lawyer recognition and his role as Past President of PIABA further cement his status as an elite practitioner in this field.
4. Christopher Harold Tovar
Background
Christopher Harold Tovar is an investment fraud attorney with 26 years of experience specializing in securities arbitration and litigation. He is the principal of The Law Offices of Christopher H. Tovar, PLLC, also known as the Securities Practice Group and “The U5 Guy™.” What distinguishes Mr. Tovar is his extensive background working within the securities industry before becoming an attorney. He was a registered representative with Morgan Stanley Dean Witter and CUNA Mutual Group, holding Series 7, 66, and 31 licenses. He also served as General Counsel and Chief Compliance Officer for Investment Professionals, Inc., a FINRA member broker-dealer and SEC-registered investment advisor from 2007-2010.
Practice Areas
Mr. Tovar’s practice focuses exclusively on securities industry litigation and regulatory issues. He represents investors seeking recovery for unsuitability, churning, failure to supervise, selling away, mishandling of incentive stock options, investment banking fraud, conversion, negligence, misrepresentation, breach of fiduciary duty, hedge fund fraud, overconcentration, and pump and dump schemes. He also represents brokers and brokerage firms in defending claims, assists brokers wrongfully terminated or with false U-4/U-5 records, handles non-solicit and non-compete disputes, and takes on SEC Dodd-Frank whistleblower cases. Since 2002, his firm has been involved in over 100 arbitrations.
Education and Credentials
Mr. Tovar earned his J.D. from the University of Michigan – Ann Arbor (1993-1995), where he was a founding member of the Michigan Telecommunications and Technology Law Review and studied at New College, Oxford University. He also holds an M.A. in History from the University of Texas at Austin (1996-1998) and a B.A. from Duke University (1986-1989), where he completed the equivalent of three bachelor’s degrees in three years. He is licensed in Michigan, Texas, Florida, New York, and Illinois, and is proficient in German, Mandarin, Portuguese, Russian, and Spanish.
Prior Industry Experience
Mr. Tovar’s industry experience includes serving as Vice President in the Legal Department at Cambridge Investment Research, Inc. (2015-2016), Counsel at Oppenheimer & Co. (2013-2015) where he successfully resolved significant FINRA arbitration claims, Managing Partner at Tovar & Cline, LP (2010-2013), and Partner at Hertz Schram, P.C. (2010-2012). His background as a former broker and compliance officer gives him unique insight into how firms operate and where failures occur.
Contact Information
Firm: The Law Offices of Christopher H. Tovar, PLLC / Securities Practice Group
Website: securitiespracticegroup.com
Headquarters: Howell, Michigan
Licensed in: Michigan, Texas, Florida, New York, Illinois
Nationwide representation through pro hac vice arrangements with attorneys in all 50 states
Differentiators
Christopher Tovar’s differentiator is his genuine insider experience. Unlike attorneys who merely studied the securities industry, Mr. Tovar lived it—as a registered representative, compliance officer, and general counsel for broker-dealers. His nickname “The U5 Guy™” reflects his specialized expertise in U-5 defamation cases and broker employment disputes. He offers a dual perspective, capably representing both defrauded investors and brokers who have been wrongfully accused.
5. Shepherd, Smith, Edwards & Kantas (SSEK)
Background
Since 1990, Shepherd, Smith, Edwards & Kantas has grown into one of the nation’s leading securities law firms with a national and international reach. Headquartered in Houston, Texas, the firm has over 100 years of combined experience in securities law and the securities industry. SSEK’s mission is to help individual and institutional investors recover financial losses caused by the inappropriate actions of investment firms and their advisors.
Attorneys
Many of SSEK’s attorneys and staff previously held positions as licensed securities brokers, including roles as vice presidents or compliance officers at major brokerage firms. This hands-on industry experience provides practical insights into how firms operate and where supervisory and compliance failures occur. Key attorneys include William Shepherd, Kirk Smith (a former Series 7 licensed stockbroker and financial advisor), Samuel Edwards (Past President of PIABA with an LL.M. from Georgetown Law), Robert Kantas, David Miller, Ryan Cook, and Tanya Edwards.
Practice Areas
SSEK handles all facets of investment fraud, including breach of fiduciary duty, churning, failure to supervise, misrepresentation, unsuitability, overconcentration, selling away, Ponzi scams, broker misconduct, non-traded REITs, financial product failures, institutional investor claims, and professional trader claims. The firm has experience with various investment products such as stocks, bonds, penny stocks, junk bonds, options, warrants, commodities, mutual funds, REITs, limited partnerships, and derivative securities.
Recoveries and Success Rate
SSEK reports that over 90% of clients who engage their services recover all or a portion of their losses. The firm has filed over 2,000 FINRA arbitrations and has handled approximately 1,000 matters in court, arbitration, and/or mediation across numerous cities in the U.S. They also represent international clients, particularly from Latin America, in claims against U.S.-based firms.
Contact Information
Phone: (800) 259-9010
Website: investorlawyers.com
Main Office: Houston, TX
Additional Offices: Dallas, Tampa, San Diego, San Francisco, Denver, Ridgway (CO), Buffalo, Chicago, Lexington, Gulfport, New Orleans, Portland
Differentiators
SSEK’s primary differentiator is the sheer scale and depth of their experience—over 2,000 FINRA arbitrations filed and more than 30 years in practice. The firm operates on a “No Recovery, No Fee” contingency basis and offers free consultations with strict confidentiality. Their international representation capability, combined with a team where many attorneys and staff are former licensed securities professionals, provides comprehensive expertise that spans the full spectrum of investment fraud cases.
How to File an Investment Fraud Claim: A Step-by-Step Guide
If you suspect you are a victim of investment fraud, it is crucial to act methodically and promptly. The following steps outline the general process for pursuing a claim.
Step 1: Document Everything
Gather all documents related to your investments and your interactions with the financial advisor or firm. This includes account statements, trade confirmations, new account forms, emails, notes from phone calls, and any promotional materials you received. Create a detailed timeline of events, from the initial investment to the discovery of the loss.
Step 2: Consult a Specialized Investment Fraud Attorney
This is the most critical step. Before you contact regulators or the firm that wronged you, seek a free consultation with a qualified investment fraud lawyer. An attorney will review your documentation, assess the viability of your claim, explain your legal options, and advise you on the best course of action. They will handle all subsequent steps on your behalf, ensuring the process is managed correctly from the start.
Step 3: Report the Misconduct (Handled by Your Attorney)
While your attorney’s primary goal is to recover your money, they will also handle reporting the fraud to the appropriate regulatory bodies. This may include filing a complaint with the SEC, FINRA, or your state’s securities regulator. It is important to understand that a regulatory complaint may lead to disciplinary action against the broker but will not, by itself, result in financial compensation for you. The recovery of your losses is pursued through a separate legal claim.
Step 4: Initiate the Claim via FINRA Arbitration
Your attorney will draft and file the necessary legal documents to initiate the claim. In most cases, this involves a Statement of Claim (a detailed legal document outlining the facts, misconduct, violated laws, and damages sought) and a Submission Agreement (agreeing to submit your dispute to FINRA for binding arbitration).
Step 5: The Arbitration Process
Once the claim is filed, your lawyer will guide you through the entire arbitration process. This includes selecting an arbitration panel, engaging in the discovery phase (exchanging documents and information with the opposing side), representing you at the final hearing, and enforcing any award granted in your favor. While many cases settle before a final hearing, a skilled attorney will be prepared to argue your case to a conclusion.
Conclusion
Discovering that you have been a victim of investment fraud can be a financially and emotionally devastating experience. However, it is important to remember that you have rights and there are established legal avenues for recovering your losses. The key to a successful outcome lies in acting quickly and securing representation from a law firm or attorney that specializes in this complex field.
By choosing an experienced attorney with a strong track record, an insider’s understanding of the financial industry, and a client-focused contingency fee structure, you can level the playing field against powerful brokerage firms. Do not delay. If you have suffered investment losses due to broker misconduct or fraud, contact a qualified investment fraud lawyer for a free consultation to understand your options and begin the process of reclaiming your financial future.
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