Most Common Financial Crimes: Money Laundering, Falsifying Records

NYC White Collar Defense Attorney Helps Defend Against Allegations

Video Transcript:

Judy Maggio:

What are some examples of possible financial fraud that might come under scrutiny to federal or state authorities? Let's ask New York City lawyer David Cohen for this Ask the Lawyers Quick Question.

David Cohen.

Failure to pay employment taxes is a big one. Lots of companies wanna pay their employees but not give the government their share. Government wants their piece of the pie, so failure to pay employment taxes by paying your employees either with cash or off the books is a big problem. Another one is falsifying records, sometimes law enforcement might come knocking at your door to get information about your company or another company, and you haven't had all of the correct books and people try to backdate their books and write in things that didn't actually happen. And then the third one is money laundering, people get funds from sources that are either not business-related or are just patently illegal, and they put them into their business account and then they try to justify them later on, and those are the three areas where we find the financial fraud or financial questions come often from the government.

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