Most commonly referred to as “white collar” crimes, financial crimes include a variety of charges that involve identity, money or insurance. While more newsworthy cases involve high level executives within large corporations, most people charged with a financial crime are unaware of their involvement. Even so, the heavy-handed penalties handed down by the court system and made public in the headlines are applied across the board regardless of the level of involvement. If you believe you’ve been wrong accused of a financial crime, you need a Cincinnati defense attorney you can trust to understand the prosecution’s strategy and firmly defend your involvement.
The Wieczorek Law Firm defends clients throughout the greater Cincinnati area against financial or “white collar” crimes.
Financial Crimes Overview
Various parts of the Ohio Revised Code deal with white collar crimes. Updates to the code are likely as technology continues to evolve, so it is crucial that your attorney understand the most updated aspects of the law and the prosecution’s strategy. The success of your case will primarily rest on the severity of the crime and who you’re accused of committing the crimes against.
Common Financial Crimes
Forgery
The Ohio Revised Code states that forgery involves a person who “with purpose to defraud, or knowing that the person is facilitating a fraud, forges another person’s writing without their authority, forges any writing to make it appear genuine, forges an identification card, or sells a forged identification card.” The penalty if convicted of forgery range from fourth-degree felony to second-degree felony based on the value of what was lost by the victim and whether or not the victim was elderly or disabled.
Identity Fraud
The Ohio Revised Code states that identity fraud involves a person who “without the express or implied consent of the other person, uses, obtains, or possesses any personal identifying information of that person with the intent to hold the person out to be the other person or represent the other person’s personal identifying information as the person’s own personal identifying information.” Penalties for an identity fraud conviction range from a fifth-degree felony to a first-degree felony based on the value of what was obligation involved and whether or not the victim was elderly or disabled.
Medicaid Fraud
The Ohio Revised Code states that Medicaid fraud involves a person who “knowingly makes or causes to be made a false or misleading statement or representation for use in obtaining reimbursement from the Medicaid program.” The penalty if convicted of Medicaid fraud ranges from first-degree misdemeanor to third-degree felony based on the value of the funds obtained.
Insurance Fraud
The Ohio Revised Code states that insurance fraud involves a person who “with purpose to defraud or knowing that the person is facilitating a fraud, either presents or causes to be presented to an insurer any written or oral statement that is part of or in support of an application for insurance, a claim for payment pursuant to a policy, or a claim for any other benefit pursuant to a policy, or assists, aids, abets, solicits, procures, or conspires with another to prepare or make any written or oral statement that is intended to be presented to an insurer as part of, or in support of, an application for insurance, a claim for payment pursuant to a policy, or a claim for any other benefit pursuant to a policy.” The penalty if convicted of insurance fraud ranges from first-degree misdemeanor to third-degree felony based on the value of the amount of the claim.
Extortion
The Ohio Revised Code states that extortion involves a person who “with purpose to obtain any valuable thing or valuable benefit or to induce another to do an unlawful act, threatens to commit any felony, threatens to commit any offense of violence, violates §2903.21 or §2903.22 of the Ohio Revised Code, or utters or threatens any calumny against any person.” Extortion is charged as a third degree felony.
Engaging in Corrupt Activity
The Ohio Revised Code states that a person is participating in or conducting corrupt activity when they, “are employed by or are associated with any enterprise, acquires or maintains, directly or indirectly, any interest in, or control of, any enterprise or real property through a pattern of corrupt activity or the collection of an unlawful debt, or knowingly receives any proceeds derived, directly or indirectly, from a pattern of corrupt activity or the collection of any unlawful debt.” Penalties for engaging in corrupt activity range from a second degree felony to a first degree felony based on the degree of the activity.
Financial Crimes Penalties
Based on the classification of the financial crime you are accused of, you may be subject to the following sentence and/or penalty:
First-Degree Misdemeanor
Maximum sentence of 180 days in jail and fine of up to $1,000
Fifth-Degree Felony
Maximum sentence of 12 months in prison and fine of up to $2,500
Fourth-Degree Felony
Maximum sentence of 18 months in prison and fine of up to $5,000
Third-Degree Felony
Maximum sentence of five years in prison and fine of up to $10,000
Second-Degree Felony
Maximum sentence of eight years in prison and fine of up to $15,000
First-Degree Felony
Maximum sentence of 11 years in prison and fine of up to $20,000
Financial Crimes Defense Strategy
Not only can being convicted of a white collar crime lead to fines and prison time, but being charged – even falsely – can ruin your reputation. Time is not on your side when it comes to forming a defense strategy against being charged with a financial crime and they could lead to criminal charges.
Common defense strategies include: a Constitutional rights violation, duress, entrapment, hearsay, illegal search and seizure, lack of evidence, misidentification, and no criminal intent. The success of your case depends on hiring the right team to fight for you – a team that truly understands how the prosecution will present your case and thoroughly dissect problem areas.