We all know that investments have the potential to provide us with huge gains and profits; however, investments come with many risks. There is no guarantee that one will profit; nonetheless, we are under the impression that the investments we enter into are at least legitimate. Unfortunately, some investments are scams; one of which being a Ponzi scheme.
Buying and selling shares of stock is common task for companies, shareholders and investors. Buying and selling stock can be very lucrative and a way to make profitable investments. However, there is a process that must be followed when trading stock. The failure to do so could but an individual or corporation at risk of criminal penalties stemming from fraud. Those accused of insider trading could endure harsh penalties if convicted, thus it is important to understand when this is considered illegal and what it exactly entails.
Being accused of a financial crime can be difficult, especially if the crime was unintentional. With regards to tax fraud, individuals could face criminal charges for failing to properly file for their taxes. Because not everyone uses an accountant, this means individuals file their own taxes. In these cases, mistakes can be made. However, only if the individual seeks to evade taxes or defraud the IRS will a tax fraud charge hold up.
In our lines of work, we are expected to meet a certain standard and obligation. The failure to meet this duty could mean liabilities. Depending on a person's career, this could mean being written up, repercussions or even being fired. It could also mean criminal consequences. When professionals, such as doctors, fail to act properly in their role and take financial advantage of others, this could result in fraud charges. Those accused of committing fraud in their workplace could face serious penalties in addition to a damaged personal and professional reputation.
While any criminal allegation has it consequences, some crimes carry with them personal and professional harms as well. Even if a conviction does not result, a person's reputation could be hurt. Thus, those accused of such a crime, like any crime, should take timely action to understand their situation and what defense options could be available.