No one ever wants to be accused of fraud, and like most in New York, you likely do not believe that you ever will be. Yet there are potential pitfalls in almost any line of work where disputes can often lead to such allegations. Many have come to us here at Sapone & Petrillo LLP having been accused of a specific kind of fraud: a pyramid scheme. These are often closely associated with multi-level marketing. If you happen to work in a field that incorporates the latter, you should know what distinguishes them.
Insurance fraud is a big deal. Because this type of white-collar crime happens so often, insurance companies take very specific steps to identify fraud in all its forms to ensure the person responsible is caught and brought to justice. HowStuffWorks.com explains some of the ways insurance adjusters look for fraud.
Residents in New York know how essential the public transit system is to make things work in and around New York City. Keeping on top of maintenance, repair and modernization needs certainly is no small task. This task, in fact, is exactly why union officials and some others are asserting that the Metropolitan Transportation Authority saw a major spike in the amount of money paid out in overtime to employees in 2018.
Cases of wire fraud are common in New York and throughout the country. It is important to understand what constitutes wire fraud and some warning signs to be able to identify when it occurs.
When discussing fraudulent schemes to illegally obtain money from unsuspecting citizens, people in New York may mistakenly use the terms "Ponzi scheme" and "pyramid scheme" interchangeably. The confusion is understandable because both types of schemes function in a basically similar way. Each requires many investors to opt into it, each involves moving ill-gotten money around from person to person, and each inevitably collapses when it becomes too large to sustain itself, leaving only the original instigator with a profit. However, there are some fundamental differences that distinguish the two.
In New York, mail fraud is one of the most common federal charges that the average citizen will face. However, many people may not even be aware that mail-related crimes fall under the federal government’s jurisdiction. However, mail fraud is in fact a very serious deed that can result in you facing harsher penalties than you initially expected.
If you are like many people in New York, you may often struggle to understand some white collar crime charges. Most of these cases center around a person, a group of persons or a company earning a profit from their actions. This in and of itself is not only not illegal but is central to a healthy capitalist economy. The line between what is legal and what is illegal when it comes to making these profits can be quite thin and blurry at times.
The Internet offers you a wealth of opportunities to extend commercial endeavors far beyond New York City. Whereas in the past, if you had something to sell, you would typically only advertise the sale locally, you can now reach a national (or even international) purchasing audience. The exposure the Web offers also allows you to generate significant interest in what you have to sell, even to the point of creating a potential bidding war. Yet as many of those that we here at Sapone & Petrillo, LLP can attest to, overseeing an online auction should be done with caution.
Like many in New York, you might assume accusations of fraud to be limited to organizations operating in the professional, for-profit word. Your charitable work for a non-profit organization could certainly not be subject to such suspicions, right? That is what many of those that we here at Sapone & Petrillo, LLP have worked with believed, yet a lack of knowledge or poor management ultimately led to them facing fraud charges. How, then, can you avoid such penalties with your charitable organization?
The New York court system is no stranger to fraud cases, but a recent case involving bank loans to two media companies may prove difficult to prosecute because the banks who lent the money suffered no financial loss.