Being charged with fraud in New York City is a very serious matter that can have severe legal consequences. The term fraud encompasses a large range of activity, from welfare fraud, through embezzlement, through investment fraud. The severity of the sentence often depends on the scope of the fraud and the amounts that were defrauded.
For example, there have been cases involving persons who fraudulently created false invoices that were supposed to represent money owed by third parties, and then sold these purported debts to companies known as factors. Factors routinely advance money to businesses against a percentage of the value of the invoices, or accounts receivable, purchased. By using these false invoices, these persons are defrauding the factor companies and getting them to advance money for funds that do not exist. In this system of fraud, other people may be enlisted to help perpetrate the fraud that the invoices are genuine and represent actual goods or services provided. Such actions can result in charges including wire fraud and money laundering in connection with a fraud scheme, as well as conspiracy to commit fraud.
If convicted, defendants facing such charges may end up with up to 20 years’ imprisonment on each count. The prosecution may also seek fines or forfeitures. It is also important to be aware that most crimes involving fraud will automatically deemed to demonstrate moral turpitude and thus be grounds for deportation of a defendant who is not a U.S. citizen.
If you stand accused of fraud-related charges in NYC, your first step should be to retain an experienced criminal defense attorney with expertise in defending against fraud charges. Call our experienced NYC criminal defense attorneys at (212) 577-6677 to schedule an immediate consultation.