Fraud crimes are significant because they are federal crimes. Federal crimes have their own penalties, which often come with prison sentences.
Fraud and financial crimes steal assets or money with the intention of financial gain as a result. There are many types including:
- Identity theft
- Money laundering
- Tax evasion
- Tax fraud
- White collar crimes
- Mortgage fraud
Each of these has its own elements, and they are penalized in different ways. There are mandatory minimum penalties that people may be faced with as a result of taking part in these criminal acts.
What is a mandatory minimum penalty?
Mandatory minimum penalties are penalties that apply to convictions regardless of the facts of the case. For example, if a fraud case has a mandatory prison sentence of one year, nothing that the person does or says will reduce that minimum sentence unless the charge itself can be changed.
Your attorney's job will be to try to alter the charges against you or to have you found innocent of the accusations. If you are convicted, then you will face mandatory minimum sentences if they apply to the felony offense. That means that you'll face at least that much time in prison or pay a minimum fine. However, that doesn't limit the judge to the minimums. You could end up facing years longer in prison or higher penalties than the minimum upon conviction. It's a good idea to discuss your options with your attorney, so you know the best ways to avoid a minimum sentence if it's possible in your case.