What to Do If You’re Accused of a Financial Crime

X Things to Do After Being Accused of a Financial Crime

01:52 07 December 2024

Financial crimes are very serious, even though they may not be as stigmatized or penalized as violent crimes. If you're accused of a financial crime, it could put your career, reputation, and even your freedom in jeopardy.

What should you do if you're accused of a financial crime? And how can you turn the situation to be in your favor?

The Nature of Financial Crimes

Financial crimes are treated a bit differently than other types of crimes. Most criminal law principles and procedures still apply, but the nature of these crimes makes them inherently less egregious than violent crimes. 

Financial crimes still have victims and they still are technically violations of the law, but the victims of financial crimes can be made whole via compensation, while the victims of violent crimes often suffer irreparable damage.

Depending on the severity and egregiousness of your financial crimes, you'll likely be facing less serious charges and consequences than someone who has committed a violent crime. However, financial crimes can still carry lengthy prison sentences and hefty fines, so it's important to take them seriously.

Regardless of whether you've actually committed any type of financial impropriety, how should you handle an accusation that you've committed a financial crime?

Remain Calm

First and foremost, it's important to remain calm. If you're facing a criminal accusation, you may begin to panic about your future, and you may have legitimate concerns about the potential evidence against you. However, you'll be able to think much more clearly and make more logical decisions if you can take a few deep breaths and think through the situation rationally. 

Additionally, if you have a severe emotional reaction to an accusation of a financial crime, it could make you look guilty in the eyes of the public. It's tough to remain calm under these circumstances, but you have to make the attempt.

Do Not Destroy or Modify Evidence

Tampering with evidence is a separate crime with significant consequences. If you know that you've committed a financial crime, or if you're worried about how certain pieces of evidence could make you look, you might be tempted to destroy those pieces of evidence or hide them. However, this is a bad idea. If you're not sure about how the evidence might be considered, or if you have questions about how you're supposed to handle certain pieces of material, talk to your lawyer directly.

Hire a Lawyer

It's important to hire an attorney as soon as possible, regardless of whether you're innocent or guilty of the financial crime of which you're accused. Your lawyer is going to be your greatest asset during this process, helping you understand the charges against you, guiding you through the legal process, and representing you in interrogations, negotiations, and trials. 

Consider hiring the best criminal defense lawyer you can afford and trust their advice. Remember that once you have an attorney, you'll have attorney-client privilege, which means anything you say to them is going to remain confidential. Be totally honest with your lawyer and ask clarifying questions to make sure you and your lawyer are working effectively together.

Don’t Talk to the Police Without Your Lawyer

Never talk to police officers without your lawyer. Depending on where you live and the circumstances, you may be required to provide certain information to police, such as your name. However, you shouldn't answer any of their questions or reveal any pieces of information without your lawyer’s explicit advice. That's because even a single mistake could end up working against you – and because the police are trained to manipulate people into giving confessions and indications of guilt.

Gather Evidence in Your Favor

Work together with your lawyer to gather evidence in your favor. Are there any pieces of information that function to refute the claims of the prosecution? Are there any pieces of evidence that contradict or challenge the evidence against you? Do you know of any witnesses who could come forward to support you?

Build a Defense

There are multiple ways to defend yourself after being accused of a crime. For example, you can present contradictory evidence, you can challenge the evidence already presented, and you can challenge the legitimacy of the process. Together with your lawyer, you'll decide on a strategy for how to move forward.

Consider All Your Options

Make sure you consider all your options. If the evidence is heavily weighted against you, it may be in your best interest to take a plea bargain, even if you maintain your innocence.

Facing a criminal accusation is incredibly stressful, and it could lead to steep consequences, depending on the severity of the crime. However, with a resilient mindset and a good lawyer supporting you, you may be in a position to defeat the accusations or at least walk away with a lighter sentence.