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Accused of insider trading or financial fraud? We will defend you.

SECURITIES & MORTGAGE FRAUD

New York has become something of a poster child for mortgage and securities fraud convictions. This is especially true after the conviction of Bernie Madoff and the mortgage debacle over the last few years. Anyone can be charged with mortgage or securities fraud including homeowners, pension plan managers and companies that manage mortgages or securities. The most common charge prosecuted under securities fraud is insider trading.

 

INSIDER TRADING CHARGES DEFINED

Someone who is facing insider trading charges will be charged under the Federal Securities Fraud statutes under Title 18 of the U.S code. The charges are generally lodged when someone makes a securities trade using information that is not public. Securities include bonds, treasury stock, preferred and common stock, options, and any stock rights including options to purchase.

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WHO IS CONSIDERED AN INSIDER?

Many people are under the impression that to be considered an insider one must work for the company. This is not true, however. Insiders are defined as anyone who has an obligation to protect information about a security that is not available to the public. A simple discussion with a neighbor about the stock in their company involving information that could change the stock price can result in insider trading charges if you act on that information.

 

Securities fraud penalties can be very serious and may be enhanced with charges of conspiracy, wire fraud and mail fraud. Anyone who finds themselves under investigation for securities fraud should immediately contact a white collar criminal defense attorney. Keep in mind, the FBI as well as the Securities and Exchange Commission may open an investigation at any time. Those who are found guilty will not only face steep fines and jail time but may also risk being banished from working in any type of financial environment ever again. Solomon Richman P.C. is dedicated to providing an aggressive defense and advocating for you when you are facing any type of securities fraud including insider trading charges.

 

MORTGAGE FRAUD

While some of the most aggressive mortgage fraud investigations involve banks and other financial institutions, any person who has ever applied for a mortgage loan may find themselves facing mortgage fraud charges. Mortgage fraud involves a variety of charges including:

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  • Falsifying loan documents – mortgage applicants who provide fake documents to a loan officer or mortgage broker in order to get approved for a loan

  • Providing false appraisals – appraisers who provide a home appraisal with inflated values after speaking with a lender, buyer or seller

  • Straw buyer applicants – when someone buys a home in their name for the sole purpose of defrauding a financial institution, they may be charged with mortgage fraud

 

While there are no federal mortgage fraud statutes, there are other federal charges that could be faced including wire fraud and mail fraud.

 

If you are facing a mortgage fraud investigation or you have been charged with any crime involving mortgage fraud it is imperative you hire a white collar criminal attorney as quickly as possible. While the prosecutors often have spent many months pursuing you, your defense team will need time to gather and analyze all the documents and evidence the government has collected. Contact Solomon Richman, P.C. at (516) 437-6443 if you are under investigation or you have been subpoenaed to face charges of securities or mortgage fraud. We will serve as your advocate and help defend you against all charges.

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