Did you know that 91.5% of people sentenced for securities and investment fraud in the United States were men?
Meanwhile, 92% were citizens of the U.S., 84.5% had little or zero previous criminal history before facing securities and investment fraud issues, and 22% of cases involved amounts north of $9.5 million.
Securities fraud is a non-violent white-collar crime where someone deceives investors into making financial investments resulting in losses. While white-collar crimes are often viewed as less serious than violent criminal offenses, the reality is that the former crimes can be just as devastating for the hapless victims.
Victims of white-collar crimes may lose their entire life savings and see their nest egg dwindle into an empty nest.
If accused of a white-collar crime like securities fraud, you need an internal investigations lawyer who can bring a successful white-collar defense. Securities and commodities fraud in the U.S. can lead to imprisonment of up to 25 years. So, that’s nothing to sneeze at.
Here are five things you should do if you’re on the receiving end of securities fraud charges.
1. Remain Silent
Regardless of what you may have been told, it’s best to avoid talking to law enforcement, investigators, and regulators without first retaining a criminal defense lawyer. Anything you say can and will be used against you. It’s never in your best interests to risk self-incrimination.
A lawyer can ensure your risks are not violated. Even the slightest slip-up can lead to undesirable consequences. Your Fifth Amendment rights are protected by the Constitution of the land. So, know when to stay quiet.
2. Retain an Experienced Securities Fraud Lawyer
Hiring a lawyer is a must if accused of a securities offense. But criminal law experience isn’t enough. You need a lawyer who handles white-collar crime cases involving securities fraud day in and day out.
It’s a complex area of law, and the penalties can be quite steep. So, what you want is a criminal defense lawyer who has a deep level of knowledge in the financial regulations space.
3. Preserve All Essential Documents and Evidence
You’ll get into more trouble than you can deal with if you’re not careful with documents and evidence related to the charges or allegations.
Destroying, hiding, or altering contracts, emails, trade logs, or other related things can — if uncovered — lead to obstruction charges. It’s best to be honest and hold on to any relevant documents or evidence. If you’re innocent, these things can back up your version of events.
4. Avoid Discussing or Sharing Info About Your Case
It’s also worth noting that sharing details about your case is a no-no. That means, no, you shouldn’t provide family, friends, or anyone else who is not your lawyer any information about the case.
And if you like to share details about your life on social media, it’s best to avoid posting anything about the case online. Anything you put out there can be used against you. Before doing anything that might jeopardize your case, run it by your lawyer. That’ll keep you out of trouble.
5. Safeguard Your Personal and Business Holdings
If facing securities fraud charges, you must safeguard your personal and business assets. Ask your lawyer how to reduce the risk or impact of fines, asset freezes, and other potential issues. The goal is to protect your finances using legal means.
If facing securities fraud charges, you must contact a lawyer specializing in that area of the law. A good lawyer will help you navigate the complex maze of securities law and help you get through the process in one piece.