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Financial crimes are those crimes which do not involve physical violence, but instead are related to financial matters. In many cases, financial crimes are classified as paper crimes or white collar crimes. Financial crimes can be committed by individuals or businesses. While the general public may not perceive financial crimes to be as serious as weapons charges, sex crimes, or drug crimes, in most cases financial crimes are considered felony offenses in the eyes of the law.
The majority of financial crimes involve fraudulent conduct, wherein an individual or business sets out to, and succeeds in, deceiving and fraudulently obtaining some form of monetary gain. This can be accomplished in a variety of ways including misrepresenting one's finances, falsifying records, using inside information to buy or sell stocks, making false statements on loan applications, and more. Some of the most common types of financial crimes include: embezzlement, fraud (bank, telemarketing, insurance, securities, mortgage and investor), Ponzi schemes, insider trading, tax evasion, money laundering, RICO crimes, and others.Sacramento Criminal Attorneys: Defense for Your Charges
One crime that is often associated with financial crimes is money laundering. When money has been gained through illegal means, the money cannot be used without the risk of it being traced. In order to avoid this from happening, they may attempt to launder the money to hide the true source of the funds. The first stage of money laundering is the most risky. The money has to be deposited into a legitimate financial institution, but this is hazardous because banks are required to report large amounts of money that are deposited.
The next stage is known as layering. The money changes locations many times so that if the authorities ever attempt to track the funds, they will hopefully encounter confusion and will not be able to discover the original source. Money laundering can result in serious penalties, however, and if you have been accused of this crime you need an aggressive attorney on your side!
Reports show that one out of every three households has been the victim of a financial crime, yet less than half of those crimes have been reported. Despite this fact, convictions for financial crimes are on the rise. Current penalties include hefty fines and mandatory imprisonment, and prosecutors and lawmakers alike are striving to increase the penalties for financial crimes. If you or a loved one has been charged with financial crimes, you need to contact a Sacramento criminal defense lawyer at the firm immediately.
Don't trust your case to just any criminal defense lawyer. You need a criminal defense lawyer who has extensive experience in criminal law, and has earned a reputation as a tenacious litigator. You need Michael Wise and Wise Law Group, PC. With over 20 years of experience, including 10 years as a prosecutor, Michael has the level of expertise and commitment you need representing you.Wise Law Group, PC
Being accused of a financial crime is a serious charge, and not one to be taken lightly. Since financial crimes are primarily categorized as felonies, and handled in either State or Federal court depending on the charges filed, you need a criminal defense attorney who can aggressively defend you. Michael not only understands the in-depth investigation and prosecution process for financial crimes, he has previously been invited by the California Department of Justice to instruct law enforcement officers on such laws and procedures. Michael and the firm start by thoroughly reviewing your case, challenging any discrepancies, determining the best course of action to pursue, and building the case you deserve.