White Collar Crimes

February 15, 2011

Manhattan DA: Liquid Capital Management Scams 45 Victims in a $4 Million Ponzi Scheme

While merely “chopped liver” compared to Ponzi King Bernie Madoff, Brian Kim, the founder of Liquid Capital Management, was indicted by a New York County Grand Jury for his own Ponzi scheme that allegedly defrauded 45 people out of approximately $4,000,000. To his alleged victims, however, Mr. Kim and Liquid Capital Management were no different than Bernie. He allegedly took his naive investors on a wild ride of fraud and white collar crime that resulted in a significant loss.

According to Manhattan District Attorney Cyrus Vance Jr., Mr. Kim began his scheme back in 2003 and convinced numerous people that he was an accomplished trader. Instead, prosecutors allege Mr. Kim was not really a trader, but more of a traitor (a financial Benedict Arnold if you will) to his duped clients and pocketed their money while suffering major losses in his investments. Like the godfather of Ponzi schemes, Mr. Kim allegedly took a page out of Mr. Madoff’s playbook when he drafted false statements for his unknowing clients.

February 6, 2011

New York Embezzlement Crimes & Laws Beyond Grand Larceny: A Criminal Lawyers Perspective Part II

by Jeremy Saland

As I addressed in an earlier entry in Saland Law PC’s New York Criminal Lawyer Blog, Embezzlement arrests and indictments go well beyond Grand Larceny charges. In New York, the laws of and crimes pertaining to Embezzlement can often come crashing down like a ton of bricks. While an experienced white collar and New York Embezzlement lawyer will be able to dissect your case to ascertain the appropriate defense, the following entry addresses additional crimes that you may face if you are charged with a Grand Larceny Embezzlement.

Identity Theft in the First Degree

January 16, 2011

NY Crimes & Laws Involving Grand Larceny Embezzlement: A New York City Criminal Defense Attorney View Part I

by Jeremy Saland

When one thinks of Embezzlement in New York, one usually thinks of a Grand Larceny type scheme. While this may be true, experienced New York criminal lawyers will tell you that an Embezzlement based Grand Larceny investigation, arrest or indictment may only be the tip of the iceberg. In fact, while one’s main objective may be a theft, there are numerous other crimes that one may face if one is charged or arrested for Grand Larceny by Embezzlement in New York.

A savvy and experienced prosecutor is likely able to throw a litany of charges at you that tie back to a Grand Larceny and Embezzlement arrest. If one doesn’t stick, the prosecutor realizes that there are many additional charges that may. Obviously, some Embezzlement charges in New York are more serious than others. For most people, however, any type of felony conviction will cripple their career. While no New York criminal defense attorney can guarantee a particular result in the face of an Embezzlement charge, arrest or indictment, he or she should be able to assess your case, discuss the possible charges and implement a defense.

November 17, 2010

New York White Collar Criminal Law Information Page: Falsifying Business Records in the First and Second Degree

by Jeremy Saland

In an ongoing effort to decipher the white collar criminal law in New York, the New York criminal defense attorneys and former Manhattan prosecutors at Saland Law PC have created an information page for Falsifying Business Records in the First Degree (NY Penal Law 175.10) and Falsifying Business Records in the Second Degree (NY Penal Law 175.05). Falsifying Business Records in the First Degree is an “E” felony punishable by up to four years in state prison while Falsifying Business Records in the Second Degree is an “A” misdemeanor punishable by up to one year in jail.

Briefly, both of these white collar crimes are often associated with other offenses including Grand Larceny, Forgery and Criminal Possession of a Forged Instrument. Generally, Falsifying Business Records in the Second Degree occurs when a person alters, destroys or fails to input information in the records of a business with the intent to defraud. What escalates this offense to the felony crime is when the person acts as described, but also has the intent to commit or cover up another crime. The easy way to visualize this crime is as follows:

October 20, 2010

Client Avoids Felony Conviction & Jail After Arrested for Falsifying Business Records & Grand Larceny Embezzlement in Excess of $30K

by Jeremy Saland

The New York white collar criminal defense attorneys at Saland Law PC are pleased to announce that another client avoided both a felony conviction and incarceration after being charged with numerous felonies involving theft and fraud. Prosecutors had alleged that our client embezzled in excess of $32,000 from our client’s employer. If convicted of the crimes of Grand Larceny in the Third Degree (NY PL 155.35) and Falsifying Business Records in the First Degree (NY PL 175.10), our client faced up to seven and four years in state prison respectively.

In this particular case, prosecutors alleged that our client siphoned cash payments directed to the employer and that our client entered false data or caused inaccurate data to be entered into the computer system of the business to cover up the alleged fraud. After negotiations and the presentation of other factors, prosecutors permitted our client to plea to a lesser misdemeanor of Petit Larceny (the “shoplifting statute”) and receive a conditional discharge where the judge instructed our client to stay out of trouble for one year. Although our client admitted to some wrongdoing, he was not crippled by his past and he will avoid the collateral consequences and stigma of a felony conviction as well as incarceration.

October 8, 2010

Grand Larceny In New York – Article 155: Understanding the Law & Implementing Your Criminal Defense

by Jeremy Saland

In New York State, Grand Larceny is one of the most common white collar crimes that prosecutors charge. Although the level of the crime can range from Grand Larceny in the Fourth Degree (NY PL 155.30(1)) punishable by up to 4 years in prison to Grand Larceny in the First Degree (NY PL 155.42) punishable by up to 25 years prison, the following is a New York Grand Larceny “primer” as the law applies to the value of property allegedly stolen. For further information on different sections of the Grand Larceny statute and how the law may impact your particular defense, follow the links below. Having said that, Grand Larceny in New York is defined as follows:

Grand Larceny in the 4th Degree – New York Penal Law Section 155.30(1)

August 23, 2010

Top White Collar Crime Case Result: New York White Collar Criminal Defense Firm Gets Client Misdemeanor & No Jail After Client Charged with Felony Grand Larceny Embezzlement

by Jeremy Saland

The New York white collar criminal defense attorneys at Saland Law PC are pleased to announce that after months of dedication and advocacy, a client accused of felony Grand Larceny embezzlement obtained a misdemeanor without jail or probation. Prosecutors had alleged that our client embezzled in excess of $25,000.00 by skimming and pocketing transactions from his employer either by overcharging transactions and pocketing the amount or by conducting transactions for cash. If convicted of Grand Larceny in the Third Degree , pursuant to New York Penal Law 155.30, our client faced up to seven years in state prison.

While each case is unique and requires its own legal and practical assessment, Saland Law PC has had tremendous success and results representing clients accused of felony fraud, thefts and embezzlements. In fact, our New York white collar criminal defense lawyers have represented numerous clients accused of “White Collar Light” crimes alleging Grand Larceny, Falsifying Business Records, Forgery or related crimes ranging from less than $10,000.00 to well north of $50,000.00. Even more significant than these crimes, the criminal defense attorneys at Saland Law PC have successfully avoided prosecution and kept clients from jail in more serious White Collar allegations of Tax Fraud and Grand Larceny in the multiple millions of dollars.

June 26, 2010

Official Misconduct (New York Penal Law 195.00): Crime, Punishment and Your Criminal Defense

by Jeremy Saland

Not to be mistaken with Rewarding Official Misconduct (New York Penal Law 200.20), Official Misconduct (New York Penal Law 195.00), is a unique crime prosecuted in New York associated with public servants (defined below). Official Misconduct occurs as follows:

When a public servant has the intent to obtain a benefit or deprive another person of a benefit, he:

May 24, 2010

Possessing Counterfeit Money & Currency in New York State: Criminal Possession of a Forged Instrument in the First Degree (NY PL 170.30) & Your NY Criminal Defense

by Jeremy Saland

You go into a restaurant in Manhattan or store in Brooklyn and pay with cash. It turns out, one of the $20 or $100 dollar bills is fake and a forgery. In the alternative, you are arrested for an unrelated charge in Queens and when you are searched, the police recover numerous counterfeit $50 dollar bills. Unfortunately, you find yourself under arrest and charged with a crime and in need of a New York criminal defense lawyer experienced in counterfeit money crimes, Forgery and Criminal Possession of a Forged Instrument. As you wrap your head around the turn of events you begin to wonder about the crimes you may now face, what the potential punishments are and what are your defenses.

New York Crimes for Possessing Counterfeit Money

May 20, 2010

Promoting Gambling in NY (NY PL 225.05 & 225.10): Who Can be Charged with New York Penal Law 225.05 and 225.10

by Jeremy Saland

In the first entry in the New York Gambling Crimes series, I addressed the crime of Promoting Gambling in New York (Manhattan, Brooklyn, Queens, Bronx, Westchester or any other County in New York State) as well as the dry, yet important, definitions underlying this and other gambling statutes. Today’s entry addresses some cases that will help you further understand this offense and understand Promoting Gambling and related crimes from the perspective of a New York criminal defense attorney. More specifically, this entry will address who can be charged with Promoting Gambling pursuant to New York Penal Law sections 225.05 and 225.10.

To start things off, one cannot be charged with the crime of Promoting Gambling if one is merely a participant in that gambling. The Court of Appeals, New York’s highest court, recently affirmed that position in the Matter of Victor M., 9 N.Y.3d 84, 845 N.Y.S.2d 771, 876 N.E.2d 1187 (2007). In that case, the Court found that a player in a game of dice (it could have been any other game for the purpose of this conclusion) could not be charged with this offense because merely as a player, that person did not advance or profit from the unlawful gambling activity. One has to look no further than New York Penal Law 225.00(4) and (5) for corroboration in the statute itself to support the Court of Appeals’ determination. Keep in mind, that the terms “advance” and “profit” are both specifically defined in the statute.