Ponzi Schemes, Securities Fraud, Mortgage Fraud on the Rise
Law enforcement officials are searching for illegal Internet activity more than ever. All too often, innocent people are caught in the dragnet. If you are facing Internet fraud allegations, Hope C. Lefeber Philadelphia Defense Attorney will stand up for your rights.
An FBI official recently reported to the U.S. Senate Judiciary Committee that the bureau has uncovered “massive frauds” in its continuing effort to fight financial crime. Kevin Perkins, Assistant Director of the FBI’s Criminal Investigative Division, reported that new corporate fraud cases, including newly identified Ponzi schemes, are up by 111 percent. In addition, high-yield securities frauds have grown by more than 200 percent.
Several high-profile securities fraud cases have surfaced in just the past few months alone. In June, former chairman of Taylor, Bean, and Whitaker, a large mortgage origination company, was charged with a $1.9 billion fraud that contributed to the failure of Colonial Bank, one the United State’s largest banks and the sixth-largest bank failure in the country. In July, a managing partner at WG Trading and Westridge Capital Management pleaded guilty to his participation in a $700 million scheme that defrauded charitable and university foundations as well as pension and retirement plans. In September, the owner and former chief executive officer of Capitol Investments pleaded guilty to an $880 million Ponzi Scheme involving his New Jersey Firm.
Perkins also reported that in the last three years, the number of mortgage fraud cases seen by the FBI has steadily climbed from 1,200 in 2007 to over 3,000 in 2010. Of these cases, nearly 70%represent losses to financial institutions and other victims exceeding $1 million. In many of these cases, according to Perkins, “the loss far exceeds $1 million.” In response to the growing number of mortgage fraud schemes, the government has undertaken “Operation Stolen Dreams”, a take-down of mortgage fraud schemes throughout the country by President Obama’s interagency Financial Fraud Task Force.
All persons charged with crimes are entitled to the protections afforded by the United States Constitution. An experienced criminal defense attorney helps to ensure that a defendant's rights are protected before, during and after a trial. If you have been charged with or convicted of a criminal offense, you should consult with a criminal defense attorney immediately. For a confidential consultation, contact the Law Offices of Hope Lefeber
Hope C. Lefeber offers professional representation of corporate and individual clients facing fraud charges:
- Business Mail fraud - Mail and Wire Fraud
- Embezzlement Improper billing practices, Money launderingm Extortion, Forgery
- Accounting Fraud
- Bank and financial Fraud
- Tax fraud
- Insider trading
- Other White Collar Crimes
- Fighting Internet Fraud Charges
- Identity theft
- Mortgage fraud
- Healthcare fraud
- Internet auction fraud
- Internet gambling
- Fraudulent Internet scams
- Fraudulent money transactions
- Government Fraud
- Corporate Fraud
- Mortgage Fraud
- Stock Fraud
- Bank Fraud
- Tax evasion and tax fraud
- Money laundering
- Insurance Fraud
- Securities violations
- Forfeiture
- Pyramid and Ponzi Schemes
- Healthcare
- Identity theft
- Counterfeiting
- Trade secret violations
- Grand Jury issues
When you are facing charges of business or mail fraud, a thorough investigation is critical. She utilizes a team of experts, accountants and investigators who will thoroughly examine the intricacies of your case in order to find a strategy to reduce the amount in controversy and there by reduce the penalties that her clients face.
