Bankruptcy is the state of owing debts greater than one has assets and being unlikely to be able to pay the debt. Early American bankruptcy law was established primarily by the states, causing there to be a wide discrepancy between how bankruptcy was...
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To help detect illegal financial transactions like money laundering and fraud, Congress enacted the Bank Secrecy Act (BSA) in 1970. The law was amended to include provisions of the Patriot Act intended to discover and report financial conduct consist...
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White-collar crime describes a wide range of activities that could involve embezzling funds that you were entrusted to hold for someone else, bribing a public official, filing a false tax return, forgery, or defrauding an older person out of money by...
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Conspiracy takes place when two or more people agree to commit a criminal act. Cases in federal court typically include conspiracy charges related to identity fraud, wire fraud, or internet fraud, in addition to the charges associated with the manufa...
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The Securities and Exchange Commission (SEC) is an administrative agency with extensive powers to monitor, investigate, and file civil enforcement actions in federal court or commence administrative proceedings against parties that violate federal se...
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The term white-collar crime refers to criminal offenses “characterized by deceit, concealment, or violation of trust . . . to obtain or avoid losing money, property, or services or to secure a personal or business advantage.”i These crimes are co...
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One of the most misunderstood crimes in our system is “Conspiracy.” People have a general idea of what it is; but when it comes to the law, you need a full understanding of what a prosecutor needs to prove to convict a defendant of the crime. ...
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A “Ponzi Scheme” was named for one of the most notorious men who ever engaged in the offense, Charles Ponzi. In the 1920s, Ponzi operated a financial investment scam in which he took money from new investors and then used it to pay earlier invest...
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Honest Services Fraud is a federal crime covered within the overall “Frauds and Swindles” section of the U.S. Criminal Code, 18 USC §1341. Until 1988, the federal government could not convict a defendant of committing mail or wire fraud unless t...
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The U.S. Department of Justice has prioritized the prosecution of all healthcare fraud and related crimes. One of the most frequently charged federal criminal violations involves the Anti-Kickback Statute (AKS) of 1972.i The law provides for pena...
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