New York congressman George Santos has been indicted on a raft of federal charges that could put him behind bars for decades. A 13-count indictment was unsealed on May 10 when Santos appeared in a Suffolk County district court. He faces one count of stealing public funds, two counts of making false statements to the U.S. House of Representatives, three counts of money laundering and seven counts of wire fraud. After posting a $500,000 bond, the beleaguered lawmaker vowed not to resign. He is scheduled to appear in court again on June 30. Investigations The Nassau County District Attorney’s Off ..read more

A Ponzi scheme is a fraud that lures New York investors by promising high returns with little or no risk. Named after Charles Ponzi, who became famous for using the scheme in the 1920s, a Ponzi scheme generates returns for older investors and promoters by acquiring new investors. This new investment acquisition stops when there are no more new investors, at which point the scheme collapses. It often leaves the last group of investors with heavy losses. Common elements of a Ponzi scheme Ponzi schemes share several common features as follows: They promise little to no risk and only high returns ..read more

News reports about highly publicized cases involving embezzlement and other crimes may note the defendant also faces charges of wire fraud. A guilty verdict on any counts of wire fraud might result in the accused looking at harsh sentencing in a New York federal courtroom. Those concerned about a possible indictment would likely wonder what constitutes credible wire fraud charges. Wire fraud Understanding wire fraud charges involve defining the two different words. As many realize, fraud consists of deception or misrepresentation for monetary or another illicit gain. Wire centers on using any ..read more

Generally speaking, the white-collar crime of racketeering refers to criminal acts that are part of a larger scheme, or racket, designed to generate illegal profits. In New York, racketeering is made illegal by statute. It may also be prosecuted under the federal Racketeer Influenced and Corrupt Organizations Act (RICO). Racketeering charges are often brought in addition to charges for a more specific criminal act. For example, a person might be charged with extortion and racketeering if the extortion is alleged to be part of a larger criminal scheme. Types of racketeering crimes The RICO stat ..read more

A United States Attorney for the Southern District of New York made an October 2022 announcement about a pending embezzlement case. Allegedly, an executive with a children’s charity illegally appropriated the organization’s money for personal expenses. Embezzlement allegations According to the criminal complaint, the former executive director of a not-for-profit New York City-based children’s charity had embezzled funds from 2018 to 2021. The complaint alleges the former executive misappropriated $98,000 in charity funds. The report issued by the U.S. Attorney’s Office alleges the accused with ..read more

Would-be customers in New York might find particular marketing pitches appealing. Unfortunately, some may need to realize a marketing deal could be an outright scam. Sometimes, a deceptive scheme could leave the victims losing significant money. Being alert to the typical games marketing scammers attempt may help people avoid suffering any losses. Marketing schemes and games Among the most common marketing scam that dishonest tricksters pull involves bait-and-switch plans. A seller could ask for payment in advance for an item to ship to the buyer. However, no such product exists, or the item i ..read more

If you want to engage in the highs and lows of the stock market, New York certainly provides ample opportunity and plenty of people willing to give advice. Both the state and federal government have enacted a number of laws designed to protect potential investors from unfair trading practices. One of the most commonly violated trading laws forbids naked short selling. What is short selling? Short selling involves trading or investment strategies based on speculation about a decline in stock or security. When investors engage in short selling, they attempt to profit through the stock’s decline ..read more

Identity theft affects many New Yorkers each year. An arrest for this white-collar crime is life-changing. There are different ways that identity theft can occur. What is identity theft? Identity theft is a white-collar crime that occurs when a person fraudulently gains access to someone else’s personal information and uses it for their own benefit without that person’s permission. It is a crime that can cause a lot of damage to the victim’s reputation personally and financially. Victims can suffer the consequences of identity theft for years. How does identity theft occur? There are many diff ..read more

There are many ways people try to defraud others or get personal information in New York. Many scams are over the phone, and scammers use various schemes to keep the person on the line. Scammers may keep people talking by trying to sell something or lure them with a grand prize. Defendants of telemarketing fraud have options during and before trial. Types of telemarketing fraud Telemarketing frauds are white-collar crimes involving someone calling another and making false statements to get information. Defendants of telemarketing fraud often misrepresent themselves to allow a person to disclos ..read more

Clients who provide funds to brokers and advisors have every expectation the money goes into the agreed-upon investment vehicle. Sometimes, clients feel shocked to discover misappropriation occurred. While such instances might be rare, they do happen. Several high-profile criminal cases focusing on embezzlement contribute to investor anxieties. A recent case in New York represents one example of an embezzlement arrest. An embezzlement case in White Plains In April of 2022, the U.S. Attorney’s Office in the Southern District of New York and the FBI’s New York office released information about a ..read more