Fraudulent Scheme Crimes

What are Fraudulent Scheme Crimes?

Fraudulent scheme crimes refer to criminal activities that involve fraudulent practices or schemes conducted within specific jurisdictions. The specific names and definitions of these crimes may vary slightly in state and federal crimes, but they generally encompass a range of illegal activities aimed at deceiving individuals or entities for financial gain.

Fraudulent scheme crimes can be charged at the state and federal levels. It is also possible to be charged at both state and federal levels for the same crime.

Some Common State Fraudulent Scheme Crimes Include:

Fraud – This is a broad term that encompasses various types of deceptive practices designed to deceive others for personal or financial gain. It may involve misrepresentation, false statements, or the omission of important information.

Identity Theft – This crime involves the unauthorized use of another person’s personal information, such as their name, Social Security number, or financial account details, with the intent to commit fraud or other criminal activities.

Ponzi Schemes – These schemes involve using funds from new investors to pay returns to earlier investors. The operation appears profitable and legitimate at first, but it eventually collapses when new investments are insufficient to sustain the promised returns.

Pyramid Schemes – Similar to Ponzi schemes, pyramid schemes rely on recruiting new members and collecting their investments. The scheme’s profits are derived primarily from the recruitment of new participants rather than from the sale of goods or services.

Securities Fraud – This crime involves making false statements or engaging in deceptive practices in connection with the sale or trading of securities (stocks, bonds, etc.). It may include insider trading, manipulating stock prices, or providing false information to investors.

Mortgage Fraud – This crime involves misrepresenting or omitting information during the mortgage lending process, such as inflating property values, providing false employment or income information, or submitting fraudulent documentation.

Insurance Fraud – This crime involves making false insurance claims or providing misleading information to obtain insurance benefits. It may include staging accidents, exaggerating losses, or submitting false documentation.

Bad Check – A bad check crime refers to the act of knowingly writing or issuing a check that is not backed by sufficient funds in the account or when the issuer intends to defraud the recipient. The specific laws and penalties for bad check crimes can vary depending on the jurisdiction.

This Crime Can Include:

• Check fraud.
• Writing a worthless check.
• Check kiting.
• Passing a post-dated check.

Credit Card Fraud – This crime involves the unauthorized use of someone else’s credit card information to make purchases or obtain funds. It may involve stealing physical credit cards, identity theft, or using stolen card details for online transactions.

It is important to note that the specific laws and penalties for fraudulent scheme crimes can vary by state. The above examples provide a general overview, but the definitions and classifications of these crimes may differ depending on the jurisdiction.

State Penalties Can Include:

Imprisonment – Perpetrators of fraudulent schemes may face imprisonment if convicted. The length of the sentence typically depends on the nature and scale of the fraud, ranging from a few months to several years or even decades.

Fines – Individuals found guilty of fraudulent schemes may be required to pay fines as a form of monetary punishment. The amount of the fine can vary widely based on the jurisdiction and the financial impact of the fraud.

Restitution – Courts often order fraudsters to pay restitution to compensate the victims for their financial losses. This may involve repaying the defrauded individuals or entities the amount of money they lost due to the fraudulent scheme.

Asset Forfeiture – In cases where fraudsters have acquired assets or property through their illegal activities, courts may order the forfeiture of these assets as part of the punishment.

Probation – Instead of or in addition to imprisonment, a court may impose a period of probation. During probation, the convicted person is required to comply with specific conditions, such as regular reporting to a probation officer, restrictions on travel or activities, and the obligation to make restitution or pay fines.

Enhanced Penalties – In some jurisdictions, certain factors can lead to enhanced penalties. These factors may include the involvement of vulnerable victims (such as the elderly), the use of sophisticated methods or technology, or a history of prior convictions related to fraudulent schemes.

Some Common Federal Fraudulent Scheme Crimes Include:

Wire Fraud (18 U.S.C. § 1343) – This law prohibits the use of interstate wires, such as phone calls, emails, or electronic communications, to execute a scheme to defraud others of money or property.

Mail Fraud (18 U.S.C. § 1341) – Similar to wire fraud, mail fraud criminalizes the use of the United States Postal Service or other mail carriers to carry out a fraudulent scheme.

Securities Fraud (various statutes) – Federal securities laws, such as the Securities Act of 1933 and the Securities Exchange Act of 1934, aim to prevent fraudulent activities related to stocks, bonds, and other investment instruments. Insider trading and false statements in connection with securities are examples of securities fraud.

Bank Fraud (18 U.S.C. § 1344) – This offense involves knowingly executing or attempting to execute a scheme to defraud a financial institution, typically for personal gain.

Health Care Fraud (18 U.S.C. § 1347) – Health care fraud encompasses fraudulent activities within the health care industry, such as billing for services not rendered, kickbacks, or submitting false claims to government health care programs like Medicare or Medicaid.

Tax Fraud (26 U.S.C. §§ 7201, 7206) – Federal tax laws criminalize various fraudulent activities related to taxes, including tax evasion, filing false tax returns, or intentionally underreporting income.

Identity Theft (18 U.S.C. § 1028) – Identity theft involves the unauthorized use of someone else’s personal identifying information for fraudulent purposes, such as obtaining credit or engaging in financial transactions.

These are just a few examples of federal fraudulent schemes crimes, and there are additional laws and statutes that cover specific areas of fraud.

Federal Penalties Can Include:

Wire Fraud – Under 18 U.S. Code § 1343, the penalties for wire fraud include fines and imprisonment for up to 20 years. If the offense affects a financial institution, the maximum imprisonment term increases to 30 years.

Mail Fraud – Pursuant to 18 U.S. Code § 1341, mail fraud carries a maximum penalty of fines and imprisonment for up to 20 years. If the offense involves a financial institution, the maximum term of imprisonment increases to 30 years.

Securities Fraud – Securities fraud offenses fall under various statutes, such as the Securities Act of 1933 and the Securities Exchange Act of 1934. Penalties for securities fraud can include fines, disgorgement of profits, and imprisonment for up to 20 years.

Bank Fraud – Bank fraud is governed by 18 U.S. Code § 1344. The penalties for bank fraud can involve fines and imprisonment for up to 30 years. If the offense affects a financial institution and involves a violation of other federal laws, the maximum imprisonment term increases to 40 years.

Healthcare Fraud – Healthcare fraud can involve various activities, such as submitting false claims to Medicare or Medicaid. Penalties for healthcare fraud can include fines, restitution, and imprisonment for up to 10 years. In cases involving serious bodily injury or death, the maximum term of imprisonment increases to 20 years.

Please note that these penalties are general guidelines, and the specific penalties imposed in a particular case will depend on several factors, including the nature and scope of the fraudulent scheme, the financial losses involved, the defendant’s criminal history, and other relevant circumstances.

What Does a Fraudulent Schemes Crime Defense Attorney Do?

A fraudulent schemes crime defense attorney is a legal professional who specializes in defending individuals charged with fraudulent schemes or white-collar crimes. Their primary role is to provide legal representation and advocacy for clients who have been accused of engaging in fraudulent activities.

Here are some of the key responsibilities and tasks of a fraudulent scheme crimes defense attorney:

Case Evaluation – The attorney will thoroughly analyze the charges against their client and assess the strength of the prosecution’s case. They will review the evidence, interview witnesses, and gather relevant information to build a solid defense strategy.

Legal Advice – The attorney will provide their client with expert legal advice regarding the charges they are facing, potential consequences, and available defense options. They will explain the relevant laws, procedural aspects, and potential outcomes of the case.

Defense Strategy – Based on their analysis of the case, the defense attorney will develop a strategic defense plan. This may involve challenging the evidence, questioning the credibility of witnesses, identifying procedural errors, or negotiating plea bargains if appropriate.

Court Representation – The defense attorney will represent their client in court proceedings. They will argue motions, present evidence, cross-examine witnesses, and make legal arguments to support their client’s innocence or mitigate the charges and potential penalties.

Negotiations and Plea Bargaining – In some cases, a defense attorney may negotiate with the prosecution to secure a plea bargain for their client. They will assess the strengths and weaknesses of the case, negotiate for reduced charges or penalties, and advocate for the best possible outcome.

Legal Documentation – The attorney will prepare and file all necessary legal documents, such as motions, briefs, and appeals, on behalf of their client. They will ensure that all documentation complies with the relevant legal requirements and deadlines.

Client Support – Throughout the legal process, the defense attorney will provide support and guidance to the client. They will explain the progress of the case, answer questions, and help manage any concerns or anxieties the client may have.

It’s important to note that the specific duties of a defense attorney may vary depending on the jurisdiction and the complexity of the case. Additionally, defense attorneys may also engage in other tasks, such as conducting investigations, hiring expert witnesses, or working with forensic accountants to build a strong defense.

The lawyers at The Attorneys For Freedom Law Firm have been representing people charged with fraudulent scheme crimes in both state and federal court for over three decades. Our attorneys have the experience and knowledge to provide the best possible defense of these charges.

To schedule a Strategy Session with an experienced fraudulent schemes crime attorney, contact the Attorneys For Freedom today. We can be reached online at AttorneysForFreedom.com or by calling our Arizona office at 480-755-7110 or our Hawai’i office at 808-647-2423.