Being charged with committing fraud in Minnesota is a serious offense. It is a felony and a conviction can result in long prison sentences and stiff fines. In both state and federal courts, fraud may result because of many different actions.
Some frauds are obvious: Embezzling money from a company or knowingly making an application for credit that includes incorrect information are acts of fraud as is creating or promoting a Ponzi scheme. But the illegal act may be as simple as sending one email or mailing a letter. The most common forms of fraud are mortgage fraud, insurance fraud and credit card fraud.
Mortgage Fraud in Mendota Heights or Eagan
Investigating mortgage fraud in Minnesota is a top priority for the FBI and its Financial Crimes unit. Mortgage fraud can be committed in several different ways: Misstating or misrepresenting facts to obtain the loan, and omitting important information relating to the mortgage itself.
The fraudulent act could be committed against a financial institution or against the seller of a home who agrees to take part of the down payment as a loan to the buyer.
Insurance Fraud in Minneapolis, or St. Paul, Minnesota
Insurance fraud can occur when people apply for insurance, when third parties sell policies, or when a claim is filed. For example, some people inflate the value of a property they own to lower the premium. Other people will try to inflate the cost of repairing damage to their vehicle after an accident and pocket the difference or split it with the mechanic who agreed to participate.
Credit Card Fraud
The law generally defines credit card fraud as the unauthorized and knowing use of a credit card to acquire money, goods, services or the property of another person. Credit card fraud in Minnesota can take many different forms. For instance, if somebody buys a pair of shoes using someone else’s card without their permission, it is credit card fraud. Another example is making false statements about income or outstanding debt when applying for a credit card.
Penalties for a Fraud Conviction
A court has a number of penalties available to it when somebody is convicted of fraud:
Incarceration in jail or prison
Forfeiting of property
Making restitution to the victim
If You Are Being Investigated or Charged
The experienced fraud defense lawyers at Sieben Edmunds Miller know how to represent people accused of fraud. We develop an aggressive strategy for defending you, ensuring that you benefit from the most-favorable outcome as possible.
If you discover or believe you’re under investigation for mortgage, insurance, credit card or any other type of fraud, do two things: First, ask an experienced fraud crime attorney at Sieben Edmunds Miller to represent you. Second, say nothing to investigators without one of our lawyers present, whether the investigator is from the police, the FBI or the Securities and Exchange Commission, they are not your friends.