DC Federal Financial Crimes Investigations

The process of investigating financial crimes can be complicated and arduous. You may not know what your rights are or how you should be conducting yourself, which is where a lawyer can help. If you want to know more about what to expect about DC federal financial crimes investigations. Speak with a qualified financial crimes attorney that could fight vigilantly in your defense.

Differences Between FBI and SEC Investigations

The FBI investigates on the criminal side; the SEC investigates on the civil side. The SEC does civil litigation and may conduct depositions by issuing requests for answers to questions through interrogatories that does not happen on the criminal side. In that sense, the SEC has a broader investigative power. When a person is accused of violating SEC rules, they may be compelled to respond to investigative tools like depositions, requests for admission, and interrogatories.

When someone refuses to answer, they can assert their Fifth Amendment rights to not answer questions. However, that may result in an adverse inference on the civil side that could result in substantial civil penalties being imposed so people do not often do that. If they answer questions, that can expose them to criminal liability. When one is involved in a civil investigation by the SEC and anticipates potential criminal liability or criminal investigation, they must be extremely cautious when doing so.

Are Subjects Notified When They Are Under Investigation?

When a federal agency conducts DC federal financial crimes investigations, they may or may not notify the subject of the investigation depending on who is doing the investigation and what the person is being investigated for. Sometimes, the individual is informed that they are a target early in the investigation to get them to cooperate in the investigation. They receive a target letter to inform them that they are the subject of a federal criminal investigation. The letter broadly identifies the area of investigation and requests their cooperation. Sometimes, there is no warning and the FBI visits their home or business with a search warrant They execute the search warrant and may try to interview the person without a lawyer.

Role of Target Letters During Investigations

Approximately 50 percent of people who are the subject of DC federal financial crimes investigations become aware of it when they are sent a target letter. The other 50 percent may become aware when a search warrant is executed at their home or business. The FBI informs them they are under investigation and takes their computers and records, and wants to talk with them. A person should never talk to the FBI if they show up their home or business. It is important to have an attorney present when speaking to agents.

Company Rights While Under Investigation

Depending on the type of company, a corporation is technically a person under the law and has rights just as a person has rights. When a company is under investigation, it may conduct an internal investigation to prevent an involved and painful federal law enforcement investigation. Companies should also hire a lawyer if they do not have one. A larger company may have general counsel who should go to outside counsel for criminal law.

Internal Investigations

Companies often do their own investigation or hire a team of lawyers to interview people at the company to uncover wrongdoing. The may report that to law enforcement to avoid prosecution of the company and might blame individuals at the company for the wrongdoing.

An internal investigation does not necessarily prevent a federal law enforcement investigation. In preparation for the likelihood that a search warrant might be executed, the company should ensure that information is duplicated so if it is taken by authorities, that does not shut the business down.

Document Preservation Programs

A document preservation program and preservation orders could be issued to make sure that no one destroys or alters any documents, or deletes the emails. When there is a federal law enforcement investigation, it is illegal to destroy documents. It constitutes a consciousness of guilt. The first step should be to get a criminal defense lawyer. A large corporation should get a team of legal experts involved to fight any federal criminal investigation.

Consulting a DC Federal Financial Crimes Attorney

As soon as someone becomes aware they are under investigation, they should hire a lawyer and not speak to anybody but that lawyer about what is going on. They should not speak about the investigation with their spouse, parents, siblings, or children. An attorney that has experience dealing with DC federal financial crimes investigations could work diligently when building a defense.