Residents in Minnesota who find themselves accused of white collar crimes may be understandably surprised and confused. A criminal accusation can often feel incongruous with what a person thinks of themselves. When many people think about criminals, they think about people who are accused of things like murder, assualt or drug charges not generally very successful professionals. Yet, many highly educated and accomplished people find themselves in this spot and then they must all of a sudden navigate a very world very unfamiliar to them.
Most Minnesota residents have heard about embezzlement but many may not fully understand what might actually be considered embezzlement. While some may think it is a case of an employee stealing from an employer, there may be a whole lot more to it than that. Actually, some factors that may be involved in an alleged embezzlement case can actually be very difficult to identify or to prove.
Embezzlement charges are certainly nothing to take lightly yet it is always important for Minnesota residents and businesses to remember than every criminal allegation is just that. There is a reason that defendants are offered the chance to defend themselves because not every person or entity accused of a crime is actually guilty. In addition to being found not guilty at the end of a trial, sometimes a legal action may even be dismissed altogether.
Minnesota residents who read stories or hear reports of various white collar crime allegations can understandably be confused at times. There are many different forms of offenses that are considered to be white collar crimes and sometimes a single case may involve multiple allegations which can make it hard to distinguish between the offenses. Some types of white collar crime charges include Ponzi schemes, embezzlement, mail fraud and tax fraud among others.
Minnesota residents who have ever been arrested and charged with a serious crime know just how difficult it can be to truly understand the nature of a situation based upon news reports. Very often, the limited information provided in such accounts position defendants in an extremely negative light. Whether the charges are for money laundering, fraud or something else, this can make life very difficult for anyone facing these types of charges.
Minnesota residents who hear about various criminal activity should know that not all crimes are handled by local authorities alone. Depending upon the nature of the allegations, federal charges may apply. The consequences that may result with these types of crimes can be very severe. An example of this can be seen involving a man in Arizona who used to be a Chief Deputy with the Pima County Sheriff's Department.
Minnesota employees who have access to company assets are expected to be trustworthy and operate with their employers' best interests in mind. When concerns about a person's honesty and ethics in business surface, investigations may result and these can even lead to criminal charges. For people whose jobs provide them easy access to company money or other assets, the potential to be accused of white collar crimes may be greater than for other people.
With regard to financial fraud, there are a plethora of charges people face, all of which can lead to harsh penalties. You may be aware of the consequences associated with bank fraud and Ponzi schemes, but it is important to keep in mind the potential setbacks that may come with different white collar offenses, such as writing bad checks. At Joseph S. Friedberg Chartered, our firm is well aware of the repercussions people face when they are accused of financial fraud in Minneapolis, and other parts of Minnesota.
According to the U.S. Securities and Exchange Commission, Ponzi schemes are a type of investment fraud by which current investors are paid by using funds that were gathered from additional investors. These schemes often fall apart when it becomes tough to find more investors or current investors decide they want out. If you are accused of running a Ponzi scheme in Minneapolis, or any other Minnesota city, you may face significant consequences. At Joseph S. Friedberg Chartered, we know firsthand how financial fraud charges can completely upend an individual's life.
In a previous post, the federal penalties for embezzlement were covered. However, in Minneapolis, and other cities across the state, embezzlement is also punishable under Minnesota law. When individuals are accused of embezzling funds, the consequences may extend far beyond imprisonment and financial penalties. For example, people may never find an employer willing to hire them in their line of work due to their criminal record.