Authorities accuse man of running massive investor fraud scheme

On Behalf of | Jun 22, 2018 | Firm News, Fraud

Perhaps one of the reason why so many are seemingly quick to adjudicate those accused of crimes in New York as being guilty in the court of public opinion is that they view criminal activity as being largely “black-and-white” (either one did commit a crime, or he or she did not). Yet in many cases, it is not that simple. Cases involving fraud, for example, can often arise due to simple mismanagement or judgment errors (such as offering bad investment advice or inadvertently comingling funds). In these cases, the actions of the accused should be closely examined to see if there truly was any criminal intent involved.

If it is shown that there may be, then one may have to answer for it. That may be what is in store for a Texas man after he was arrested on charges of fraud and money laundering. Authorities say that the man lived a luxurious lifestyle, which they now believe may have been supported by inappropriate funds siphoned away from investor accounts for individual use. The charges against the man claim that he purposely embellished cost and production estimate, prompting investors to vastly overpay on projects whose profits he then largely diverted to himself, leaving them with in the way of returns. He is also believed to have had millions in personal expenses paid for by many of the companies he was affiliated with. 

Yet even in alleged fraud cases such as this one where there appears to be significant evidence implying misdeeds, those accused are owed the right to offer up their own explanations as to their actions and to have such arguments seriously evaluated. Any in such a position needing help making such an argument may want to secure the services of an experienced attorney.