White collar crimes tend to be more convoluted than most violent crimes and are therefore more difficult to prosecute. They involve in-depth investigations and usually a paper trail that winds itself through numerous bank accounts in the form of different types of transactions hidden behind aliases and sometimes shell corporations.
The ultimate goal of all types of white-collar crime is to make money for the perpetrator.
Securities fraud is a type of white collar crime that takes place when someone makes a false statement about a business or the value of a stock and others make financial decisions based on that inaccurate information. More specifically, it is employing a scheme or a device to defraud, make an untrue statement about a material fact or engage in a practice or a course of business that operates, or would operate, as a deceit or fraud upon another person. Security fraud charges can be second-degree felonies which are punishable by up to 10 years in prison and a $1 million fine. A first-degree felony charge is punishable by up to 20 years in prison and $5 million fine.
Activities undertaken by either an individual or a company that are carried out in a dishonest or illegal manner and are designed to give an advantage to the perpetrators are called corporate fraud. For example, the corporate officers decide to use an accounting scheme to hide the amount of debt a company has in order to make it appear better off financially than it really is.
Insider trading is when someone with confidential information about a company’s inner workings uses that knowledge to make decisions about buying or selling a stock and discloses that information to the public. Market manipulation is a deliberate attempt to compromise the free and fair operation of the market. It is creating an artificial, fake or misleading façade with respect to the price of, or market for, currency, security, or a commodity.
Being charged with any of these crimes can devastate you personally, professionally, and financially. Your assets may be frozen by the government. You may be required to repay the money stolen. Your neighbors and friends may turn from you, cutting off relationships with you. Worse, your entire family will suffer the shame and abuse. Your experienced and dedicated Pittsburgh criminal attorney will work with you to get you the best outcome possible, but to do this, he requires you to be open and honest with him.
If you have been charged with fraud or any white collar crime in or around the city of Pittsburgh, you will need an experienced criminal defense attorney. The Logue Criminal Defense team serves Pittsburgh, PA, and the surrounding areas, including West Virginia and Ohio. To get in touch and schedule a free initial consultation with an experienced Pittsburgh Criminal Defense lawyer from Logue Law, call us today at 1-844-PITT-DUI or 412-389-0805. Or, you can contact us online.
Don’t wait to call! The longer you wait to hire an attorney, the more difficult it becomes for him or her to get a good outcome for you and your case. Call today!