On behalf of Anaya-McKedy, P.C. posted in White Collar Crimes on Friday, November 29, 2013.
Crimes that are nonviolent and financially motivated with the intent of monetary gain are called white collar crimes. In 1939, a sociologist coined the term and said that these crimes were committed by people with a high social status and respectability. White collar crime is often similar to corporate crime, with “white collar employees” engaging in illegal activities such as bribery, fraud, forgery, identity theft and insider trading.
In Colorado, the penalties can vary for different types of white collar crimes. Most are considered felonies – at least when a certain threshold is reached for monetary losses to the victim. A state grand jury in Colorado recently handed down an indictment for nine people that were allegedly part of a real estate scheme. The defendants, according to the state’s Attorney General’s office, defrauded lenders and banks that had distressed homeowners’ mortgages. This allegedly occurred in the Denver area and involved eight properties.
John Sutter, the Attorney General, said, “This group took advantage of multiple homeowners, using deception and forged documents, to create illegal profits on the sale of various properties.” Each defendant has been accused of multiple white collar crimes, including violations of the Colorado Organized Crime Control Act. Twenty-four years in prison is what each defendant is now facing for a conviction on each count.
There were multiple agencies involved in the investigation, including the Colorado Bureau of Investigations, the Colorado Division of Real Estate, and the U.S. Department of Housing & Urban Development’s Inspector General.
According to the director of the CBI, the agency is working to combat schemes such as these, as well as other white collar crimes.
Even though these defendants are facing serious penalties, it is important to remember that just because they have been indicted, it does not mean they are guilty. Proving guilt beyond a reasonable doubt will fall to the prosecutors in this case. The defendants may benefit from the experience and knowledge of criminal defense attorneys who will work diligently to ensure that their clients’ rights are protected throughout the court process.
csbj.com, “AG indicts nine in fraud scheme targeting homeowners” Marija B. Vader, Nov. 18, 2013