Most people don’t like to admit they’re wrong. But it’s not always so black and white when it comes to criminal law. Even the most hardened criminal defense lawyer might have their missteps. When defending a person in a criminal fraud and fraudulent transactions case, the defendant’s attorney will no doubt question the validity of the prosecution’s case. To do so effectively, an attorney needs to understand the prosecution’s case and the defense’s case regarding the evidence. That’s where a criminal fraud and fraudulent transactions case defense attorney can help. This article covers everything you need to know about defending yourself in a criminal fraud and fraudulent transactions case.
What is Fraudulent Transaction?
A fraudulent transaction is any act that results in the false representation of a fact to obtain a financial benefit. For example, you might make a false statement on your tax return to get a refund. A fraudulent transaction can also occur when you falsely state that you have assets worth more than they are. In many cases, fraudulent transactions occur during securities fraud or other financial crimes.
While there are many different types of financial crimes, most fall under the umbrella of either bank fraud or securities fraud. These two types of financial crimes are based solely on the value of the money involved in a given crime. Bank fraud occurs when you use your bank account to make illegal purchases. Securities fraud occurs when you use, buy or sell securities for personal gain even though the value of those securities is lesser than what you paid for them or what they’re capable of producing earnings.
Bank Fraud and Securities Fraud Cases Involve a Point System and Deposits
When it comes to large-scale criminal fraud, it’s not uncommon to have evidence that involves banks and other financial institutions. In cases where large sums of money are concerned, a point system was likely used as an easy way to manage assets during the time period the fraudulent transactions took place. Point systems come into play during those complex cases where law enforcement officials suspect multiple participants to have been involved in criminal activity. When points are used, each individual charged with a crime has assigned points based on their conviction history and criminal history records with law enforcement investigators. The higher the issues, the more likely you’ll be convicted.
In cases where securities fraud is being investigated, and the proceeds of illegal transactions involve redemptions with other financial institutions and banks, there’s often a direct link to dollars that have been deposited into bank accounts established by the suspect. It’s also common for those deposits to represent additional money used with extra money acquired through unlawful means. In these sorts of cases, the banks and financial institutions are generally glad to turn over any evidence that could be helpful in the fraud investigation.
The point systems used by financial institutions are designed to make imposing fines in large amounts as easy as possible. That’s because they help to ensure that more significant sums of money will always be at stake when a point system is being used, even if it only occurs once or twice a year. When you’re dealing with large sums of money compared to trading securities on Wall Street or using your credit card for unlawful purchases, those violations take on a more significant impact than the single time the bank may be called upon to impose sanctions.
How is a Fraudulent Transaction Proven?
The prosecution must show that the defendant committed a crime to prove a fraudulent transaction. They will need strong evidence that the accused acted in concert with another person or entity to commit a crime. This can come in circumstantial evidence, witness testimony, or physical evidence. For example, if you’ve made a legal deposit into a bank account and an associate of yours accesses the account, there’s a strong possibility that an additional deposit will be made and it could be used to prove that you had been involved in the original crime.
Once the government has been able to identify the limitations of your assets through forensics and tracking, it can then begin to analyze all financial transactions with those assets. Eventually, information can be obtained regarding additional deposits or withdrawals from accounts accessed through your bank records. If for some reason, you have access to other computers and networks that investigators do not monitor, they may find evidence that shows you were attempting to cover up your connection to another person or enterprise. This is another way in which law enforcement teams across the nation are discovering various forms of financial fraud.
Defending Yourself Against a Fraudulent Transaction Prosecution
When defending yourself against a fraudulent transaction prosecution, the first step is to understand the prosecution’s case. This will help you to formulate a defense that will be successful. The second step is to question the evidence. This means asking questions about the accuracy of the information presented by the prosecution. If you can do this, you’ll be able to build a case that proves your innocence. At this point, it’s also a good idea to look into your legal rights to remain silent and ask for an attorney.
A fraudulent transaction defense attorney will help their client understand the prosecution’s case to give the client advantage. For example, if the prosecution relies on circumstantial evidence, the lawyer can challenge this evidence. Additionally, the lawyer can ask questions that may support the defense’s argument. This will allow the client to question the prosecution’s witnesses’ credibility and provide their account of what happened. In addition, a fraudulent transaction defense lawyer can help their client identify potential red flags in the prosecution’s case. These red flags could include:
- The prosecutor used false information to obtain a warrant.
- The prosecutor is trying to make a quick decision without consulting with an attorney.
- The prosecutor made false statements about what happened.
- The prosecutor is trying to create a perjury charge against someone.
A fraudulent transaction occurs when someone falsely claims to have provided you with a service, but in fact, they are getting something else in exchange. Depending on the circumstances, a fraudulent transaction can be a clear case of theft or a scam. If you suspect you have been a victim of a fraudulent transaction, don’t panic. The sooner you take action, the better your chances of recovering your money. The best way to protect yourself against fraudulent transactions is to stay active in your credit report, avoid fallible people in your life, and report suspicious activity to the authorities.
Hanlon Law should be your first stop. We are a criminal defense attorney based in Sarasota, who believes your future is all that matters. Click here to contact us and get in touch with one of our offices across Florida.
1605 Main St Ste 1115
Sarasota, FL 34236