A financial crime is a form of theft of large sums of money or property by exploiting systems that administer or manage property or funds. It is a non-violent offense committed by an individual or corporation and results in a financial loss to an individual or corporation. Due to the severity of the offense, the consequences for committing federal financial crimes include the possibility of incarceration. If you have been charged with a federal financial crime, reach out to a DC federal financial crimes lawyer. A determined federal defense attorney could fight for a positive outcome for you.
As a DC federal financial crimes lawyer may explain, federal crimes are grouped into several categories because there are certain ways a federal court can be involved when a case is heard in federal court. There have been allegations of many different types of offenses over the years in Washington, D.C. such as tax fraud offenses, real estate fraud offenses, embezzlement offenses from schools or companies, and money laundering offenses.
These kinds of charges are commonly alleged in the District because it is the home of large government, contracting firms, and government contractors. There are lots of government procurement fraud type offenses are brought as well.
Wire fraud is a type of financial fraud that is accomplished through the use of telecommunications or information technology. Information is sent electronically over a wire through a financial transaction, telephone, computer, or telegraph signal.
Real estate fraud can also be committed electronically. Sometimes electronic communications are sent out from one state to another and the case may be heard in federal court when fraud is alleged. For example, real estate fraud may involve multiple closing documents being faxed from one state to another with material omissions or misstatements intended to defraud someone. That may constitute wire fraud in the real estate context.
Mail fraud is a plan to deprive a person of their property, money, or services using the U.S. Postal Service or a commercial interstate mail carrier to carry out the crime. It is another way a case gets into federal court when financial crimes are involved. As an example, someone writes bad checks and mails them from one state to another. Offenses may involve wire fraud, mail fraud, stocks or securities. Examples are health care, embezzlement, credit card fraud.
Many agencies have jurisdiction to investigate financial crimes. An investigation might start with the Inspector General’s Office at an agency and from there, it may spread to the FBI. The IRS has jurisdiction over anything that involves tax violation.
When someone is alleged to have committed a financial crime or is alleged to have not declared ill-gotten gain on their tax return, the IRS has jurisdiction. The U.S. Postal Service may have jurisdiction when there is an allegation of a mail fraud scheme carried out through the postal service or a private mail carrier service.
The intensity of an investigation varies depending on the investigating agency. When there is an allegation, most agencies follow up appropriately and devote extensive people hours to conduct the investigation. Investigations are rarely understaffed or undermanned on the federal government side. A DC federal financial crimes lawyer could guide an individual through the investigation process and help them avoid self-incrimination.
The Securities and Exchange Commission is responsible for regulating how securities are bought, sold, traded, and marketed. It is a powerful agency with a broad range of investigative power.
The SEC often begins an investigation and sometimes, there is a parallel investigation. The SEC is a civil investigative body and does not bring criminal charges. It investigates civilly and, depending on what is uncovered during an SEC investigation, the investigation may quickly become a federal criminal investigation. When someone is alleged to have violated SEC rules, it is important that they have a criminal defense lawyer involved to monitor the investigation and be aware of the potential criminal liability.
If you have been charged with a financial crime, consult a DC federal financial crimes lawyer. A capable criminal defense attorney could get your account of what happened, conduct their own investigation, and collect the necessary evidence to build your case. Work with an experienced legal advocate that could fight for you.
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