When authorities suspect that crimes have been committed, it is possible for charges to come at the state and federal level. White collar crimes are often federal crimes, and as a result, anyone charged with such a crime could face a serious legal predicament. Federal charges commonly come with more severe consequences in the event of a conviction, so accused parties will certainly want to exercise their various legal rights as their cases proceed.
Two women in California will undoubtedly be handling their cases carefully after recently being accused of insurance fraud. According to reports, one woman operated an insurance agency out of her home and, along with the second woman, convinced an 89-year-old woman to make various financial transactions. The two apparently worked to have the elderly woman liquidate a multi-million dollar investment portfolio, fire her professional estate manager and hire the second woman to manage her affairs, though the woman had no experience doing so.
The pair also purportedly advised the woman to invest $3 million in two annuity policies before selling 23 additional annuities to the woman. It was noted that many of those annuities were purchased without the woman's consent. These transactions resulted in the two accused women obtaining over $1 million in insurance commissions, and the woman managing the elderly woman's estate obtained $400,000 in fees for services. The two women are now facing criminal charges for insurance fraud and have each had a bail set at $500,000.
White collar crimes like insurance fraud are taken seriously by authorities, and these California women should also take their defense approaches seriously. As with all criminal allegations, these women have the ability to create and present criminal defenses if they wish to do so. Gaining information on their individual legal options may prove useful to them.