Business Fraud

Phoenix Business Fraud Lawyer

Federal business fraud refers to fraudulent activities committed in the context of business transactions that fall under federal jurisdiction. It involves deceptive practices, misrepresentation, or illegal activities perpetrated by individuals or organizations with the intention to gain an unfair advantage or financial benefit at the expense of others.

Here are some common examples of federal business fraud:

  1. Securities Fraud: This includes fraudulent activities related to buying, selling, or trading securities. It may involve false or misleading statements, insider trading, market manipulation, or Ponzi schemes.
  2. Corporate Fraud: Corporate fraud encompasses a range of fraudulent practices carried out within a company or organization. This can include accounting fraud, falsification of financial statements, bribery, embezzlement, kickbacks, or other forms of corruption.
  3. Tax Fraud: Tax fraud involves intentionally evading or manipulating tax obligations to reduce tax liability. It can include underreporting income, inflating deductions, creating false documentation, or using offshore accounts to hide income.
  4. Healthcare Fraud: Healthcare fraud involves fraudulent activities in the healthcare industry, such as billing for services not provided, kickbacks, upcoding (billing for more expensive services than actually rendered), or providing unnecessary medical procedures or treatments.
  5. Government Contract Fraud: This occurs when individuals or businesses defraud the government by submitting false information, overbilling, providing substandard goods or services, or engaging in bid-rigging or collusion in government contract procurement processes.
  6. Bankruptcy Fraud: Bankruptcy fraud involves illegal activities during the bankruptcy process, such as concealing assets, providing false information, or improperly transferring assets to avoid creditors.
  7. Intellectual Property (IP) Fraud: IP fraud involves the unauthorized use, theft, or misappropriation of intellectual property, such as trademarks, patents, copyrights, or trade secrets.

Federal business fraud is typically investigated and prosecuted by federal agencies such as the Federal Bureau of Investigation (FBI), the Internal Revenue Service (IRS), the Securities and Exchange Commission (SEC), and the Department of Justice (DOJ). If convicted, individuals or organizations involved in federal business fraud can face severe penalties, including fines, restitution, forfeiture of assets, and imprisonment.

If you suspect or have information about federal business fraud, it is important to report it to the appropriate authorities, such as the respective federal agency responsible for investigating that specific type of fraud or the DOJ’s Fraud Section. Providing detailed and accurate information can assist in the investigation and prosecution of federal business fraud cases.

Phoenix Federal Crimes Defense

All in all, mistakes can happen and they do. If a mistake happened, Myles A. Schneider knows how to prove that the act that occurred was a mistake. However, there are times when there may be evidence that one business purposely hurt another or that an employee did steal from their own company. If that’s the case, you can expect the details from the case to be independently investigated so that the proper end result can be reached. The proper end result is not always the maximum penalties, even if a person is guilty.

Contact An Arizona Business Fraud Attorney

A charge of business fraud is very serious, so it is important that you have a competent attorney by your side throughout the entire case. This means it is good to make the call the moment you find out you are being investigated. To find out more about how Myles A. Schneider can help you, call 602-926-7373 to schedule a free consultation.