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White Collar Crimes Archives

Former New York mayor receives probation in wire fraud case

The former mayor of Cohoes, New York, was sentenced to probation after a conviction in a wire fraud case, avoiding prison time in the matter. The former mayor was accused of taking campaign contributions for personal use, and he pleaded guilty to one count of wire fraud in order to resolve the case. A federal judge sentenced him to 200 hours of community service and a $3,000 fine in addition to two years of probation.

Prosecutor says insider trading laws should be clarified

Individuals in New York and throughout the country could face jail time and other penalties for engaging in insider trading. However, there is no law that specifically says what insider trading is. A panel led by a former federal prosecutor says that the government needs to clarify what exactly constitutes insider trading. He claims that doing so could benefit traders, judges and those tasked with regulating financial markets.

The elements of bribery

Those who try to offer government officials something of value in exchange for favorable treatment may be engaging in bribery. In many cases, both the party giving the bribe and the party accepting the bribe can be charged with a crime. To prove that bribery occurred, a New York prosecutor would need to show that a person or entity intended to act in a corrupt manner.

Tech company accused of defrauding schools, government

One New York technology company owner is facing criminal charges after allegedly failing to provide computer equipment and internet service to the students attending Catholic schools in Brooklyn. The head of AutoExec Computer Systems in Long Island allegedly billed a federal program to aid underprivileged schools in enhancing their technical needs for hundreds of thousands of dollars of work that was not performed. Called the E-rate program, the initiative is designed to help libraries and schools to get better access to the internet, especially for children in poverty who are less likely to have reliable broadband service at home.

Tax evasion charges result in guilty plea

People who live in the state of New York and find themselves accused of criminal activity know that must make some important decisions. These decisions involve whether to hire a private attorney or to allow themselves to be represented by an attorney who works as a public defender. Another important decision that any defendant facing criminal charges must make at some point is how they may respond to criminal allegations.

Defining unlawful gifting

Given New York City’s deep connections with the corporate world, it is not uncommon for locals to hear stories of businesses executives getting in trouble for either giving or receiving gifts from those with whom there is the potential to do business. Most would refer to such actions with a single word: bribery. Yet does the fact that this activity can invite legal scrutiny mean that any form of corporate or professional gifting is unlawful? The answer to that question depends on the unique circumstances of each case. 

Is catfishing a crime?

In recent years, the term catfishing has been a subject of much concern when it comes to online interactions. This refers to a person impersonating another by using their pictures, which are usually obtained from social media profiles. The reasons behind catfishing can range from romantic pursuits to an intent to obtain money or other goods from a person using nefarious means. The legality of catfishing is up for debate and usually depends on the reasons behind the endeavor. 

What is a pump and dump scheme?

When you work in the financial markets, you quickly become familiar with just how volatile they can be. Communicating that to investors in New York can be a challenge, as they are often not acquainted with the subtle nuances that can lead to market fluctuations. Often all they understand is that you have invested their money for them based on what they may view as "a promise" of strong returns, when in actuality, while informing them of the potential benefits, you did indeed explain to them the risks. 

Examining the risk factors of financial fraud in an organization

When companies in New York start looking for new personnel to add to their pool of talent, their focus is often on the competencies those individuals can bring to the table. They look at their strengths, their previous work history and the results of their performance at past places of employment. Another critical characteristic they should be looking for is integrity. Without it, any company is at significant risk of experiencing circumstances that could ultimately lead to its downfall. 

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