Answering Your FAQs About Federal Fraud Charges in New York

Answering Your FAQs About Federal Fraud Charges in New York

If you or a loved one is facing federal fraud charges in New York, you likely have a lot of questions. I totally get it – this stuff can be confusing and scary. That’s why I put together this handy FAQ guide to walk you through the key things you need to know. I’ll aim to keep it simple and conversational, with some real-talk sprinkled in too.

What exactly are federal fraud charges?

Federal fraud charges are criminal charges brought by federal prosecutors (as opposed to state or local prosecutors) for offenses involving fraud or deception for illegal financial gain. Some of the most common federal fraud charges include:

• Wire fraud
• Mail fraud
• Securities fraud
• Bank fraud
• Healthcare fraud
• Identity theft

If convicted, federal fraud charges can result in hefty fines and many years behind bars. So ya, they’re serious business.

Why are there so many high-profile federal fraud cases in New York lately?

It does seem like we keep seeing big federal fraud cases coming out of New York these days. Recent examples include charges against Congressman George Santos, Sam Bankman-Fried, and a mass mailing fraud scheme targeting seniors. New York is a major financial hub — so more potential for big frauds. It’s also aggressive about going after financial crimes. And maybe some high-roller wannabe fraudsters are drawn to the glitz and glam of the Big Apple? Just my theories here.

How likely is it for federal prosecutors to get a conviction?

The federal conviction rate is no joke – we’re talking over 99% across all federal cases that go to trial. When it comes to financial crimes like fraud, federal prosecutors devote major time and resources to building rock-solid cases before ever filing charges. They know what they’re doing. So if you’re charged federally, you gotta take it seriously.

That said, every case is different. Just because the overall odds aren’t great doesn’t mean you don’t have a chance. A skilled defense attorney may still be able to negotiate a plea deal or even win at trial if there are weaknesses in the government’s case.

What are potential penalties for federal fraud convictions?

This varies a lot based on the specific charges and dollar amounts involved. But generally federal fraud sentences involve:

Christine Twomey

2024-03-21

Just had my Divorce case settled 2 months ago after having a horrible experience with another firm. I couldn’t be happier with Claire Banks and Elizabeth Garvey with their outstanding professionalism in doing so with Spodek Law Group. Any time I needed questions answered they were always prompt in doing so with all my uncertainties after 30 yrs of marriage.I feel from the bottom of my heart you will NOT be disappointed with either one. Thanks a million.

Brendan huisman

2024-03-18

Alex Zhik contacted me almost immediately when I reached out to Spodek for a consultation and was able to effectively communicate the path forward/consequences of my legal issue. I immediately agreed to hire Alex for his services and did not regret my choice. He was able to cover my case in court (with 1 day notice) and not only was he able to push my case down, he carefully negotiated a dismissal of the charge altogether. I highly recommend Spodek, and more specifically, Alex Zhik for all of your legal issues. Thanks guys!

Guerline Menard

2024-03-18

Thanks again Spodek law firm, particularly Esq Claire Banks who stood right there with us up to the finish line. Attached photos taken right outside of the court building and the smile on our faces represented victory, a breath of fresh air and satisfaction. We are very happy that this is over and we can move on with our lives. Thanks Spodek law 🙏🏼🙏🏼🙏🏼🙏🏼🙌🏼❤️

Keisha Parris

2024-03-15

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

2024-03-15

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence. Thank you team!

Anthony Williams

2024-03-12

Hey, how you guys doing? Good afternoon my name is Anthony Williams I just want to give a great shout out to the team of. Spodek law group. It is such a honor to use them and to use their assistance through this whole case from start to finish. They did everything that they said they was gonna do and if it ever comes down to it, if I ever have to use them again, hands-down they will be the first law office at the top of my list, thank you guys so much. It was a pleasure having you guys by my side so if you guys ever need them, do not hesitate to pick up the phone and give them a call.

Loveth Okpedo

2024-03-12

Very professional, very transparent, over all a great experience

Bee L

2024-02-28

Amazing experience with Spodek! Very professional lawyers who take your case seriously. They treated me with respect, were always available, and answered any and all questions. They were able to help me very successfully and removed a huge stress. Highly recommend.

divesh patel

2024-02-24

I can't recommend Alex Zhik and Spodek Law Firm highly enough for their exceptional legal representation and personal mentorship. From the moment I engaged their services in October 2022, Alex took the time to understand my case thoroughly and provided guidance every step of the way. Alex's dedication to my case went above and beyond my expectations. His expertise, attention to detail, and commitment to achieving the best possible outcome were evident throughout the entire process. He took the time to mentor me, ensuring I understood the legal complexities involved to make informed decisions. Alex is the kind of guy you would want to have a beer with and has made a meaningful impact on me. I also want to acknowledge Todd Spodek, the leader of the firm, who played a crucial role in my case. His leadership and support bolstered the efforts of Alex, and his involvement highlighted the firm's commitment to excellence. Thanks to Alex Zhik and Todd Spodek, I achieved the outcome I desired, and I am incredibly grateful for their professionalism, expertise, and genuine care. If you're in need of legal representation, look no further than this outstanding team.

Load more

Google rating score: 4.9 of 5, based on 736 reviews

• Prison time – Years or even decades behind bars are possible for major fraud schemes. The higher the losses caused, the longer the likely sentence.
• Fines – Can be as high as $250,000 per count or twice the amount of gains/losses.
• Restitution – Having to repay victims for their losses from the fraud.
• Probation – A set period of supervised release after doing prison time.

They may also seize assets obtained through the fraud. Bottom line – fraud convictions can totally upend lives.

What are common federal fraud defenses?

Pleading “not guilty” means your defense attorney can raise arguments like:

• You didn’t actually commit the fraudulent acts.
• You made a mistake but didn’t intend to defraud anyone (no criminal intent).
• The government can’t prove specific elements of the charges beyond a reasonable doubt.
• You were entrapped or coerced into committing the fraud.

An experienced white collar defense lawyer will thoroughly investigate the prosecution’s evidence and witnesses for any openings to attack. They may file motions trying to get certain evidence or charges thrown out too. Building an affirmative defense requires getting creative at times.

What’s the process for federal fraud cases?

Here’s the usual timeline if your federal fraud case goes all the way through the system:

1. Arrest & Indictment – This is when you’re taken into custody and the grand jury issues formal charges.
2. Initial Appearance – You go before a judge who explains the charges and sets bail.
3. Preliminary Hearing – The prosecution presents some evidence to show there’s good reason to move forward.
4. Pre-Trial Motions – Your lawyer files legal motions arguing to dismiss certain charges or evidence.
5. Trial – You present defense arguments and evidence to the jury (or judge in a bench trial).
6. Sentencing – If convicted, the judge gives you your “time” based on sentencing guidelines.
7. Appeal – You ask a higher court to review the conviction and sentence.

Most cases end in a guilty plea before trial, but this gives the basic process. Expect it to take many months at a minimum.

What’s it like to serve federal prison time?

I won’t sugar coat it – doing time in any federal prison is extremely tough. Some lowlights include:

• Lockdown for 23 hours a day initially.
• Tight restrictions on visits and phone calls.
• Constant surveillance and loss of privacy.
• Communal living with dangerous inmates.
• Bland food, lousy healthcare, and boredom.

White collar camps are a bit better than higher security facilities. But any federal time takes an enormous mental and emotional toll. Many find their relationships, health, and careers in shambles after just a few years inside.

What are your chances of appeal success?

Statistically, federal appeals courts affirm around 9 out of 10 criminal convictions. They know trial judges hate to be overturned. However, appeals in fraud cases do have better odds than average. Common appeal arguments by defense lawyers include:

• Violations of your rights and due process.
• Prosecutorial misconduct.
• Mistakes by the judge regarding evidence or jury instructions.
• Insufficient evidence to prove guilt beyond reasonable doubt.

Thoroughly scouring the trial record for appealable errors is so important. Even long shot appeals must be filed properly to preserve issues.

What factors help achieve better case outcomes?

While the feds have all the advantages, certain things can help level the playing field for fraud defendants, including:

• Getting experienced white collar defense counsel early.
• Negotiating from a position of strength by having an impressive legal team.
• Developing a full understanding of the prosecution’s strategy and evidence.
• Humanizing you in front of prosecutors and judges.
• Creative lawyering to find and exploit any case weaknesses.

The stakes are so high that you need top-notch representation and messaging from day one until the bitter end of sentencing. This stuff matters bigly.

What should you do if facing federal fraud charges?

Here are my tips if you or someone you know finds themselves accused of federal fraud crimes in New York:

1. Stay calm and get a referral to an experienced white collar defense attorney immediately.
2. Don’t talk about your case with anyone except your lawyer.
3. Follow your attorney’s advice about whether to testify or accept a plea deal.
4. Get character references from upstanding people to humanize you to the judge.
5. Be completely open and honest with your legal team no matter how awkward.