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Types Of Accounting Fraud And Your Defense


When an individual is charged with accounting fraud, there will be a distinction between if the person is suspected of organized fraud or communications fraud. Both types of accounting fraud are connected with laws surrounding intent to defraud, meaning the party is seeking to obtain assets or property through false representation or statements.

If you have already been arrested or believe you are being scrutinized because an individual or party is moving to press charges, you need a legal professional on your side who knows how to establish an accounting fraud defense. Talk to a Clearwater criminal defense lawyer as soon as possible.

Florida Law and Defraud Schemes

There is a specific Florida statute when it comes to defraud schemes. Statute 817.034 outlines the crime of scheming to defraud.

  • There is an ongoing, systematic conduct being engaged in.
  • The conduct is done with the intent to obtain property or defraud a person or group of people.
  • False promises, pretenses, and representations are used, along with intentional misrepresentations.

Next, whether the fraud was organized or communications will be determined. If the fraud took place through bookkeeping or ongoing ledgers, it is organized fraud. An individual might misrepresent inventories or create a false impression of profitability for their own gain, for example.

But if the fraud takes place with the use of mail or information transmission, it is communication fraud. Federal charges are possible when federal mail is used. But other types of communication fraud may remain under Florida law.

Often the penalties you would be facing are in relation to the amount obtained as a result of the fraud. Lower amounts will lead to less severe penalties. Organized fraud of over fifty thousand dollars, for example, is a first degree felony. Because of this, up to 30 years in prison or 30 years of probation is possible, along with thousands of dollars in fines.

Situations Leading to Fraud Charges

There are situations in which fraud charges are more likely, such as when accounting controls are weak or there is an accounting environment that is not controlled properly. Additionally, miscommunication between an organization’s board of directors and executive team can lead to legal problems. Mismanaged audit committees may also carry fault.

It is common for accounting fraud to occur where proper protocols and record keeping have not been put in place. A Clearwater criminal defense lawyer is familiar with the ins and outs of white collar crime and will work to secure the evidence needed in order for you to have charges dismissed or reduced.

Do you fear you will be charged with accounting fraud? You need a criminal defense professional who understands how to build a viable defense. To connect with the experience you need and learn what options are available, talk to the lawyers at the King Law Group. Inadequate regulation could be to blame, and you should not have to take the fall when others were reckless. An attorney will help you understand your rights. Schedule your free consultation today.

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