Professional Malpractice

Accountants, stockbrokers, engineers, architects and other professionals are licensed for a very good reason. Their chosen professions require not just a natural predisposition towards the craft, but also a thorough knowledge of rules, regulations and standards. Licensing not only keeps those that are unqualified to attempt to practice, but also makes sure that those entering their chosen professions will be up to the task.

Licensed professionals have the capability of wreaking total havoc when they fail to perform to the standards of their industry. Accountants, stock brokers, bankers and real estate agents are all professionals whom many of us entrust to make professional decisions involving large sums of money. Engineers and architects are entrusted to design and build structures that are safe and durable. Mistakes or incompetence on their parts can not only cost a great deal of money, but also lives.

When small businesses or individuals have their trust betrayed by the negligence or incompetence of licensed professionals, the law allows for the victims to file civil suits to recover what they have lost.

Financial Malpractice

Stockbrokers: This type of malpractice is especially heartbreaking, because it often means that trusting, hard working Americans have had their savings squandered due to the mismanagement of others. Some examples of malpractice in this area include:

Misleading Statements:

When a stockbroker does not fully inform the client of all of the risks or dangers of a particular transaction.

Unauthorized Transactions:

When a stockbroker executes a trade or order without the clients express permission.

Insider Trading:

When a stockbroker buys or sells a particular stock based on privileged information. This is not only unethical, but is also a crime.

 

Accountants:

This is another example of how those whom we trust with our money need to be professional, honest and ethical. When an accountant commits an error, omits pertinent information or goes outside accepted standards or principles, and the result is a negative outcome or monetary loss for the client, this can be considered malpractice. Examples of accounting malpractice that could lead to a civil suit include:

 

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Billing Fraud:

Overstating the amount of time spent on the finances of the client. Over time, these unnecessary and false charges could add up to substantial amounts of money.

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Errors:

Negligence on the part of the accountant could lead to substantial penalties for the client.

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Misreporting:

Misrepresenting actual numbers in order to mislead the client or stockholders.

Architectural or Construction Malpractice

The design and construction of any structure or building requires diligent adherence to industry standards. Homes, buildings or bridges should not have dangerous flaws in their design or construction.

Examples of architectural or construction malpractice includes:

- Poor structural integrity of the building

- Design issues that can harm the integrity of adjoining buildings

- Construction negligence

- Failure to detect obvious flaws during inspection

- Failure to detect defects in structure

- Water seepage resulting in toxic mold

Professional malpractice cases can be very difficult, and often result in lengthy pre-trial investigations. Because of the complexity of this very specific area of the law, it is crucial to have an attorney that has a complete understanding of the law and experience in bringing these cases to trial.

In Richmond, Norfolk and the Tidewater region of Virginia, that attorney is Richard Serpe.

Richard Serpe: Justice for All

Investigating an accountant or stock broker that belongs to a high profile firm is an extremely daunting task. Similarly, investigating the actions of a powerful design or construction company can be equally challenging. With accountants, stock brokers, design firms or construction companies, reputation is everything, and they take allegations against the competence of their employees very seriously.

Richard Serpe has made a professional reputation for himself by successfully taking on some of the largest corporations in the South and Mid-Atlantic region. He has dedicated his career to fighting for people who have suffered losses due to the negligence of corporations and property owners. He has garnered a reputation among his peers as an attorney who takes on tough cases, and over twenty years of dedicated work on behalf of his clients has led to Mr. Serpe being listed among The Best Lawyers in America, as well as obtaining the highest possible peer review rating from Martindale Hubble.

If you have suffered from monetary losses due to the negligence or incompetence of a licensed professional, contact Richard Serpe for a free legal consultation today.

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Library for Professional Malpractice:

• Virginia Fraud Against Taxpayers Act   
  Description: "The Virginia Fraud Against Taxpayers Act, which mirrors the Federal False Claims Act, provides stiff penalties against those individuals and organizations that make false claims in order to receive government money." To encourage people with knowledge of false claims to come forward, the act provides rewards and incentives to anyone who does.

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Web Resources for Professional Malpractice:

• Lorandos and Associates

  Description: Lorandos and Associates specializes in litigation encompassing everything from business litigation to white-collar crime defense and employment law.