Man pleads guilty to role in bank, tax fraud scheme

On Behalf of | Aug 12, 2019 | White Collar Crimes

It is not unusual for individuals to have various ways in which they could handle criminal charges. The manner in which they choose to approach their defense could depend on a number of factors associated with their cases. For instance, some parties may feel that it is in their better interests to enter a guilty plea when accused of fraud, especially if a plea bargain is available.

It was recently reported that one man in California chose to enter a guilty plea after being charged in a tax and bank fraud scheme. Purportedly, the man helped launder money obtained through the scheme by using his power as a bank branch manager. He allegedly admitted to unfreezing bank accounts that had been frozen due to suspected fraudulent activity.

Reports stated that the tax fraud scheme resulted in $14 million, and the investigation into the scheme had already resulted in property seizures and 12 convictions. The activity reportedly involved the use of fake identities and fake passports to obtain tax refunds from the Internal Revenue Service. This man is set to be sentenced in November. It was unclear what factors may have played a part in his decision to plead guilty to the charges.

Any type of fraud charge could come with steep penalties. Before accepting any type of plea bargain, California residents facing criminal charges for white collar crimes may want to explore all of their available defense options first. Making an informed decision could help parties in this type of situation ensure that they choose the route with which they feel most comfortable.

FindLaw Network
Gary Jay Kaufman
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