When it comes to white collar crimes, some cases are so egregious that they remain in the public’s mind. Typically, these notable cases made national headlines or cost so many millions of dollars that they can’t be easily forgotten.
Below are some crimes that are destined to be remembered for years to come:
Known as one of the largest accounting scandals ever in our country, WorldCom’s downfall was precipitated by internal audits that revealed troubling accounting practices involving nearly $4 billion in expenses throughout five quarters.
This Houston-based energy company hid its losses in a complex scheme of corporate crimes that included insider trading.
Accounting fraud also brought this company to its knees in 2004. Its founder and several other executives submitted guilty pleas to fraudulent schemes involving billions of mismanaged funds.
The perpetrator of the largest Ponzi scheme ever discovered is perhaps in a category all his own. Madoff diverted funds from investors to support his own lavish lifestyle. His fraud cost them $65 billion and netted him a prison sentence of 150 years.
If you are facing federal white collar charges, it is likely that the crime for which you stand accused will not rise to the aforementioned levels. This is not to say that the charges are not serious and don’t require an immediate and aggressive response.
They do, and you must be proactive about your defense. As soon as you know that you may face an arrest or indictment, you must act. Your Augusta criminal defense attorney can provide you with advice and a defense strategy.