How is it possible for a person to be indicted on 162 counts of frauds and still not be jailed?

Question

Alan and Joanne Schneider of Middleburgheights, OH have been indicted of fraud using 1400 investors monies to line their own pockets and yet those of us affeccted by this misjustice have no recourse. We can not even deduct our ivestment loss from our income taxes. Well that is not entirely true we may deduct 3000.00 per year, at that rate I will be 192,000 years old before I recoup mine.

How does the judicial and tax system let this happen?
One investor committed suicide and another attempted a murder-suicide. The investors are virtually left with their hands tied and no recourse.
Our judicial system needs a serious revamping!!!!!!!

Answer 1

192,000 x 3,000 = 576,000,000

If I had 576-million dollars invested---I would diversify. I would have broadened my portfolio so that all of my eggs were not in one basket. That could have saved you millions and millions of dollars.

Obviously, we need more aggressive laws, these types of things are becoming more common.

Answer 2

Shelley R beat me to the answer. I can't believe anyone with 1/2 a billion dollars invested all of it in one place AND fell for a scam. If any crook got their hands on that much money, they would not be around to be indited. This is also a legal question, not a tax question. Perhaps your lack of research explains why they were able to rip you off.

BTW, if the defrauded 1400 investors, why only 162 counts of fraud?

Answer 3

you are able to in basic terms be tried as quickly as for a given incident with the help of a given sovereign. you ought to be tried two times for an identical crime if committed it on greater beneficial than one occaision, or in case you comitted it in numerous states so as that countless states have jurisdiction. An indictment, even with the undeniable fact that, isn't an ordeal. you will possibly nicely be indicted distinctive circumstances for an identical incident. generally that is finished to suitable suited or upload to costs merely before trial.

Answer 4

These types of frauds are becoming more common and after alot more people loose money the courts may do something. We have the same problem in Canada

Answer 5

you are mistaken . to be indicted just means that they are accused and there is some evidence to make them stand trial. it does not mean they are guilty. that has to be proven beyond a reasonable doubt in a court with a jury of their peers and adequate representation.
if by indicted you mean tired and convicted, then please be aware that the criminal courts punish but cannot demand restitution because they have no way to enforce it. thy are not bill collectors
it is up to the victim to go to civil court to get a judgment award and collect it. the criminal court tries cases and can send you to prison but cannot attach your wages etc like a civil court order can.
it is easier to win in civil court because the burden of proof is lower (need not show beyond a reasonable doubt.) so it is up to you to sue them to get your money back. if they are in jail it is harder to get their wages as they have none, but maybe their bank accts or homes ,other assets etc can be attached , The judgment is good for ten years and can be renewed each decade and adds intertest until you collect , maybe at the grave from their estate.
you can will the judgment to your heirs.
do not delay suing or the statute of limitations will expire and its too late. get the judgment now and collect later. its all you can do.


the courts cannot protect you from fraud, before it occurs. you need to hire attorneys to advise you or get better financial advice to protect yourself BEFORE you invest ( there is a sucker born every minute)
sorry for your loss.

Answer 6

I agree! They should be in jail!!!