Have you lost money in a Cryptocurrency Fraud? Giambrone & Partners' financial litigation lawyers can help.

It cannot be denied that the financial markets globally are currently going through some of the most turbulent times experienced in recent years. The financial consequences of the global pandemic reached across all parts of the world leading to far greater volatility, especially visible in the relatively new cryptocurrency market.

Cryptocurrency first arose in 2009; the founders are shrouded in secrecy, with bitcoin being the first established cryptocurrency, It rapidly gained ground as a decentralized and encrypted currency, with a sharp divide as to how it is regarded, either the future of money or an intangible online currency to which a monetary value cannot be assigned.

Giambrone & Partners’ banking and financial fraud litigation lawyers point out that in cryptocurrency litigation, such as bitcoin, was developed and designed with anonymity and lack of regulatory control; it has now become an attractive medium for criminals to target their innocent victims.  Many of our clients have been defrauded in cryptocurrency frauds.  Now more than ever, with inflation reaching for the sky and inflation rates rapidly climbing, novice investors deceived in crypto and other types of investment frauds demand that litigation aimed at the enablers and others with culpability for the fraud should be undertaken to make them accountable.

Joanna Bailey, who head the banking and financial fraud litigation team commented “whilst cryptocurrency may be a recent innovation the frauds and scams that surround it are most certainly not. Novice investors are persuaded to part with their money through a variety of methods.  Including romance fraud and by celebrity influencers on social media who are paid by the fraudsters to promote their frauds in what are known as a “pump and dump” schemes where misinformation is spread to encourage people to invest in schemes and tokens with no value.” Joanna further pointed out, “in a speech to he gave to an economic crime symposium, Charles Randell of the Financial Conduct Authority (FCA), particularly mentioned that fraudsters are paying celebrities to assist them in their crimes by promoting the fraudulent investment schemes. Novice investors trust the recognisable celebrities and often believe that the individuals would only involve themselves in honest schemes.  Other third-party enablers such as banks, regardless of the fact they are no part of the fraud, when found to be culpable are held to account, we would not hesitate to embark on litigation to compel them to provide compensation to our clients. There is a legal case to be made against celebrity influencers, and increasingly notable media personalities are becoming the subject of litigation due to their promotion of fraudulent crypto schemes”

The difficulty in pursuing legal cases involving the cryptocurrency market is, in part, due to its unregulated status.  The lawyers in Giambrone & Partners’ banking and financial fraud litigation have successfully developed a tough strategy that provides for the restoration of our clients’ funds lost to cryptocurrency scammers.  Our lawyers a fully aware that clients defrauded in cryptocurrency scams are not protected due to the fact that the FCA has no regulatory oversight with regard to cryptocurrency.  However, the marketing of crypto assets must adhere to the Advertising Standards Authority (ASA) guidelines, including the social media platforms. 

Our lawyers continue to expand the litigation strategies to recover our clients’ money lost in crypto assets fraud, developing new litigation techniques and adapting to match the agility of the fraudsters.

Joanna Bailey heads the banking and financial fraud team she advises international and UK-based clients in a range of financial services disputes.  Joanna is highly regarded for her meticulous approach and her persistence when investigating international fraud. Her considerable experience and dogged pursuit frequently leads to the successful recovery of funds for clients.  Joanna has enjoyed a substantial level of recovery for our clients, often in cases that did not predict success

If you believe you have been caught in a cryptocurrency fraud and would like to know more about Giambrone & Partners’ approach to litigation aimed at recovering funds, please contact Sam Groom Joanna’s clerk on SG@giambronelaw.com  or please click here