Fraud charges are among the most common white-collar crimes prosecuted in the United States. Fraud can involve individuals acting on their own behalf but frequently involves someone in a professional environment.
People in a variety of different careers may engage in conduct that violates the law and causes economic harm to others. Certain professions have a stronger association with financial misconduct than others. Anyone who works in one of the three industries below may be under more scrutiny than usual, and at greater risk of prosecution for mistakes or oversights that look like fraud to outsiders, as a result.
The real estate industry
There are a host of different professionals who play a role in modern real estate transactions. Real estate agents help buyers and sellers navigate complex transactions. Mortgage brokers help people obtain financing. Appraisers establish what a property is worth to ensure that financing the sale is a good investment for a company. Any of those professionals might engage in fraudulent conduct ranging from intentionally inflating the worth of a property to coaxing buyers into misrepresenting their finances on a mortgage application.
The investment sector
Those starting new businesses and financial professionals managing people’s resources can easily commit fraud. There are several kinds of investment fraud schemes that can deprive people of large amounts of money. Pump-and-dump schemes seek to alter public opinion of a business or investment opportunity so that current investors can maximize their profits at the expense of those who buy in later. Ponzi schemes involve professionals claiming to provide returns on investments but really using new investments from clients to compensate prior clients. Investment fraud can lead to criminal prosecution and potentially orders of restitution.
The medical industry
Professionals ranging from physicians to dentists and their support staff workers could end up facing fraud charges. Inappropriate billing practices or even performing unnecessary medical procedures are rare but still noteworthy forms of fraud that affect both individual patients and insurance programs.
Federal regulatory authorities and state prosecutors might be more skeptical of the conduct of those in one of those three industries because of their strong association with financial crimes. As such, responding assertively to allegations of white-collar criminal offenses is often necessary for those in these circumstances who want to protect their freedom and their professional reputations. Professionals who know that they are in an at-risk industry may be able to prepare themselves more effectively for the possibility of legal conflict later.
