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Faced 5+ Years in Prison

People Vs Joseph Amico

Covered by NYDaily News. Las Vegas man accused of threatening a prominent attorney and making vile remarks.

Faced 10+ Years in Prison

People Vs. Anna Sorokin

Covered by New York Times, and other outlets. Fake heiress accused of conning the city’s wealthy, and has an HBO special being made about her.

Faced 3+ Years in Prison

People Vs. Genevieve Sabourin

Accused of stalking Alec Baldwin. The case garnered nationwide attention, with USAToday, NYPost, and other media outlets following it closely.

Faced Potential Charges

Ghislaine Maxwell Juror

Juror who prompted calls for new Ghislaine Maxwell trial turns to lawyer who defended Anna Sorokin.

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Meet Todd Spodek

WE PROVIDE WHITE GLOVE SERVICE TO CLIENTS
WHO WANT MORE FROM THEIR ATTORNEY

The Spodek Law Group understands how delicate high-profile cases can be, and has a strong track record of getting positive outcomes. Our lawyers service a clientele that is nationwide. With offices in both LA and NYC, and cases all across the country - Spodek Law Group is a top tier law firm.

Todd Spodek is a second generation attorney with immense experience. He has many years of experience handling 100’s of tough and hard to win trials. He’s been featured on major news outlets, such as New York Post, Newsweek, Fox 5 New York, South China Morning Post, Insider.com, and many others.

In 2022, Netflix released a series about one of Todd’s clients: Anna Delvey/Anna Sorokin.

Why Clients Choose Spodek Law Group

The reason is simple: clients want white glove service, and lawyers who can win. Every single client who works with the Spodek Law Group is aware that the attorney they hire could drastically change the outcome of their case. Hiring the Spodek Law Group means you’re taking your future seriously. Our lawyers handle cases nationwide, ranging from NYC to LA. Our philosophy is fair and simple: our nyc criminal lawyers only take on clients who we know will benefit from our services.

We’re selective about the clients we work with, and only take on cases we know align with our experience – and where we can make a difference. This is different from other law firms who are not invested in your success nor care about your outcome.

If you have a legal issue, call us for a consultation.
We are available 24/7, to help you with any – and all, challenges you face.

How Securities Fraud Charges Are Prosecuted in Queens

How Securities Fraud Charges Are Prosecuted in Queens

Securities fraud is a white collar crime that involves deceiving investors by manipulating the stock market. This type of fraud is often complex and can result in serious criminal charges at both the state and federal level. In Queens, New York, securities fraud cases are typically prosecuted by the Queens County District Attorney’s Office.

Overview of Securities Fraud

Securities fraud encompasses a wide range of illegal activities, such as Ponzi schemesinsider trading, making false statements on financial reports, pump and dump schemes, and improperly influencing stock prices through manipulative trading practices.Some common examples of securities fraud include:

  • Accounting fraud: Falsifying financial statements and reports to misrepresent a company’s financial health. This is done to boost stock prices or hide losses from investors.
  • Insider trading: Buying or selling stocks based on non-public information that is expected to impact a stock’s price once it becomes public. This undermines fairness in the markets.
  • Pump and dump schemes: Artificially inflating a stock’s price through false promotions, then selling shares for a profit before the price drops. This tricks investors into overpaying.
  • Churning: When a broker excessively trades in a client’s account to generate high commissions rather than act in the client’s best interest.

Investigating and Building a Securities Fraud Case

Securities fraud cases are complex white collar crime investigations that require financial forensics and analysis of documents like bank records, phone records, emails, and financial statements. Prosecutors in Queens typically pursue these cases in collaboration with regulatory agencies like the SEC and FINRA.To build a securities fraud case, prosecutors go through various steps such as:

  • Receiving a referral: Securities fraud cases often begin with a complaint or referral from a regulatory body that detected suspicious activity. Tips also come from investors, employees, and other sources.
  • Launching an investigation: Subpoenas are issued to obtain documents, communications, and testimony. Financial forensics analyze bank records, phone records, trading data, etc.
  • Establishing intent and materiality: Prosecutors must prove the accused knowingly intended to defraud investors and that misrepresentations or omissions of fact would impact an investor’s decisions.
  • Identifying victims and calculating losses: The scope of the fraud, number of victims, and amount of investment losses are quantified.
  • Assembling documentary and testimonial evidence: Records, data, communications, confessions, and witness testimony are compiled to corroborate findings.
  • Seeking charges: Securities fraud can lead to both federal charges (SEC, DOJ) and state felony charges levied by the DA’s Office.

Securities Fraud Charges in Queens

In New York, securities fraud constitutes a Class E felony under Article 178 of the New York Penal Code. This covers illegal practices like falsifying business records, false statements, schemes to defraud, and using manipulative devices.Specific charges applied in Queens securities fraud cases include:

  • Scheme to Defraud in the First Degree: Defrauding 10+ persons of over $1 million in aggregate. This is a Class E felony.
  • Scheme to Defraud in the Second Degree: Defrauding 1 or more persons of over $50,000. Also a Class E felony.
  • Securities Fraud: Intentionally engaging in practices to defraud securities investors. Class E felony.
  • Grand Larceny in the First/Second Degree: Stealing property exceeding $1 million or $50,000, respectively. Class B and C felonies.
  • Falsifying Business Records: Knowingly entering false information on financial records. Class E felony.

The above charges can lead to prison time up to 4 years per charge in addition to paying substantial restitution.

The Securities Fraud Trial Process in Queens

If arrested and charged with securities fraud in Queens, the case must go through various pre-trial procedures and hearings, including:

  • Arraignment: The defendant appears in court to face formal charges and enter a plea of guilty or not guilty. Bail may be set at this hearing.
  • Preliminary Hearing: Occurs before a judge so prosecutors can establish reasonable cause for the case to proceed towards trial. Evidence and witness testimony is presented.
  • Pre-Trial Motions: Defense attorneys may file motions to dismiss certain charges, suppress evidence, or otherwise challenge aspects of the prosecution’s case.
  • Plea Bargaining: Many securities fraud cases end with a negotiated plea deal rather than a trial. The defendant pleads guilty in return for reduced charges or a lighter sentence.
  • Trial: If no plea deal is reached, the case proceeds to a jury trial. Prosecutors present evidence and witnesses to establish guilt beyond a reasonable doubt.

In preparation for trial, prosecutors will identify and prepare key witnesses, including investigators, fraud examiners, analysts, cooperating conspirators, and victims who can explain complex aspects of the fraud scheme. Expert testimony is often used in securities fraud trials to help juries understand sophisticated financial crimes.

Defense Strategies in Securities Fraud Cases

Skilled white collar criminal defense attorneys have various strategies to combat securities fraud charges, such as:

  • Attacking flaws or lack of evidence in the prosecution’s case
  • Suppressing questionable evidence or statements
  • Retaining defense experts to rebuke the analysis or conclusions of prosecution experts
  • Gathering evidence and witnesses to support alternative explanations
  • Claiming a defendant’s reliance on professionals like accountants or lawyers
  • Making credibility arguments against cooperating witnesses who cut deals
  • Presenting mitigating circumstances to reduce culpability

An experienced securities fraud defense lawyer can identify weaknesses in the prosecution’s legal theories and technical analyses while positioning their client as an unknowing participant. Though risky, some securities fraud cases do go to trial when a conviction seems uncertain or an acceptable plea deal cannot be reached.

Sentencing and Appeals

For those found or pleading guilty, punishments for securities fraud in New York can include:

  • Prison time: From 1 to 4+ years per felony charge. First-time offenders may get lower sentences.
  • Fines: Penalties up to double the amount gained from the fraud. Individual fines up to $5,000 per charge.
  • Restitution: Repayment provided to victims for investment losses tied to the fraud.
  • Probation: Up to 5 years of court-ordered supervision in lieu of prison.

Convicted defendants can appeal by claiming violations of due process, insufficient evidence, improper rulings by the judge, and other reversible errors. However, appeals in state cases have a low success rate.Securities fraud is a theft of investor money that erodes public trust in capital markets. These complex cases require skilled prosecutors and regulators willing to unravel webs of deceit. Though the Queens DA’s Office takes such financial crimes seriously, they remain prevalent and challenging to detect. For those facing prosecution, an experienced defense attorney is indispensable.

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I was searching for a law firm with some power to help me deal with a warrant in New York . After 6 days I decided to go with Spodek Law Group. It helped that This law firm is well respected by not only the top law firms in New York , but the DA , Judge as well. I...

~Fonder Brandon

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It was my good fortune to retain Spodek Law Group for representation for my legal needs. From the beginning, communication was prompt and thorough. Todd, Kenneth and Alex were the first people I worked with and they all made me feel comfortable and confident that the team was going to work hard for me. Everything was explained and any concerns...

~A G

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After meeting with several law firms, I chose the Spodek Law Group not only for their professionalism and experience, but for the personal attention given to me right from the initial consultation. It is important to recognize how crucial having the right legal team is when faced with potentially life altering events that impact families and the lives of loved...

~George Cherubini

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