Law enforcement is cracking down on financial crimes, including PPP (Paycheck Protection Program) fraud and other Covid 19 relief fraud. It does not matter whether you are a business owner, executive, healthcare provider, construction worker or another professional, if you are under investigation or already charged with fraud, financial crimes and white-collar crime, the consequences can be catastrophic. Not only is your reputation at stake, but you could be facing exorbitant fines and significant jail time.
At Larsen Law, we handle a range of cases in State and Federal Court where clients are either under investigation or already charged. We know how the law enforcement operates and strategically respond with a well-planned defense. Contact us at (401) 218-0862 to schedule a free 15 minute consultation today.
Common Fraud, Financial Crimes and White-Collar Crimes in RI
White-collar crimes involve the use of deception to obtain an unlawful financial gain. Sometimes referred to as corporate or financial crimes, white-collar crimes are non-violent and financially motivated.
Common white-collar crimes include:
- Paycheck Protection Program (PPP) Fraud
- Economic Injury Disaster Loan Program (EIDL) fraud
- Federal Pandemic Unemployment Compensation (FPUC)
- Covid 19 relief fraud
- US Postal Service Fraud
- Antitrust crimes (when a company, for example, participates in bid rigging, monopolistic commercial activities, price fixing, etc.)
- Bank and check fraud
- Bribery
- Computer and intellectual property crimes
- Counterfeiting
- Embezzlement (when someone has obtained funds from a federally-insured financial institution through improper means)
- Environmental violations and compliance
- Export/Import violations
- Forgery
- Healthcare fraud and Medicare fraud
- Insider trading (when someone with inside knowledge of a company uses that knowledge to buy and sell stocks)
- Mail and wire fraud
- Mortgage fraud
- Money laundering (when someone disguises or conceals unlawful sources of money)
- Securities fraud
- Tax evasion
These crimes are referred to as “white-collar” because it is most often professionals who have access to large amounts of money in the course of their work and who are charged with these offenses. They are serious offenses, mostly prosecuted at a federal level in the US District Court.
Fraud, Financial Crimes And White-Collar Crime Penalties
Possible penalties for a conviction of a white-collar crime include:
- Jail
- Community Confinement / Supervised Release
- Fines
- Restitution
- Probation
Some people view fraud, financial and white-collar crimes as “victimless” and, therefore, less serious than violent or drug crimes. However, white-collar crimes often involve a breach of trust by someone in a position of responsibility. For this reason, the penalties for white-collar crimes are harsh, and a conviction can often result in a lengthy prison sentence. For example, a conviction of mail and wire fraud can result in up to $250,000 per individual and 20 years of imprisonment.
Beyond the penalties imposed by a court, a conviction for a white-collar crime can have long-term social consequences, particularly in terms of finding work. An offender may lose their professional license or be barred from working by the relevant professional association.
Common Defenses to Fraud, Financial and White-Collar Crimes
The defenses available to a defendant will depend on the specific circumstances of their case. However, common defenses often used in fraud, financial and white-collar crime cases exist.
Lack of Intent
To prove most fraud, financial and white-collar crimes, the prosecution needs to establish that the defendant intended to commit the crime. If the defendant had no intention of engaging in unlawful activity, they may be able to defend against the charge.
Entrapment
When investigating fraud, financial or white-collar crimes, law enforcement may set up an operation to try and catch suspected individuals. Although this investigative technique is allowed, law enforcement cannot coerce an individual to commit a crime. If they do, and the defendant would otherwise not have committed the act, the defendant may be able to argue the defense of entrapment.
Duress
If a defendant was forced to commit a fraud, financial or white-collar crime because of threats, they may be able to defend themselves based on duress. Also referred to as coercion, duress requires the defendant to show they committed the act only because of an immediate and inescapable threat of bodily harm or death.
Incapacity
Where a defendant lacks the mental capacity to understand the criminal nature of their actions, they may be able to argue incapacity. However, this can be difficult to prove in cases involving sophisticated conduct by a defendant over a long period.
Defense Strategy
Regardless of whether or not any of these affirmative defenses apply in your unique case, Attorney Larsen will investigate your case and develop a defense strategy. Part of this strategy may include violations of your 4th Amendment rights. You or your property may have been unlawfully searched and seized. You may have been unlawfully questioned. A warrant may have been unlawfully obtained and/or executed. If a violation exists, evidence could be suppressed.
Remember, too, that the prosecutor has the burden to prove your guilt beyond a reasonable doubt. Part of our job is to poke enough holes in the prosecutor's case to create doubt.
Contact a Fraud, Financial and White-Collar Crimes Defense Lawyer in Rhode Island
Although fraud, financial and white-collar crimes are not considered violent crimes, they are serious and could have long-term repercussions. If you have been accused of fraud, financial or a white-collar crime, immediate action should be taken. At Larsen Law, we will discuss your case with you and examine all potential defenses. Call (401) 218-0862 or fill out an online submission form today to schedule a free 15 minute consultation.