Allegations of criminal fraud have been more prominent in the news lately, such as regarding alleged fraud on Wall Street or in such organizations as FIFA, the world soccer organization. I’m a New Jersey white collar crimes lawyer and I can explain the details of what constitutes acts of “fraud” and what defenses can be used to combat the allegations.
What Is Fraud?
If a person uses deception to embezzle or steal various forms of property, including money from others, it is considered fraud. I, as a New Jersey white collar crimes lawyer know that when the state or government allege fraud there is usually an allegation of intentional misrepresentation of one form or another by the alleged perpetrator. Additionally fraud can occur if vital information isn’t provided regarding the product or offer.
Various Forms of Fraud
There are numerous forms of fraud. The following are different acts that are classified as fraud:
With the increasing number of ways in which a person makes his or her personal information available, identity theft is becoming more common. Stealing a Social Security number or other important pieces of identifying information is a form of identity theft. Stealing banking information or credit card numbers is also identity theft.
There are federal laws against the use of the mails to commit fraud. Mail fraud allegations can apply to shipments made through the US Postal Service or any other mail carrier, such as UPS or FedEx, and such charges carry potentially severe penalties, including up to 20 years in prison for each count of mail fraud.
After Bernie Madoff committed what was said to be the largest Ponzi scheme in the history of the United States, it became well-known as the epitome of such a scam where many victims lose their entire life savings. Named for a thief from Italy who operated in the 1920s, the idea is that investors are attracted by the promise of a safe investment and big returns. As more and more investors join and provide money, the operators of the scheme will take a portion of the money and use the rest to make “lulling” payments to the investors who came in earlier. This type of scam is destined to eventually collapse under its own weight as the scammer runs out of people who will join while simultaneously being unable to provide enough money to keep the current investors from becoming suspicious.
Contact an Experienced New Jersey White Collar Crimes Lawyer
If you have been accused of some type of criminal fraud, including any of the above-listed acts, it is imperative that you immediately begin preparing a strong defense. Call me, an experienced New Jersey white collar crimes lawyer, at (732) 212-2812. I can help.