Arizona Currency Schemes Lawyer
There is a speculative nature to currency trading because it is high-risk and fast-paced. In a way, it can give an investor quite the rush because the currency market is changing practically every second. It is a market that operates 24 hours per day and it is quite volatile. It also leaves room for fraud because the Foreign Exchange (Forex) Market is lax in the area of regulation.
Overall, this is a form of trading that can produce big winners and there can be big losers. Advisors, brokers, and other professionals tend to be accused of fraud and other crimes in this arena as well. If you find that you are under investigation for a currency scheme, you need to make sure you contact Myles A. Schneider immediately so that work on defending you in the matter can begin as soon as possible.
It seems that most currency schemes involving Forex have come out of the retail Forex sector. The players involved are independent brokers that are not a part of any major financial institution. Any time a person is dealing with retail Forex, the broker’s structure should be highly transparent or the broker can be easily accused of some kind of wrongdoing when no wrongdoing was ever committed. Some clients can simply take large gambles and this can result in them suffering major losses. If it even appears that the broker engaged in questionable activities, they can be charged with some kind of currency scheme.
While the National Futures Association and the United States Commodity Futures Trading Commission oversee Forex trading, there are no cross-border agencies. Each country has its own agency. Because Forex trading involves foreign currency, there is a gray area that is not regulated at all and this is where a lot of risk hides. In a way, it makes this incredible form of trading seem primitive in that it is left wide open for schemes and for accusations of schemes.
Arizona Federal Criminal Defense
If you are charged with a currency scheme, you will find yourself having to face a judge in one of the federal courthouses in the state. But whether you are standing in a Phoenix or Yuma federal courthouse, you do not have to face the charges alone. Myles A. Schneider is highly knowledgeable in the area of Forex and the various currency schemes that exist. He is also knowledgeable on how to help you not have to serve any prison time at all or very little. The goal is to achieve the proper outcome with the maximum penalties being out of the question.
Contact A Phoenix Currency Schemes Attorney
Being accused of a currency scheme ranks up there with other types of financial fraud. This could mean high fines and a lengthy prison sentence, depending upon how many individuals were affected and the amount of money involved. Accusations also happen due to misunderstandings, which is important to prove if that is the case. Either way, you deserve the best defense possible, so call us at 602-926-7373 to schedule a free consultation.