New York Criminal Defense Blog

When most New Yorkers think of counterfeit crimes, fake money typically comes to mind. However, there are a myriad of ways one can carry out this federal crime. More recently, there has been a seizure of parking placards in the state -- an item that has fuelled a black market industry over the years. While the act seemed minor in some ways, the penalties for these types of crimes can be serious.

As The New York Times relayed in a report on the incident, 30 people faced various charges last October for possession of a forged instrument, criminal impersonation and other illegal practices. The New York residents had used fake placards that emulated official city-issued documents to park in special zones without paying the price of a ticket. Five of the 30 allegedly used handicapped zone passes; three others were accused of submitting copies of the false placards to the city's financial department. One official from the Department of Investigation considered the crimes an act of stealing the city's resources. 

Penalties attached to most drug-related crimes can quickly become mountainous. When these crimes involve narcotics, the repercussions can become all the more extreme. While New York has worked diligently to address the antiquated elements within its Rockefeller Drug Laws, the penalties can nevertheless be severe, resulting in charges that can affect a person's reputation and overall quality of life.

As of 2015, The New York Post reported that a small number of New Yorkers were still behind bars under strict Rockefeller drug laws. However, The Post remarked on the state's recent efforts to minimize the number of inmates locked up for nonviolent drug crimes. These laws have been critized for the strict ways they handle even small possessions of cocaine or marijuana. Although marijuana left the list of drugs in 1979 -- and reforms made in 2005 and 2009 did away with mandatory minimum sentences for the drug -- some inmates continue to serve time for such charges. 

When New York residents want to invest their money, they typically trust financial professionals to guide them through the process. Sometimes, though, someone may embezzle money instead of investing it. It is important for people to recognize different kinds of investment fraud and understand how they can protect themselves.

There are many types of investment fraud. SaveAndInvest.org says that sometimes people might use a kind called advance fee fraud to embezzle money. When people use this kind of fraud, they typically ask someone to pay a fee before they buy stock that is not worth much. In a pump-and-dump scheme, people sometimes think that a particular stock is favorable and purchase it at a high price. In this situation, though, the information about the stock was false, and people find that their stock is worthless.

Wise use of your money may include placing it in investment accounts in the hope of generating a strong return over time. However, if you are like most in New York, you are more than likely a "hands off" investor that leaves the management of your portfolio to a professional. There is wisdom in this; after all, the industry specific knowledge and experience a broker brings makes him or her more likely to develop a sound investment strategy. However, relying solely on him or her may open the door for fraud. One form of such fraud is known as "churning." 

What exactly is churning? Your broker makes commissions when he or she uses your money to execute sales and trades. Thus, he or she is incentivized to do so. Churning occurs when he or she engages in excessive trading to generate increased commissions. According to the Securities and Exchange Commission, a broker that has discretionary power over your investment accounts and effects transactions that are excessive "in view of the financial resources and character" of your account is guilty of fraud.