Financial crime includes any offence relating to a financial market or to handling the proceeds of crime. Acts such as fraud and dishonesty, misconduct, or misuse of information falls under the scope of financial crime. The global value transfer system is abused by financial crime. As such, the unlawful conversion of property from one owner to the other has a negative impact on the confidence in the financial system. The crime is mostly attributed to organized criminals who seek to maximize their profits for self-enrichment at the expense of their victims. Victims of fraud and financial crime not always have the financial means to fight for their justice. Therefore, many scams stay hidden, financial loss is taken and criminals stay untouched. Yet, by collective action, victims of fraud and financial crime can take action against the culprit.

A wide variety of financial crimes directly affect consumers and other investors. In large-scale global fraud, bank failure and investment fraud, money and intangible assets are often hidden in tax havens behind a web of offshore shell companies to subordinate the rightful owners. Individual action to ‘follow the money’ in different jurisdictions requires knowledge of the respective legal systems and local customs. Collective action limits the costs of such an operation and allows for loss recovery in different jurisdictions where assets are hidden. The novice and small investors often take their losses, while sophisticated professionals take action, possibly assisted by litigation funders. A collective claim enables smaller investors to benefit from a similar approach as its experienced and professional counterparts.

Legal Floris LLC groups victims of bank failures, (investment) fraud and financial crime to ensure strong and collective action. Such collective action is tailored to the specific needs of the group and aims to indemnify creditors who get directly and indirectly duped by fraud and financial crime. Our actions combine traditional liquidation efforts with other alternative means to maximize the outcome for our clients. Since we cannot predict upfront which measure will be most successful, we combine efforts and collaborate with other professionals in an extensive and tailored recovery plan.