Whether it is filed in state or federal court, an Indianapolis resident who is facing a fraud charge is facing a very serious affair. Depending on the circumstances, a conviction for any type of fraud can land a person in prison for years. It also can mean additional years on probation, the terms of which can include having to pay back every penny of restitution on the pain of going back to jail.
Some residents of the Indianapolis area who pay attention to the news may from time to time hear stories about how a high-powered business executive or even a wealthy individual who happens to invest gets netted in allegations of insider trading. Unfortunately, a person does not need to be a high-roller on Wall Street to be at the center of insider trading allegations. Contrary to what might be a popular image, insider trading does not need to involve "cooking books," shredding documents and the like. It can happen in the course of behavior that, on the surface, is as innocent as a phone call to a friend.
Many people in Indiana may have heard of "Ponzi schemes" and other types of embezzlement, but they may not have a clear idea of what exactly constitutes embezzlement. When a person has legal responsibility over business assets, bank assets, trust assets or other assets belonging to someone else, but then uses those assets illicitly for their own personal gain, this constitutes embezzlement.
In a city that is about an hour from the Indianapolis area, two more people have been arrested in ongoing federal probe of what are allegedly shady business deals involving many in the local government.
Even if they have heard the term used in media reports or even in the movies, some Hoosiers may not know what exactly a Ponzi scheme is.
The scary thing about many white collar crimes is that, in many cases, an upstanding Indiana resident can find themselves on the receiving end of criminal charges for what from their perspective was simple carelessness. In other cases, someone who thought he or she was just doing what everyone did, saving time, or the like will wind dealing with a criminal accusation of fraud.
Gun crimes are a hot topic in the nationwide news these days, and the Indianapolis area is no exception. Sometimes, there is more to an alleged crime than just the act of violence. In some cases, federal investigators will track down a gun's origin. These types of investigations are closer to the investigation of a white collar crime than a crime of violence.
Several auto salvage businesses in our state purchase wrecked automobiles, make certain repairs, obtain a salvage title for the cars and sell them to the public. Obtaining a salvage title though, requires the signature of an Indianapolis police officer on a form that certifies that the officer has inspected the major components of the vehicle, confirmed that necessary repairs were made and verified ownership of these parts. But, an Indianapolis police officer has recently been charged with a white collar crime for attempting to subvert this process for his own financial advantage.
Prosecutors in Marion County have revealed the results of a three-year long investigation into the owners of a chain of Teppanyaki restaurants in central Indiana. The owners are suspected of underreporting cash sales and, thereby, avoiding sales taxes. Investigators in the Marion County's office did not reveal many details of their investigation, but they pointed to their recently increased efforts to crack down on white collar crime.
White collar crime can take many forms. One of the most common is fraud, the misrepresentation of a material fact to induce reliance by the victim. The recent arrest of an Indianapolis woman on suspicion of theft and fraud provides another example of this type of crime.