If you read the financial news section of any newspaper, you have probably heard of securities fraud. Securities fraud is a type of white-collar crime. Securities fraud occurs when a con artist attempts to sell nonexistent shares of an existing company or shares of a fictional company. The federal government takes securities fraud seriously; it is an offense that carries the potential for prison time and large fines. If you are involved in a securities fraud investigation, having a securities fraud expert witness available is essential.
If You’ve Been Accused…
Being accused of securities fraud is a traumatic experience in itself, even if your case never goes to trial. In the course of a thorough investigation, federal law enforcement personnel could become a central part of your life for a year or more. These are just a few of the difficulties you may face:
Frozen Assets
The first thing the authorities will do is freeze all your assets while they conduct a forensic accounting investigation. With your assets frozen, you may be unable to pay your bills on time, save for your children’s education or contribute to your retirement accounts. By the time the investigation is complete, the damage to your finances could be tremendous.
Intrusive Investigation
The authorities may question your family and friends in addition to your business associates. This may cause stress and embarrassment to those who are closest to you, as they are questioned about your activities.
Unemployment
If you work in the financial industry, you will almost certainly lose your job, at least in the short term. If you are convicted, you may be barred from working in the industry at all. In any event, your lifestyle will change dramatically.
Nonfinancial Losses
What else could you lose? The stress that you and your family will face could lead to broken relationships, lost personal opportunities and long-term emotional damage. No matter what the eventual outcome is, your life may never be the same again.
With potential consequences like these, you need a qualified forensic accountant. No matter what the facts of the case are, this expert can clearly tell your side of the story in court.
Your Day in Court
If you must appear in court, you may call upon your forensic accountant to act as a securities fraud expert witness. Your expert witness will have access to the same information the authorities have; he or she will be in the position to dispute the outcome of the investigation.
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Veriti Consulting, LLC’s professionals are expert testifiers and have provided expert witness testimony in a variety of cases throughout the U.S. Visit our expert witness page or call us today at 855.232.4410 for more information.
Read related articles:
- When Do You Hire A Financial Fraud Investigation Firm?
- Using A Forensic Accounting Expert In A Fraud Investigation
- What You Need To Know About Fraud Investigation Process And Procedures