White collar crimes such as fraud, embezzlement, and employee theft often result in criminal charges that can have catastrophic effects on personal and professional lives. When you believe that you are being investigated for a crime, it is important to be proactive and seek the help of an experienced criminal defense attorney to avoid criminal charges all together or develop effective strategies against charges that have already been brought.
Earlier this week, in what a judge characterized as ‘the most sophisticated fraud scheme he has seen in his 20 years as a judge’ an area businessman was sentenced in Milwaukee to 10 years in federal prison and ordered to pay $65 million in restitution for his alleged role in the crime.
The company at the center of the case was in the business of handling roughly 3 billion coupons every year, taking them from the stores, sending them to the manufacturers for redemption and returning the money to the stores – all for a service fee. The fraud allegedly took place when the company presented manufacturers with coupons that had been cut directly from newspaper inserts, circumventing the customer redemption process at area stores.
All told, the scam allegedly resulted in millions of dollars in profits, resulting in the CEO’s conviction for 10 fraud counts, one conspiracy to commit fraud and one count of attempted conspiracy despite his claim that he was not only a victim of an over- zealous investigation by FBI agents and federal prosecutors ignorant of the coupon industry, but also a the target of a plot by his competitors.
If you believe that you are being investigated for a theft crime, it is important to get the help of an experienced criminal defense lawyer immediately. So often, the white collar crime investigation process is a lengthy one as prosecutors build what they hope is an ironclad case against you. You should be equally concerned with defending yourself from possible charges that may result from the investigation by seeking the help of a seasoned criminal defense attorney. Contact the Waukesha Wisconsin criminal defense team of Andrew C. Ladd LLC for representation today at 262-542-3900.
Source: Milwaukee Journal Sentinel, “Former Coupon Company Boss Gets 10 Years in Federal Prison for $250 Million Fraud” ,by John Diedrich, March 7, 2017.