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Illionois defense attorney,  Illinois criminal defense lawyerWhite collar crimes are non-violent offenses that are typically committed for financial gain. Embezzlement, securities fraud, money laundering, and insider trading are all common examples of white-collar crimes. The FBI aggressively investigates these crimes and federal prosecutors are always very eager to secure a conviction in these cases. Although white collar crimes do not involve violence, convictions still carry high fines and lengthy terms in federal prison.

Anyone charged with a white collar crime must work with a federal criminal defense attorney that understands the defenses for these crimes and how to use them effectively. If you are facing charges, below are the most common defenses used in these cases.

Finding Weaknesses in the Prosecution’s Case

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IL federal crimes attorney, IL ppp fraud lawyerEarlier this year, the federal government rolled out the CARES Act, which included the Payroll Protection Program (PPP). The PPP was intended to help small business owners keep their employees on the payroll during the pandemic, and help them pay for other costs, such as utilities and rent. Now, it is being learned that many large businesses, such as Shake Shack, are improperly applying for and being granted these loans. Even smaller businesses may face federal charges if it is found out that they have not been using the funds appropriately. So, what should you do if you become the subject of a PPP investigation?

What Prompts a PPP Fraud Investigation?

Since the PPP was introduced, federal agencies have stated that auditing the loans, particularly those over the amount of $2 million, will be a priority for them. An audit will likely be conducted if the government suspects that the borrower lied about owning a business so they could fraudulently obtain a loan, or the borrower was deceptive about the number of employees they have in order to secure a larger amount.

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ponziPonzi schemes have become famous after news was made of Dona Branca’s scheme, the “Double Shah” and of course, the original Charles Ponzi scheme. Still, even though Ponzi schemes often make the news, few people really understand what they are, and what is at stake if they are charged with running such a scheme. Learn more about Ponzi schemes below, what types of criminal charges are involved, and what to do if you are charged. What Is a Ponzi Scheme? Ponzi schemes are considered white-collar crimes that typically involve some type of fraud. They are not violent crimes, but they are not what some call ‘victimless’ either, because these schemes do defraud people out of their money. A Ponzi scheme will involve an investor that convinces people or groups of people to invest a large amount of money with them in the hopes of obtaining a large return on that investment. The money paid by these individuals is then distributed to others that have also been convinced to invest. The majority of the money collected from investors is kept by the person or group running the scheme. Usually, the scheme is discovered when an investor wants to cash out, but they do not receive any payments because no new investors have been brought into the scheme. Ponzi Schemes and Criminal Charges Due to the fact that Ponzi schemes typically include some type of fraud, a person may face several charges if they are suspected of running such a scheme. The most common of these include:
  • Mail fraud, if the government suspects a person used the postal office in an effort to further the scheme
  • Securities fraud, including violations of the Securities Exchange Act of 1933, and the Investment Company Act of 1940
  • Securities and commodities fraud, which involves using promises to secure money for a commodity deliver occurring in the future
A number of federal agencies may investigate suspected Ponzi schemes, depending on the nature of the offense. It is important to understand the agencies that may investigate potential Ponzi scheme cases, so you can better understand if you are under investigation. The Federal Trade Commission will investigate any scheme that involves securities and commodities fraud, while the Securities and Exchange Commission will investigate any scheme that involves securities fraud. When a suspected scheme involves a significant financial crime, the Financial Fraud Task Force may also investigate. The Task Force is composed of 94 U.S. Attorney’s Offices and 20 federal agencies that specialize in offenses involving fraud. Our Chicago Criminal Defense Lawyer Is Here to Help

Like all federal charges, the penalties for running a Ponzi scheme are harsh for those convicted. At the Law Offices of Hal M. Garfinkel, our skilled Chicago criminal defense lawyer can help. Attorney Garfinkel understands that federal prosecutors are sometimes overzealous when investigating these cases, and that innocent people are often charged. He also knows the best defenses and will use them effectively to give you the best chance of retaining your freedom. If you or a loved one has been charged, call us at 312-629-0669 or contact us online to schedule a free consultation.

Source:

https://www.justice.gov/archives/jm/criminal-resource-manual-940-18-usc-section-1341-elements-mail-fraud

Posted by on in Fraud

Illionois defense attorney,  Illinois criminal defense lawyerATM fraud is sometimes considered a state crime, but it is often charged on the federal level because banks are federally regulated and typically suffer harm as a result of the fraud. Other charges also often accompany charges of ATM fraud, including wire fraud, identity theft, larceny, bank fraud, and credit card fraud. To avoid a conviction for any of these charges, and for ATM fraud, it is always important to speak to a federal criminal defense lawyer that can help.

Types of ATM Fraud

There are many different ways to commit ATM fraud. The most common types of ATM fraud include:

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IL fraud attorney, IL counterfeit crimes lawyer, Illinois defense lawyerThe FBI has recently broken up a counterfeiting scheme involving fake iPhones and iPads. The scheme was a sophisticated one. Although the devices were fake, they contained the original International Mobile Equipment Identity numbers and serial numbers. These are nearly impossible to counterfeit and usually only appear on original products. The suspects are three brothers that now face a number of counterfeiting charges. Many people think that counterfeiting is a somewhat old crime, but stories like this show it is just as prevalent as ever. So, what are the penalties for it, and are there any defenses to these charges?

The Definition of Counterfeiting Under the Law

Under the law, found at 18 U.S.C.A., Section 471, counterfeiting is defined as intending to defraud, falsely create, forge, counterfeit, or alter any security of the United States. The term ‘security of the United State’ indicates U.S. currency. However, for a bill to be considered counterfeit, the fake must be close enough to real currency that it would fool a reasonable person.

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