A LOOK AT COMMON FRAUD SCHEMES

Fraud is a type of white collar crime. It involves the use of misrepresentation for the purpose of attaining financial gain. Some of the common types of fraudulent schemes include telemarketing fraud, racketeering, and tax evasion.

If you’ve been accused of any type of white collar crime, you should promptly retain the services of a defense attorney who can begin developing a sound white collar defense in the Maryland and D.C. areas. At a criminal law firm, you’ll find the resources you need to defend your legal rights and improve your chances of acquittal.

Tax Evasion

Tax evasion, or tax fraud, often involves the failure to pay income taxes or the failure to pay the full balance due. This might be accomplished by falsely reporting information on an income tax return, such as by overstating tax deductions or by understating taxable income. A conviction of tax evasion can result in a long period of incarceration and significant fines. Talk to a defense attorney about your legal options if you’ve been accused of this type of fraud.

Racketeering

Under the Racketeer Influenced and Corrupt Organizations (RICO) Act, which was passed in 1970, individuals or groups of people may be charged with this type of fraud. The RICO Act was enacted in an effort to fight organized crime. The charge of racketeering refers to any illegal activity that is performed for the financial gain of a criminal enterprise . Some examples of these activities may include money laundering, loan sharking, bribery, obstruction of justice, and extortion.

Telemarketing Fraud

Due to the prevalence of telemarketing fraud, consumers should be wary of making any purchases over the phone, even from companies that may appear to be legitimate. Telemarketing fraud typically involves the attempt to obtain an individual’s credit card number or other personal information under the ruse of an investment scheme, charity, or lottery. Sometimes, individuals perpetrating telemarketing fraud use the names of legitimate charities, businesses, or other organizations in an attempt to obtain personal information.