Ponzi Scam Attorneys

Did You Suffer Investor Losses While Working With Barred Osaic Wealth Broker Marat Likhtenstein?  Our Ponzi Scam Attorneys Are Looking Into Allegations of a $1.24M Fraud

Shepherd Smith Edwards and Kantas Ponzi Scam Attorneys (investorlawyers.com) are looking into allegations that ex-Osaic Wealth financial advisor Marat Likhtenstein stole $1.24M from clients in an alleged Ponzi scam. We are offering a free, no-obligation case assessment to former customers of this now-barred New York broker who suffered serious losses.

Likhtenstein, who worked in the industry for 30 years, was an Osaic Wealth registered representative from 2018 to 2024 when the firm fired him after he allegedly did not disclose personal loan transactions with a client. He was permanently barred by the Financial Industry Regulatory Authority (FINRA) that same year.

On March 23, 2024, Likhtenstein was arraigned in Brooklyn Supreme Court after being charged with multiple counts of grand larceny, fraud, and violating New York business law. This came after the ex-NY stockbroker and investment adviser issued promissory notes to clients while promising high return rates that included 20% through the notes. Instead, he allegedly stole money from these investors in a fraudulent scam. Lichtenstein is accused of using the funds to pay for his own personal expenses and issue partial payments to earlier victims in Ponzi scheme-like fashion.

In addition to being a FINRA-licensed financial advisor, Likhtenstein was registered to sell securities and insurance products through his Likhtenstein Financial Planning.

Why Explore Your Legal Options If You Have Been The Victim of a Ponzi Fraud Involving a Broker?

In a Ponzi fraud, early investors are paid funds from later investors as opposed to receiving legitimate returns. This type of scam tends to promise unrealistic high returns while touting little to no risk. Ponzi schemes inevitably fail when too many existing investors ask for their money back or it becomes hard to find new investors.

Unfortunately, there are legitimate financial advisors that will operate a Ponzi scam. When this happens, victims may be able to sue the broker and/or their broker-dealer, which failed to recognize and/or stop the investment scheme from happening.

Brokerage firms have a duty to properly supervise their registered representatives and their activities in customers’ accounts. A failure to fulfill this obligation, which can enable unsuitable recommendations, misappropriation, investment scams, selling away, and more, can be grounds for a FINRA lawsuit to recover your losses.

Trusted Ponzi Fraud Recovery Law Firm

Shepherd Smith Edwards and Kantas Ponzi Scam Attorneys have been fighting for investors against broker-dealers and investment advisers for more than 30 years. We know how to hold financial firms labile and how to maximize an investor’s chances for a full recovery.

More than 90% of our clients have received full or partial financial recovery through our skilled efforts. Call (800) 259-9010 or fill out this form.