Hialeah White Collar Crime Defense Attorney

Fraud charges in Hialeah FL

Fraud refers to any intentional misrepresentation someone makes with the intent to obtain something of value. Some examples of different types of fraud cases we handle in South Florida are:

• bank fraud
• mortgage fraud
• credit card fraud
• PPP loan fraud

TYPES OF BANK FRAUD IN FLORIDA

Bank fraud is any type of deceptive scheme that involves any financial institution, whether or not the financial institution is a bank. Victims of bank fraud can be bank customers, businesses of all sizes, and the financial institutions themselves. Some common types of bank fraud are:

• account takeover
• ATM fraud
• new account fraud
• check fraud

Account takeover occurs when a fraudster obtains a victim’s account information. Fraudsters often use phishing schemes to lure victims into unknowingly providing their banking log-in credentials to criminals. Potential victims receive an email that appears to come from a legitimate banking institution. The email creates the impression that the recipient must take immediate action by logging into his or her account by clicking a link that is enclosed in the email. When the potential victim clicks the link, he or she will arrive at a website that resembles a financial institution’s official website. If the potential victim tries to log into the website by entering his or her credentials, the fake website stores the victim’s log-in credentials. The fraudsters retrieve the log-in credentials and use them to access the victim’s account through the banking institution’s legitimate website.

ATM fraud can happen in several different ways. Fraudsters are more likely to target ATMs that are located outside, away from banking institutions and mostly unmonitored. Card skimming occurs when fraudsters install their own card reader over the standard reader that is built into the machine. When an unsuspecting customer uses the ATM, the fraudulent card reader captures the customer’s card information. Fraudsters are able to retrieve the customer’s information from the card reader and use the information for illegal purposes.

Fraudsters open new bank accounts by using their own information, stolen data, or entirely fictitious personal information. If the fraudster is able to bypass the bank’s security screening, he or she will establish a new account, open lines of credit, and max out the credit.

There are several varieties of check fraud. Some common check fraud schemes involve:

• creating counterfeit checks
• forging a signature on a stolen check
• altering the information on a legitimate check
• washing checks with chemicals and writing new payment details on the check
• sending potential victims a fake check and requesting a portion of the deposited amount (lottery scam)

If you are accused of bank fraud, you need formidable legal representation. Contact us to learn how a Florida defense attorney can challenge a bank fraud accusation.

MORTGAGE FRAUD CASES

Mortgage fraud occurs when someone who is involved in a real estate transaction intentionally commits an act of deception during the mortgage loan process. There are two types of mortgage fraud: fraud for housing and fraud for profit. Both varieties or mortgage fraud occur in Hialeah and throughout Florida.

Fraud for housing occurs when someone who is applying for a mortgage loan intentionally falsifies information on the application. People who provide false information on mortgage loan applications typically falsify:

• employment information
• income information
• assets
• the applicant’s name or other personal details

People typically engage in fraud for housing with the objective of getting approved for a loan, getting a better interest rate on a mortgage loan, or qualifying for a larger loan. Investors engage in fraud for profit by using a straw buyer who applies for a mortgage loan on a property in which the investor is interested. Banks are more inclined to extend more favorable rates to buyers who will be using the property as their personal residence. To help the investor take advantage of a more favorable rate, the straw buyer misstates his or her intention behind purchasing the property. When the straw buyer closes on the transaction and purchases the property, the straw buyer immediately transfers the property to the investor.

Fraud for profit always involves people who are real estate industry insiders. Mortgage loan officers, real estate agents and brokers, and appraisers sometimes collude to artificially inflate the value of properties. When an interested buyer pays the inflated asking price, the real estate professionals who are involved in the scheme divide the illegal profit among themselves.

HIALEAH CREDIT CARD FRAUD

Credit card fraud includes fraudulent schemes that involve any payment card, including debit cards and prepaid cards. In earlier days before modern credit card machines, fraudsters had to physically steal the credit card, credit card statements, or receipts that contain card information. Today, fraudsters use digital means to access victims’ credit card accounts and conduct transactions or order new cards in the customer’s name.

ATTORNEY FOR PPP LOAN FRAUD INVESTIGATIONS

During the global COVID-19 pandemic, the federal government implemented the Paycheck Protection Program (PPP) to extend loans with very favorable rates to business owners. The loans were intended to cover businesses’ payroll costs while shelter in place orders were effective. Fraudsters seized the rapid rollout of the program and the use of private entities to help with the verification process for the loans as an opportunity to conduct lucrative schemes. Overall, the federal government estimated that it lost several billions of dollars to PPP loan fraud. Now that the pandemic is behind us, the federal government has increased its investigative efforts against PPP loan fraud and has even prosecuted some fraudsters.

Embezzlement defense in Hialeah

Embezzlement is a type of theft that involves a fiduciary duty. Florida does not have a separate embezzlement statute. Instead, the state prosecutes embezzlement cases under the state’s general theft statute. A fiduciary duty typically arises from a relationship that is based on employment or a transaction that occurs between a business and its customer. However, there can be other types of fiduciary relationships in which embezzlement occurs. Some examples of embezzlement are:

• a car dealership employee who steals cars from the dealership and sells the stolen vehicles in private sales
• a club treasurer who uses the club’s money to build a new deck at his home
• a federal government employee who uses taxpayer money for personal expenses without authorization
• a cashier who takes cash from the cash register at work without authorization

In some instances, the person who is in a position of trust may accidentally convert the victim’s property because the accused party believes he or she is authorized to take the property for personal use. In these instances, a court is less likely to convict the individual on a charge of embezzlement. If you are accused of embezzlement, a Florida white collar crimes defense lawyer may be able to help you prove your lack of intent to embezzle the property in question.

South Florida Ponzi schemes

Ponzi schemes are often operated by people who are finance professionals. However, instead of encouraging their clients to invest in legitimate opportunities, the schemer pitches a fictitious investment. The telltale signs of an investment-based Ponzi scheme is the promise of an unusually high rate of return with minimal risk. Other varieties of Ponzi schemes resemble multi-level marketing programs.

Early victims who participate in an investment-based Ponzi scheme are often able to make what appears to be withdrawals from their profits. They may also receive statements that give the scheme the appearance of legitimacy. Victims who are able to make withdrawals are more likely to recommend the scheme to others who also become victims. Ponzi schemes depend on the schemer’s ability to continue to attract more investors to support the scheme.

Eventually, victims discover that they are no longer able to make withdrawals and they stop receiving statements. When the victims try to contact the schemer, they realize he or she has changed his or her contact information and likely left town.

Money laundering in South Florida

Every criminal enterprise needs a process through which they can clean “dirty” money. The money laundering process consists of three phases. Each phase further disguises the illegal activity through which the criminal organization received the illicit proceeds. Some transactions criminal organizations use to conceal their criminal activity include:

• placing the money directly into cash-based businesses
• gambling
• trading stocks
• using international wire transfer services
• smuggling cash into foreign countries
• purchasing cryptocurrency
• purchasing real estate
• purchasing recreational vehicles
• purchasing high-end artwork

Not only do investigators focus on members of the criminal organization that launders the money, but the people and entities that engage in transactions with criminal organizations may also be investigated and charged. If you have been contacted regarding a money laundering investigation, protect yourself by retaining a Hialeah money laundering defense attorney.

Defense lawyer for Hialeah white collar crimes

There is nothing glamorous about white collar crime. Although white collar schemes have become more sophisticated with technological advancements, investigators have become more advanced in the strategies they use to track white collar crime. In some cases, people may find themselves unexpectedly under investigation for a white collar offense. Whether you have been formally charged or if you are under investigation, it is never too early to contact a Hialeah white collar crimes defense attorney. Joffe Law is Florida’s trusted criminal defense firm for white collar cases. We are committed to protecting our clients’ rights and providing strong legal defense at every step in the criminal process. Contact us today to request a case evaluation.