Regulated by the Securities and Exchange Commission (SEC), securities fraud can have major repercussions for both the investors that it impacts and the person who commits the fraud. When the SEC discovers that there may be a violation of federal securities laws, it may investigate the matter and make criminal recommendations based on the outcome. If you are facing an investigation or criminal charges, you need to consult a Staten Island securities fraud lawyer to protect your rights.
At The Vitaliano Law Firm, our attorney understands how significant these white collar crime charges could be. Not only could you face criminal penalties, but you may be ordered to pay damages or be forbidden from working in certain industries. No matter the circumstances of your Staten Island, NY case, our attorney can fight aggressively on your behalf to ensure that you receive the defense you need.
Securities fraud does not have an all-encompassing definition. It is a term that is applied to a variety of charges. Those charges commonly associated with securities fraud include:
This list does not encompass all types of charges, but it represents some of the most common. These charges, and those similar, all share the common practice of providing false information for the purpose of deceiving others. This is done to force them to purchase or sell a product based on that false information.
Unfortunately, for those accused of securities fraud, its broad definition makes an accusation very easy and quite common. Because of its unclear nature, any public statement could be deemed a misstatement or omission, resulting in an accusation and subsequent investigation. In some cases, individuals unaffiliated with a company have caused investigations into said company.
Any accusation or threat of investigation should be followed by contacting an attorney with the experience and knowledge to support you. The Vitaliano Law Firm can do just that.
Generally speaking, securities fraud is most associated with those who work in the financial industry. They are often associated with companies and organizations that do business in that field. Often, those accused of securities fraud include:
While these individuals could be held accountable for securities fraud, companies as a whole could also be held accountable for such behaviors. When companies issue annual reports that are falsified, for example, the company itself could be held liable, as the report represents the entire organization and not just the actions of one individual. When companies are held accountable, any individual within the company that is involved in the act of fraud may specifically be held accountable.
The penalties that you could face if you are convicted of securities fraud are determined by the circumstances of the crime. For these types of cases, the number of times that each violation occurs could carry with it a separate charge. This means that you could face compounded sentences if convicted. Time in prison could be part of the penalties that you might receive, with prison terms ranging between 5 and 20 years for each violation.
In addition to a lengthy prison term, you could face substantial penalties as well. These fines could cost millions of dollars, with individuals facing fines of up to $5,000,000 and companies facing up to $25,000,000. In some cases, those convicted may also be ordered to pay restitution to any victims of the fraud.
A: Securities fraud is a white collar crime. It is defined as an intentional misrepresentation or omission of information that is designed to influence a person or entity to sell or purchase a product. It is generally committed by those in the financial industry who can influence investments and stock options.
A: The circumstances and exact charges of your crime will determine the sentencing that you could face. However, securities fraud convictions come with penalties that range from 5 to 20 years in prison per violation. In addition, you could face significant fines. Individuals could be fined up to five million dollars, and companies could be fined up to twenty-five million. This does not include any restitution that you may be ordered to pay.
A: Securities in law refers to the broader range of financial tools that influence investors’ rights to income, rights to vote, or other such benefits. It mainly deals with financial instruments, such as stocks and commodities. To be considered fraud, it must be an intentional decision to deceive others for personal or company gain at the cost of the victim or victims.
A: Those who are the victims of security fraud are legally allowed to file a civil claim against the violating individual or company. This usually finds investors suing brokers or other financial firms for misrepresenting information, which influenced the way that the investor chose to support them financially. Claimants often include those who are victims of insider trading or other market manipulations.
If you or your company has been accused of securities fraud, get the protection that you deserve. The team at The Vitaliano Law Firm has the experience and knowledge that you need to provide the defense that you deserve. We fight aggressively on your behalf and build a strategy that fits the unique circumstances of your case. Contact us today for a consultation.