There are several fraud related crimes in Minnesota, all of which include making some type of fraudulent statement. Two of the most common are described below.
Minnesota Mortgage Fraud
According to the FBI, mortgage fraud is growing and has become a significant priority in its Financial Crimes Report. Leading up to the latest recession, a lot of mortgage fraud has been identified and some of that mortgage fraud contributed to the problems the financial sector has seen. Mortgage fraud is committed in a number of ways. There are several elements that are involved and they include: misstatement, misrepresentation, or omission of important information relating to the mortgage itself. This fraud can be committed on the end of the one applying for the mortgage or the financial institution itself.
Minnesota Insurance Fraud
Insurance fraud consists of a variety of fraudulent activities. These activities are committed by individuals who are applying for insurance, the policyholders, third parties, and even the professionals related to insurance transactions. If you have been charged with some kind of insurance fraud, such as “padding” an actual claim or inflating your claim in order to establish a lower premium or issue policies, then you need a Minnesota insurance fraud lawyer to help you with your case.
Please visit our credit card fraud section for more information on this type of crime.
Penalties
There are several penalties that can result. The severity of the penalty depends on the value of the fraudulent transaction and any other incidents that occurred. Penalties can include:
- Jail time
- Fines and fees
- Probation
- Property forfeiture
- Restitution
Minneapolis Criminal Defense
The attorneys at Sieben Edmunds are experienced in providing effective representation to those who have been accused of fraud. While working with a number of firms in Minnesota, the attorneys at Sieben Edmunds have developed aggressive strategies for defending these cases to ensure you receive the best possible outcome in your case. If you’ve been charged with fraud, the attorneys at Sieben Edmunds can help you understand your legal rights and the potential defenses available in your case.