I was an investor in a ponzi scheme. I lost six figure numbers when the head of the scheme was arrested and jailed and has stated that he spent all his investor’s money playing in high stakes commodities trading. I was referred to this man by my accountant. Do I have any potential claims against this accountant?
If the accountant recommended the investment with knowledge that it was a fraudulent scheme and assisted the perpetrator in promoting or handling the funds invested or the process of making the investment, there may be a cause of action for “aiding and abetting fraud”, which is a common law civil claim, controlled by state law. A defrauded investor can bring a personal claim, or there may be instances where a class action claim has been filed, most often in Federal Court, where those interests and losses may already be a part of the claim, and the investor a member of the class bringing the case.