If you are a business owner, then it is quite natural to worry about what would the impact be if your company faces financial losses and the news becoming public knowledge. Yet, if you are a part of a public company and attempt to control its financial data in order to protect your job, or you betray investors, then you are at risk of committing accounting fraud.
Leading federal agencies like that of the Securities and Exchange Commission usually investigate the financial statements of a company for quite some time prior to the prosecutors going ahead with an accusation. Once they have the evidence against you in hand that will result in your conviction, they will bring charges against you swiftly. You will have to face a prosecutor who has damaging evidence. The best thing you can do in this situation is to consult a professional and experienced Pittsburgh accounting fraud lawyer at Logue Law Group. In fact, your search for a good criminal defense lawyer will end with us.
What Exactly is Federal Accounting Fraud?
You may have heard the term “federal accounting fraud,” yet you may not be aware of what it is or what may be its consequences. Well, in simple terms, it is when information related to finances is presented in a deceptive way or manipulating the numbers of your company in a misleading way.
If you happen to mislead in any way you will definitely have to pay for your deeds. In fact, you will be put behind bars for accounting fraud. Some of the common examples of such fraud include inflating income and assets, hiding bonuses or executive gifts, hiding assets for avoiding taxes, representing liabilities less than they are, representing expenses less than they are, representing losses less than they are, and reporting sales when they are not completed amid others.
If you are convicted of such fraud, chances are you will be imprisoned or be subject to fines. Violating the security laws intentionally can put you behind bars for a period of 20 years and provide a fine amounting to $5,000,000. In the case of a corporation, they can be fined about $25,000,000. However, if you consult an accounting fraud attorney in the Pittsburgh area, you may be able to reduce or avoid these penalties.
An experienced Pittsburgh criminal defense attorney, like the ones at Logue Law, have a list of defenses that can be used in accounting fraud cases. Depending on the facts of your case, he will first look at the definition of the charge, and determine if your actions fit it. He can cause reasonable doubt in a jury by casting doubt upon specific aspects of the prosecutor’s case against you. He may, depending upon the specifics of your case, raise an affirmative defense.