Accounting fraud is closely related to other corporate crimes such as Securities Fraud. The difference between accounting fraud and other types of Fraud is that accounting fraud takes place within the accounting realm of the business and is typically charged to an accountant or an agent of an accounting firm while they are in the course of their accounting tasks. Like other types of fraud, accounting fraud is defined by deception and concealment.
Accounting Fraud Charges
Accounting fraud is a federal offense. Common types of accounting fraud which violate federal law are: Insider Trading, buying or selling unregistered securities, making false statement or omissions to the Security Exchange Commission or making any prospective purchase, sale or trade that involves fraudulent securities over state lines. Those who are involved in corporate accounting could become the target of a fraud investigation without knowingly committing any crime. The rules concerning Money Laundering, trading and securities can be so specific that those who have no knowledge of illegal activities or who had no intention of committing an illegal act could come under suspicion of fraud. Though the act may be unintentional, the punishments are severe. Depending on the type of accounting fraud, the maximum prison sentences can go as high as 10 or 20 years. Moreover, you could be heavily fined – for example, a conviction of Money Laundering could lead to a fine of up to $5,000,000 for a person or $25,000,000 for a corporation. This makes it crucial to get a criminal defense attorney who can successfully defend you against charges of accounting fraud.
Accounting Fraud Penalties
Unfortunately, fines and imprisonment are not the only problems that you will face with charges of accounting fraud. During the investigation, federal agencies may seize all assets. This could create many difficulties both with corporate and personal finances. It is important to have an experienced criminal defense attorney to make motions and appeals to free up assets and limit the investigative power of federal law enforcement.
We Can Help
Our criminal defense attorneys are prepared to defend our clients against any charges of accounting fraud. We will devote all of the firm’s resources to protecting the rights of you and your business. Our criminal defense attorneys have experience in both federal and state courts and can provide a full defense against accounting fraud or related charges no matter what law enforcement agencies or powers of prosecution have been brought against you. Accounting fraud can become very complex when it deals with large businesses and their financial activities. Our team of accounting fraud attorneys is ready to devote the resources necessary to successfully defend against complex cases of fraud. If you or your business are under investigation or have been charged with accounting fraud, Contact our criminal defense attorneys as soon as possible to arrange a consultation.