White collar crimes, which include many types of financial matters, can sometimes fall under federal jurisdiction. There are many different factors that come into the picture when the authorities are determining what entity is going to handle the case.
One point that matters in these cases is what type of crime was committed. Not all white collar crimes are the same. Whether you are facing charges from the state or looking at a federal case, you need to make sure that you understand why you were charged with specific crimes.
In the most basic terms, identity fraud means representing yourself as someone other than your true identity. This can be done for a variety of purposes, including to get money or credit. It can also be done to try to cover up other crimes. It is always best to use your own name, Social Security number, birth date and other identifying information since trying to use someone else’s for any purpose can lead to identity theft charges.
Failing to provide accurate information on a mortgage application can result in mortgage fraud charges. The untruths can be on the part of the applicant or anyone involved in the process. In some cases, people involved in the issuance of mortgages will create entire applications from nonexistent people in order to boost their numbers and make more money. This can harm others because those mortgages are actually shams that won’t ever be paid off.
Tax related crimes
Trying to hide income or making blatant omissions or additions to your income tax returns is considered tax fraud. Failing to file tax returns at all when you know you need to file is considered tax evasion. Both of these situations have to involve willful acts. Simply making a calculation error or something similar won’t land you in hot water.
Money laundering occurs when a person takes money that was earned illegally and tries to funnel it through a legal business to make the money appear to have been made within the scope of the law. Specific laws require that banks and financial institutions report any deposits over a specified amount, so this is sometimes the clue that a situation needs to be investigated.
Choosing a defense strategy carefully is necessary in these cases. There is often a lengthy paper trail with these cases so you need to act quickly to have time to vet the situation and determine how to proceed.