Financial crimes can involve a wide range of offenses, including money laundering allegations, misuse of funds, theft, or fraud. In Charleston, a federal financial crime conviction can result in jail time and all federal authorities are able to investigate the occurrence of financial crime. If the crime is money laundering, it could be investigated by any agency, commonly the DEA. If it is counterfeiting, it could be the Secret Service or any of the other agencies who look into the matter.
The Securities and Exchange Commission (SEC) is the agency that regulates the stock and bond office. If a company is being investigated for fraud in stock or bond disclosure, the U.S. Attorney’s Office or the SEC may be the agency conducting the investigation. It is important to understand the how an SEC investigation operates in Charleston for companies involved in federal financial crimes.
The SEC’s role in prosecuting financial crimes?
The SEC is an independent agency of the federal government. The agency’s role is that to prosecute or seek civil remedies, protect investors, and maintain the free market. They do not do criminal prosecution; they only can conduct civil action.
There is not a big difference between an investigation launched by the FBI, and one launched by the SEC. They may get a subpoena from the FBI and materials may be shared between the two.
Insider Trading in Charleston
Insider trading is when someone is accused of profiting off stocks by having knowledge that is not available to the public, also known as inside information. If the SEC gets a tip or has a reason to suspect that insider trading has occurred in Charleston, they may try to look for evidence to see if they can show through direct circumstantial proof that somebody has illegally profited from the trade.
A local defense attorney can help a person accused of insider trading. The government may be investigating whether something was done illegally, and the defense trying to prove that something was done legitimately.
Will the Subject of an SEC Investigation be Notified?
In the event that an investigation of financial crime is conducted by federal agency, the subject of the investigation may or may not be notified. It depends on the type of investigation. If it is money laundering, the person may not be notified – their arrest may be the first time they receive knowledge of the pending investigations against them.
Those facing financial crime allegations could become aware of charges against them when subpoenas are served for records from a business. Records are sought or grand jury subpoenas are issued for employees to testify the grand jury about something that is being investigated as a potential irregularity. The subpoena should serve as a signal that a person should start looking into hiring a qualified federal defense attorney
Navigating SEC Investigations in Charleston Federal Financial Crimes with a Qualified Attorney
A person should seek legal counsel as soon as they become aware that there is an investigation. The role of a Charleston federal financial crime lawyer during an SEC investigation is to understand the actions the government is taking against you. A lawyer can help you get ahead of the government whenever possible and clear up any misperceptions in an effective and efficient manner.
