Business/Financial Crimes

Financial crimes usually pertain to any type of intentional monetary fraud by or against an individual, organization or entity.  Common types of financial crimes include bribery, mail fraud, wire fraud, computer fraud, credit and/or debit card fraud, insurance fraud and embezzlement.  Financial crimes are governed by specific sections of the United States Code, depending on the type of fraud alleged.

Money laundering, in a broad sense, includes financial transactions which represent the proceeds of unlawful activity, such as narcotics activity, fraud, etc.  The financial transactions must be with the requisite degree of knowledge, for the purpose of concealing, disguising, promoting or facilitating the underlying, specified unlawful activity. 

There are two distinct statutes with different degrees of proof found at 18 USC 1956 and 18 USC 1957.

Organized Crime / Racketeering (RICO)

The prosecution of multiple criminal acts under the umbrella of one federal statute - Racketeer Influenced and Corrupt Organization (RICO- Title 18, United States Code §1961 et. seq.).  The underlying criminal allegations run from multiple state offenses such as murder, kidnapping and gambling to federal offenses including narcotics trafficking, immigration, labor issues, counterfeiting, etc.  Over one hundred types of criminal offenses are included within the RICO statute.  

Tax Fraud

Tax fraud encompasses tax evasion, failure to file tax returns or filing inaccurate tax returns, (false statements). This involves allegations of intentional or willful tax offenses, as distinguished from civil or regulatory controversies.  Tax offenses are typically governed by Title 26 of the United States Code.   

Health Care Fraud

Healthcare fraud encompasses a variety of criminal offenses and is not limited to a violation of one criminal statute.  Healthcare fraud commonly involves allegations of  false claims by physicians, managed care organizations or other types of healthcare providers, such as billing for services or goods not rendered or provided, billing for unnecessary goods or services or payment of kickbacks. Healthcare offenses are usually governed by Title 18, §287 of the United States Code,, but  can also trigger other substantive offenses governed by other sections of the United States Code.

Banking Fraud

Bank fraud encompasses allegations of intentional fraud against financial institutions.  Conduct within bank fraud include check fraud, commercial loan fraud, check kiting, mortgage fraud, any false statements or misrepresentations pertaining to the value of assets or pledged collateral, causing a banking official to breach banking regulations or duties by failing to file or report certain currency transactions and embezzlement.  Bank fraud offenses are governed by Title 18 of the United States Code.

Securities Fraud

Securities fraud is also known as investment fraud and pertains to the intentional deception of investors through market manipulation or theft from securities accounts. Securities fraud offenses are governed by Title 15 of the United States Code.

Drug Trafficking

Drug trafficking pertains to any offense which involves the sale, cultivation, distribution, importation or exportation of any controlled substance or narcotic.  Drug trafficking offenses are governed by Title 21 of the United States Code.

Federal Sentencing Guidelines   

Under the Supreme Court decision of United States v. Booker, the federal sentencing guidelines have become advisory, and are no longer mandatory. It is now up to each individual judge whether to rely on the guidelines for guidance or to impose a sentence limited only by the statutory minimum, if any,  and the statutory maximum punishments.   The federal sentencing guidelines include a grid analysis combining the person’s criminal history, the nature of the criminal conduct upon which the individual has been convicted, and additional sentencing features that can increase or decrease the ultimate sentence.

Note:  The above descriptions are intended to be a general overview and not a specific analysis of each statute.