An article from the Tribune Washington Bureau caught the eye of Michael Guisti concerning of increased investigations regarding allegations of insider trading and other stock-trading irregularities that could bring criminal charges or monetary fines against many by and large Wall Street executives and investors according to a Washington official. This type of investigation has been ongoing for several years and is likely as a result in prosecution of traders "around the country."
Are we seeing a new trend in white collar crime involving illegal insider trading and other stock-trading irregularities? Is it due to the recessionary times? Is it due to high unemployment? Is it due to heightened speculation in the real estate market involving inflationary appraisals and high foreclosures nationwide? According to Newport Beach fraud lawyer Michael Guisti, it is unknown why fraud, and white collar crimes including, but not limited to, bank fraud, wire fraud, securities fraud, identify theft and insurance fraud have increased. Understand that the number of filing of similar crimes have gone up from year to year.
As one U.S. attorney was quoted "Disturbingly, many of the people who are going to such lengths to obtain inside information for a trading advantage are already among the most advanced, privileged and wealthy insiders in modern finance. But for them, material nonpublic information is akin to a performance-enhancing drug that provides the illegal 'edge' to outpace their rivals and make even more money." Greed is the first word that comes to mind which describes the senseless act within which to be acted upon by these professionals.
Many professionals affected include consultants, investment bankers, hedge-fund and mutual fund traders and analysts among others.
Irvine Fraud lawyer Michael Guisti believes that a number of people to be arrested could rise to double digits in southern California.
According to the Newport Beach criminal attorney Michael Guisti, in California, white Collar crimes can be very serious. There is a wide variety of white collar crimes like real estate fraud, credit fraud, grand theft, identity fraud, embezzlement, and identity theft. A charge of fraud, let alone a conviction, can ruin the reputation of a person or company charged. Zealous legal representation is critical in fraud cases, as in all criminal cases. It is essential for an accused to seek help from a successful and experienced white collar criminal defense lawyer. Grand theft can be defined in the California Penal Code, section 487. Grand theft occurs when the amount of money, property, or merchandise amounts to more than $400. As such, this crime is considered a felony.
Most California white collar crimes are charged as felonies. It is imperative that if you are facing a white collar or fraud charges like embezzlement, securities fraud or grand theft to hire an experienced and successful Newport Beach white collar criminal defense attorney or Irvine fraud criminal defense attorney to help you defend your charge.
Why is it so important to retain a Newport Beach white collar criminal defense attorney or a Irvine criminal defense lawyer?
Since California fraud and white collar crimes are most often charged as felonies, the punishments can be long prison sentences, restitution and large fines. At the Law Office of Michael Guisti our skilled Orange County fraud criminal lawyers have been defending criminals that are facing fraud and white collar crime charges for years. We have been successful in helping clients in Orange County, Newport Beach, Irvine, Los Angeles County, Riverside County, San Bernardino County, and San Diego County.
If you have been accused of embezzlement, fraud or a crime, talk to Michael Guisti, an experienced lawyer first. The organization and understanding that comes with early preparation by a knowledgeable defense attorney can increase your chances of a favorable outcome, including the possibility of charges being dropped. Call Guisti at (714) 530-9690, 24/7. You'll be glad you did.
