What Are The Most Common Federal Fraud Crimes in The United States?

Facing federal fraud charges can be daunting and overwhelming. At Burnham & Gorokhov, we specialize in defending individuals under investigation or charged with federal fraud crimes. Here, we review the most common types of federal fraud crimes, offering a brief summary for those who may be under investigation or have been indicted for fraud by the federal government.

Securities Fraud

Securities fraud involves deceptive practices in the stock market or other financial securities markets. This can include insider trading, accounting fraud, or misrepresentation of information to investors. One example of securities fraud is a Ponzi scheme, where investors are promised high returns but are paid with the money from new investors rather than actual profits.

Healthcare Fraud

Healthcare fraud occurs when individuals or entities defraud healthcare programs such as Medicare or Medicaid by submitting false claims for reimbursement. This can involve billing for services not rendered, upcoding (billing for more expensive services than actually provided), or kickbacks in exchange for patient referrals. A common example is billing for unnecessary medical procedures or services.

Bank Fraud

Bank fraud involves obtaining money or property from a financial institution through fraudulent means. This can include forging checks, falsifying loan documents, or using false pretenses to obtain loans or lines of credit. Mortgage fraud, where individuals misrepresent information on mortgage applications to obtain loans they would not otherwise qualify for, is a prevalent form of bank fraud.

Wire Fraud

Wire fraud encompasses any fraudulent scheme that uses interstate wire communications, such as phone calls, emails, or electronic transfers, to defraud victims. This can include schemes to deceive individuals into sending money or personal information under false pretenses, such as lottery scams or phishing schemes. Wire fraud charges can be brought in conjunction with other fraud offenses.

Tax Fraud

Tax fraud involves intentionally evading or underreporting taxes owed to the federal government. This can include filing false tax returns, underreporting income, or claiming improper deductions or credits. Tax evasion schemes can be sophisticated, involving offshore accounts or shell companies to conceal income and assets from the IRS.

Top Rated Fraud Defense Attorneys

If you or someone you know is facing federal fraud charges or is under investigation for fraud, it’s crucial to seek experienced legal representation as soon as possible. At Burnham & Gorokhov, our federal criminal defense attorneys have the knowledge and expertise to mount a vigorous defense against fraud charges. We’ll thoroughly investigate the allegations, challenge the prosecution’s evidence, and fight to protect your rights and freedom.

Contact Burnham & Gorokhov today to schedule a case evaluation and learn more about how we can help you navigate the complexities of federal fraud charges.

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