FOLLOW US :
212-300-5196

White Glove Service. Excellent Results. Strong Reputation.

Read Our Reviews

Common Fraud Scams

July 9, 2020 Federal Criminal Attorneys

Fraud is a Growing Problem in Modern Times

Annually, thousands of individuals are victims of different forms of fraud. With the increasing prominence of the Internet and the sheer volume of personal information that gets uploaded to the web, it has become so much easier for criminals to prey on victims. As such, this has ended up in an increased governmental focus on ending common fraud scams as well as heavier pressure to prosecute scammers. Unfortunately, all over the United States, there are also far too many individuals wrongfully convicted of being involved in a fraud scam.

In the event that a federal prosecutor has charged you with a fraud crime, make sure to get in touch with a defense attorney who has experience with federal fraud crime cases. 

Identity Theft Scams

Identity theft is potentially one of the most frequent of all the fraud scams.  This crime affects roughly 15 million Americans annually. In general, identity theft entails the taking of another person’s identity in order to commit fraud or another criminal act. Some common methods of identity theft are:

  • Forgery
  • Check forgery
  • Counterfeiting
  • Mail fraud
  • Cyber scams and phishing
  • Medical identity theft

In general, before a person is charged with identity theft, he/she comes under investigation by either state or federal prosecutors. An alleged crime(s) that may have occurred across state lines has a higher chance of being dealt with by federal prosecutors from the investigation stage and on. Because of this, it is highly recommended to contact a criminal defense lawyer who is well skilled in both state and federal court right away when you learn that you’re under investigation.

Case Study: The Nigerian Letter and Advanced Fee Fraud

The Nigerian letter fraud scam, also referred to as “419” fraud, combines impersonation fraud with a variation of an advanced fee con.  The “advanced fee” con entails someone promising a reward to the target, but the “target” must pay a fee before he/she can receive that reward. Frequently, this type of fraud involves a person posing as a self-proclaimed government official or a member of royalty attempting to transfer money out of Nigeria, and saying that to do so, the target needs to provide bank account information or make a small money transfer.

Some characteristics of “419” or other advanced fee scams include:

  • A promise to send you money or products
  • An offer to permit your participation in a special deal
  • A request to assist in removing money from a country in political turmoil
  • A promise to find financial arrangements

Health Insurance Fraud or Health Care Fraud

There are a number of situations that might constitute healthcare or health insurance fraud.  These can include medical equipment fraud, “rolling lab” scams, services not performed schemes, and Medicare fraud. Since health care and health insurance, in a general sense, can be rather complex and convoluted, it can be fairly simple for even intelligent and diligent people to unwittingly take part in this kind of fraud. For example, the victim might be tricked into signing a blank insurance form or giving a blank authorization form to a health provider to bill for services.

Ponzi and Pyramid Schemes

Ponzi and pyramid schemes can be extremely complex and, often, such schemes can involve large dollar amounts and/or a large number of victims. In both of these kinds of scams, the con artist pays out dividends or other shares (like in an investing setting) to earlier victims in order to create a facade of legitimacy. In simpler terms, the funds that the victim invests is used to finance the dividends for an earlier investor. As such, the victim’s funds do not go towards any investment as promised.

Market Manipulation Fraud

Market manipulation is frequently referred to as a “pump and dump” scheme. In this scheme, the fraud perpetrator(s) create artificial buying power for a particular security. The offenders then artificially inflate the trading volume for the security to bring its price up higher. This is part of the scheme that is known as the “pump.” When the security hits a certain price level, the offenders quickly sell off their shares of the security (the “dump”) to earn illicit gains at the expense of third-party investors.

FREE CONSULTATION

Testimonials

Spodek Law Group have offered me excellent support and advice thru a very difficult time. I feel I've dealt with someone who truly cares and wants the best outcome for you and yours. I'm extremely grateful for all the help Spodek Law Group has offered me. I can't recommend them enough.

~ David Bruce

Spodek Law Group was incredibly professional and has given me the best advice I could wish for. They had been helpful and empathetic to my stressful situation. Would highly recommend Spodek Law Group to anyone I meet.

~ Rowlin Garcia

Best service I ever had. Todd is absolutely class personified. You are in the safest hands with spodek. They have their clients interest in mind.

~ Francis Anim

Spodek Law Group

White Glove Service

We provide superior service, excellent results, at a level superior to other criminal defense law firms. Regardless of where your case is, nationwide, we can help you.

Get In Touch

Schedule Your Consultation

Los Angeles

555 W 5th St 35th floor, Los Angeles, CA 90013

212-300-5196



get directions

Queens

35-37 36th St, 2nd Floor Astoria, NY 11106

212-300-5196



get directions

NYC

85 Broad St 30th Floor, New York, NY 10004

212-300-5196



get directions

Brooklyn

195 Montague St., 14th Floor, Brooklyn, NY 11201

212-300-5196



get directions

Call Us