Financial Crimes Lawyer
An aggressive CHICAGO CRIMINAL DEFENSE ATTORNEY representing CLIENTS AGAINST white-collar crimes
Every day, the news broadcasts a story of an individual charged with what are called “White-collar crimes.” These crimes capture the imagination of the public because they involve large sums of money, lavish lifestyles and the abuse of power and trust by respected people. The crimes of Enron, Jeffrey Skilling, Martha Stewart, John and Timothy Rigas, Dennis Kozlowski and Jack Abrahmoff are well known but state and federal prosecutors are charging individuals and companies with a host of financial crimes every day under the public radar. What can appear to be a series of small thefts can add up to millions of dollars over the course of years and you could be facing years in prison and millions of dollars in fines.
If you are charged with a federal white-collar crime you will be up against the federal government. They are an adversary with vast resources, talented agents and attorneys and a team of analysts pouring over your financial records. By the time you are charged in federal court, the US Attorney has been examining your financial practices, talking to your colleagues and constructing a court case against you for months, if not years. The skill, resources, and power of your accuser means that, if you’re charged with a financial crime, you must seek representation that is familiar with financial crimes and accounting practices.
Types of Financial Crimes
It is always important to work with an experienced Chicago criminal defense attorney for any financial crime cases. You should not provide any testimony or participate in any police interview without speaking with your attorney first. Whether you have been charged with money laundering, mortgage fraud, bank fraud, wire fraud, identity theft, tax fraud, or some other financial crime, you should consult with a seasoned criminal defense attorney immediately.
There are certain crimes that have been categorized as white collar crimes under the Illinois State Statute for White Collar Crime (720 ILCS 5/33 et seq.) These are primarily deceptive practices where concealment or deceit is used for obtaining money, property, services, or other benefits.
If you have been charged with any of the financial crimes listed below, seek representation to build your defense today.
- Identity Theft – being in possession of another person’s identification or financial information, through deceptive methods, for financial gain. 720 ILCS 5/16-30
- Healthcare Fraud– intentionally defrauding any healthcare benefit program or the use of false statements to obtain funds held by a federal healthcare program. 18 UCS §1347
- Wire Fraud – having devised or intending to devise any scheme to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire, radio, or television communication in interstate or foreign commerce, any writings, signs, signals, pictures, or sounds for the purpose of defrauding a person or entity. 18 USC §1343
- Continuing financial crimes enterprise – knowingly, within an 18-month period, commits 3 or more separate thefts or financial offenses, or, if involving a financial institution, any other felony offenses established under the Code.
- Embezzlement – the theft or misappropriation of funds that have been placed into the care of someone or their employer. 720 ILCS 5/16-1
- Money Laundering – the act of trading or moving money that has been illegally obtained, for the purpose of hiding funds through placement, layering and mixing. 720 ILCS 5/29B-1
In addition to penalties including probation and prison, sentences handed down by courts oftentimes include restitution which requires a person to pay back the money taken, parole or mandatory supervised release, the forfeiture of properties, holding and assets and community service.
Investigations for white-collar crimes are usually lengthy, complex, and far-reaching. They generally commence with the sole focus on one targeted person.
State or federal financial crimes that involve forgery or fraud usually also involve insider trading and breach of fiduciary duty, among other criminal charges. State and federal prosecutors handle several cases on a daily basis, making it important to work with a knowledgeable and experienced criminal defense lawyer like Purav Bhatt. He has the skills, resources, and determination to get your criminal charges dismissed or reduced.
Penalties for Financial Crimes
The type of crimes that fall under the scope of financial or white-collar crimes varies widely, which means their penalties also differ. These are a few possible punitive outcomes for financial crimes:
- Property forfeiture
- Community service
The fines and the length of sentences are becoming greater as the prosecution of these crimes in the state and federal court becomes more common. You may end up paying fines in tens and hundreds of thousands of dollars if you are not careful about choosing your financial crimes lawyer.
The average prison sentence for financial crimes in Illinois is four years. With certain types of crimes, such as healthcare fraud or fraud involving a place of worship or school, probation may not be a possibility.
Financial crimes are zealously pursued by both state and federal governments. These prosecutors spend years building a case by slowly gathering the evidence. There are several tools available to them that look at the high-profile nature of these offenses. It takes formidable and committed Chicago criminal defense lawyers to navigate this complex system and help the accused.
You can have your assets and property seized if you get convicted of a financial crime. This means that your family may lose their home, have belongings repossessed, and have college funds seized. This is in addition to you possibly losing your freedom and paying fines.
The world associates financial crimes with dishonesty and concealment. There is a certain degree of prejudice in social circles if you are accused and convicted. Even potential employers might use the conviction as an excuse to deny employment. It’s crucial to take an aggressive stand against these charges and prepare a strong defense to protect your future.
Successful Defense Against a Financial Crimes Charge Requires Top Legal Skills, Experience, and Resources
Financial crime investigation is usually a multi-tiered endeavor. It involves different due diligence at both state and federal levels. In cases where federal laws are breached, investigators will go to great lengths to obtain evidence against the defendant.
It takes a powerful legal strategy and team effort to launch a successful defense against white-collar crime charges. The team from The Law Office of Purav Bhatt works closely with financial analysts, accountants, and other knowledgeable experts to analyze financial transactions and comb through records provided by financial institutions. In most cases, such efforts prove to be useful in presenting the judge or jury with an alternative and innocent explanation of the client’s actions.
An Experienced Financial Crimes Attorney
Attorney Purav Bhatt has been defending individuals accused of financial crimes in state and federal courts for over a decade. Over that time, he has built a team of investigators, financial analysts and attorneys that have previously worked for the IRS, Department of Treasury and US Attorney’s Office.
Call for contact us at 773-791-9682 or contact us here to discuss your case.