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As a business owner or financial professional, being convicted of a crime is a serious matter that shouldn’t be taken lightly. Depending on what the nature of the securities fraud crime, you could be facing time in jail, fines, probation, restitution and community service. If your investing crime involved government bail out or public stock holders money, there could also be court-ordered treatment as part of your conditions as well. There are a number of things that come into play and determine what is going to happen. However, making a costly mistake could be the difference between being back in the markets or being behind bars. Here are a few things you want to avoid when it comes to your criminal law case.
What Is Securities Fraud?
It is important to first know what you are dealing with. That is why understand the securities fraud definition is so crucial for those in finance careers. Securities fraud refers to an expansive range of illegal activities. These illegal activities all involve deceiving investors or manipulating financial markets. Securities fraud includes high yield investment fraud, Ponzi schemes, pyramid schemes, advanced fee schemes, foreign currency fraud, broker embezzlement, hedge fund related fraud and late day trading, among others. Now that you know what you are up against, you can fully understand these tips for things to avoid.
Lying To The Courts
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Oftentimes, people think they can get away with securities fraud if they simply lie about what happened then hire online reputation management companies to take care of the rest . Judges aren’t looking for someone who is going to lie in an attempt to get the blame off of what they did. They want someone who is willing to accept responsibility, show remorse and begin making things right for the money lost. Accepting responsibility for embezzlement, under-reporting or misrepresentation can go a long way in a court of law.
However, that doesn’t mean you should go into court and start blurting out specifics of your securities trading deals without having an attorney present. You want to make sure your attorney is there with you and has advised you of your rights along with what you should or shouldn’t be doing.
Failing To Hire A Qualified Attorney
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Another big component of a criminal law case is having a securities defense attorney who knows what they are doing. You want someone who is experienced in the field and has successfully defended clients in cases similar to yours. This often indicates that they have spent time building relationships that will help improve your odds at winning your case. You don’t want someone to defend you on a securities fraud charge if they have ever only dealt with corporate litigation or accounting cases. Make sure to ask about their background and what type of results they have had in the field.
You also want an attorney who is willing to spend time going over everything with you. You don’t want a securities attorney who doesn’t have time to explain what to expect or how things are going to go. Criminal law is quite complex already. You need someone who can explain the process in terms you can understand. When choosing a criminal defense attorney, make sure you choose someone that you feel comfortable with. Don’t choose someone who you don’t feel is listening to your concerns and taking your case seriously. You don’t want to be just another number.
Ignoring Court Orders
If the court tells you that you need to complete so many hours of community service, you need to make sure that you do just that. Don’t ever think that you can get away with ignoring the judge’s orders. You will be called back into court and asked why you aren’t doing your part. This could end up coming back on you later on down the line.
Purposely ignoring the orders of the judge could land you in contempt of court. When that happens, you could be facing additional fines, penalties and possibly time in jail. You are much better off just doing what you are told than handling matters on your own terms.
By not making one of these key mistakes above, you can get through your securities fraud case quickly and easily. Even if you have to deal with the Securities Exchange Commission (SEC), there is no reason why things should have to be more difficult than they need to be. It is up to you to proceed in the proper manner and take the necessary steps on your part to handle your case quickly.
