Federal Financial Fraud Charges
In some situations, a financial fraud case can start out in state court but have the potential of becoming a federal case. Our Stamford team also can examine the case and determine if we may be able to prevent it from going to federal court. If the case proceeds to federal court, or if your case resulted from a federal investigation, our attorneys have the resources and experience to help you with every aspect of your defense.
Connecticut residents beware: Charges of financial crime on the rise
Authorities are stepping up prosecution of financial crimes such as mortgage fraud. Allegations of mortgage fraud can range from a single homeowner mistakenly filing false documents when applying for a home loan to large conspiracies spanning over many years and involving dozens of home loans.
The FBI is investigating these crimes at a much higher rate. Two recent cases provide an example of how severe penalties associated with these crimes can be. The first case involved a large scale financial fraud operation. In this case, a homebuilder was sentenced to 14 years imprisonment and ordered to pay over $4 million in restitution. The man was found guilty of selling homes for an inflated price, allowing him to obtain fraudulent mortgage loans.
Another mortgage fraud scheme was discovered in Connecticut. This scheme spanned over many years and involved purchasing and selling homes using straw, or hidden, borrowers who falsified documents to get a loan. The man who ran the scheme is accused of involvement in over 40 fraudulent loans totaling over $10 million.
Mortgage fraud charges are on the rise
Years ago, President Obama first created a task force to wage an aggressive effort to both investigate and prosecute those who are accused of financial crimes. The task force, called the Financial Fraud Enforcement Task Force (FFETF), is the largest combination of law enforcement agencies ever assembled to address the issue of financial crimes. This federal effort is also felt locally. In 2009 the Connecticut Mortgage Fraud Task Force was developed. This group focuses on foreclosures and short sale schemes.
According to the FBI, the Justice Department has filed over 10,000 financial fraud cases over the last three years.
Those charged with a financial crime should take the allegations seriously. Contact an experienced Connecticut financial fraud attorney to help determine what resolutions are available and what option is in your best interest.
Contact a Fairfield County Embezzlement and Fraud Defense Lawyer
We will work closely with you, diligently investigate your financial fraud case and determine what resolution is in your best interests and protects your future. Contact us online or call our firm at 203-327-1500 for a free Consultation. We serve clients in Connecticut and New York from our Stamford office.