Free Court 15 - Investment Fraud on Wall Street with Former LA Deputy District Attorney John Lawrence Allen

Securities litigation attorney John Lawrence Allen helps recover investor funds lost through investment fraud or incompetence. John is a former Los Angeles Deputy District Attorney and author of “Make Wall Street Pay You Back.” Jason Hartman and John Lawrence Allen talk about Wall Street dirty tricks plays and how average people can protect themselves from Wall Street.

Allen also gives some tips for investors before they invest a large sum of money with an advisor or hedge fund. He also shares how financial advisors can mitigate their risk of fraud.

Key Takeaways:

(2:20) John Lawrence Allen: background and history of latest book
(3:06) How Wall Street and the investment landscape have changed over the last 20 years
(4:06) On the arbitration process
(7:34) On the laws not being in favor of the consumer
(11:13) Causes of action: fraud, incompetence, etc.
(16:00) The extraordinarily high commissions on life insurance sales
(18:11) How does the investor know what fees are being assessed by financial advisors?
(21:08) The length of the FINRA arbitration process
(21:55) On “simplified arbitration” for small claims
(23:58) Discussion of other types of fraud, beyond incompetence and excessive commission
(29:20) Discussion of a managed future deal Jason was pitched on
(32:30) Some tips on buying gold: always invest in bullion, never numismatic coins
(37:12) Who claims are usually made against
(38:42) Jon Corzine, MF Global, & the Insider’s Game
(43:19) Bad monetary policy forces people to take inappropriate risks

Websites:

www.MakeWallStreetPayYouBack.com
Make Wall Street Pay You Back on Amazon
www.myinvestorfraud.com