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Protecting Ohio Investors from Securities Fraud
When you’ve lost money due to broker misconduct or investment fraud in Ohio, you need an experienced Ohio investment fraud lawyer who understands both state securities regulations and FINRA arbitration procedures. At Patil Law, P.C., we specialize in helping Ohio investors recover losses caused by financial advisor misconduct, securities fraud, and investment schemes.
Since our inception, Patil Law, P.C. has recovered over $25 million for clients nationwide, with significant recoveries for Ohio investors in Cleveland, Columbus, Cincinnati, and throughout the state. Our firm brings the specialized knowledge in securities law, FINRA regulations, and investment fraud that Ohio residents need when facing devastating financial losses.
Investment Fraud in Ohio: Understanding Your Rights
Investment fraud occurs when financial professionals use deceptive or manipulative practices that cause investors to lose money. In Ohio, we’ve seen concerning patterns of investment fraud targeting various communities:
- Affinity fraud schemes targeting religious and community groups across Ohio
- Unsuitable investments recommended to Ohio retirees with conservative investment needs
- Ponzi and pyramid schemes devastating investor communities in Cleveland, Columbus, and Cincinnati
- Excessive trading generating commissions at the expense of Ohio investors
- Misrepresentation of complex investments to Ohio families planning for retirement
Example Scenario: A broker in Columbus convinces an Ohio manufacturing worker approaching retirement to move their 401(k) into high-commission alternative investments, misrepresenting the risks while promising unrealistic returns. When the investments collapse, the investor loses their retirement security after decades of hard work.
How an Ohio FINRA Lawyer Can Help Recover Your Losses
When you hired your financial advisor or broker, you trusted them to act in your best interest. Unfortunately, many financial professionals in Ohio breach this trust through negligence or deliberate fraud. As experienced Ohio FINRA lawyers, we understand how to navigate the complex arbitration process to help recover your investment losses.
FINRA (Financial Industry Regulatory Authority) provides a specialized forum for resolving disputes between investors and financial professionals. As your Ohio FINRA attorney, we will:
- Conduct a thorough investigation to identify all instances of misconduct
- Document violations of Ohio securities laws and FINRA regulations
- File and prosecute your FINRA arbitration claim
- Negotiate settlements when appropriate to recover your losses
- Represent you at hearings before FINRA arbitration panels
Many Ohio investors don’t realize that they’re typically required to resolve securities disputes through FINRA arbitration rather than Ohio courts. Having an experienced Ohio FINRA lawyer representing your interests is critical to navigate this specialized process successfully.
Common Types of Investment Fraud Affecting Ohio Investors
Our Ohio investment fraud attorneys regularly handle cases involving:
- Unsuitable investment recommendations that don’t align with Ohio clients’ risk tolerance and financial goals
- Breach of fiduciary duty where advisors place their interests above Ohio investors
- Material misrepresentations about investment risks and potential returns
- Excessive trading (churning) to generate commissions at Ohio clients’ expense
- Failure to diversify portfolios to protect Ohio investors from market volatility
- Selling away where brokers sell investments not approved by their firms
- Ponzi and pyramid schemes targeting Ohio communities
- Elder financial abuse targeting vulnerable seniors in Ohio retirement communities
If you’ve experienced significant investment losses in Ohio, don’t assume it’s simply due to market conditions. Many losses result from actionable misconduct that an experienced Ohio investment fraud lawyer can help address.
Preston L. (attorney)
Joan P. (attorney)
Why Ohio Investors Choose Patil Law, P.C.
When Ohio investors face investment losses, they need a law firm with specialized expertise in securities law and FINRA arbitration. Patil Law, P.C. brings unmatched experience to these complex cases:
Meet Chetan Patil
Chetan Patil is the founder and Managing Partner of Patil Law, P.C.. He brings over 15 years of extensive experience in diverse complex disputes and transactions across the country. Mr. Patil specializes in litigations, trials, arbitrations, and appeals of complex securities, FINRA, financial and business disputes, with an emphasis in securities, financial services, and financial regulatory law.
Few attorneys have the depth and breadth of his legal experience and judgment. He has handled and overseen well over a thousand litigation and arbitration cases in Federal and State Courts and arbitration forums across the country. Chetan has represented defrauded investors, family trusts, family offices, public and private companies of all kinds (including banks and other financial institutions), broker-dealers, registered investment advisors, advisory firms, and securities brokers.
Chetan’s vast trial and arbitration experience includes business, securities, and financial fraud; breach of contract; real estate transactions and disputes; employment disputes; unfair competition; noncompete and restrictive covenant cases; and intellectual property disputes including copyright and trademark infringement. He is a highly experienced and respected litigator as well as an effective negotiator.
Mr. Patil began his career at a large (over 150 attorneys) Midwestern law firm. He then was recruited to a senior litigation position at Cetera Financial Group, one of the largest brokerage firms in the United States, with over $115 billion in assets under management as of 2022. In this role, he managed internal attorneys, external legal counsel, significant regulatory matters, and significant legal matters with exposure exceeding $1 million. On average, he would be responsible for an annual litigation portfolio of approximately $20 million.
This insider perspective gives our Ohio clients a significant advantage when pursuing FINRA claims against major financial institutions.
Signs You May Be a Victim of Investment Fraud in Ohio
Ohio investors should watch for these warning signs of potential investment fraud:
- Unexplained drops in account value
- Unauthorized transactions appearing in your statements
- Excessive or frequent trading activity
- Investments that don’t match your stated objectives and risk tolerance
- Over-concentration in a single investment or sector
- Promises of guaranteed returns or “risk-free” investments
- Pressure to act quickly on investment opportunities
- Difficulty withdrawing funds from your account
- Missing account statements or confirmations
- Investments not registered with the Ohio Division of Securities
If you notice these red flags, contact an Ohio investment fraud lawyer immediately to protect your rights.
The FINRA Arbitration Process for Ohio Investors
Most investment agreements contain mandatory arbitration clauses that require disputes to be resolved through FINRA rather than Ohio courts. The FINRA arbitration process typically involves:
- Filing a Statement of Claim detailing the misconduct and your losses
- Respondent’s Answer where the broker/firm responds to allegations
- Arbitrator Selection choosing the panel who will decide your case
- Discovery exchange of relevant documents and information
- Pre-hearing Conferences to address procedural issues
- Evidentiary Hearing similar to a trial but less formal
- Final Decision which is binding and difficult to appeal
As experienced Ohio FINRA lawyers, we navigate this complex process on behalf of our clients to maximize their recovery potential.
Ohio Securities Laws and Investor Protection
Ohio has specific securities laws that provide additional protections for investors beyond federal regulations. The Ohio Securities Act (Ohio Revised Code Chapter 1707) regulates securities transactions within the state and provides remedies for investors who have been defrauded.
Our Ohio investment fraud attorneys leverage both state and federal laws to build the strongest possible case for our clients. We work closely with the Ohio Division of Securities when appropriate to address fraudulent investment activities affecting Ohio residents.
Serving Investors Throughout Ohio
Patil Law, P.C. represents investors across Ohio, including:
- Cleveland
- Columbus
- Cincinnati
- Toledo
- Akron
- Dayton
- Canton
- Youngstown
- Parma
- Lorain
- Hamilton
- Springfield
- Kettering
- Elyria
- Lakewood
- And all surrounding communities
Don’t Wait to Protect Your Financial Future
If you’ve suffered investment losses in Ohio, don’t delay seeking legal advice. FINRA claims are subject to strict time limitations under both FINRA rules and Ohio securities laws. Waiting too long can permanently bar your right to recovery.
Contact Patil Law, P.C. today for a confidential consultation with an experienced Ohio investment fraud lawyer. We’ll evaluate your case, explain your legal options, and develop a strategy to help recover your investment losses.
FINRA ARBITRATION REPRESENTATION FOR OHIO INVESTORS
Contact our office today at 800-950-6553 or click here for a free consultation.