Articles Posted in Financial Crimes

Our Palm Beach and Broward County criminal defense lawyers know that before the 2008 arrest of the now infamous Bernard “Bernie” Madoff, many Americans had been unfamiliar with the illegal financial operation known as a Ponzi scheme.
While not as commonly discussed as credit card fraud or insider trading, Ponzi schemes have been around for a very long time and they’re still going on today.

Right here in South Florida, former Miami Dolphins cornerback Will Allen was arrested for and charged last week with operating a $31 million Ponzi scheme. In this blog, we will explore the crime he’s charged with and the circumstances of his case in particular.
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Former Speaker of the House Dennis Hastert has been making headlines as of late, and not for earmarks or his coined “majority of the majority” rule. Late last month, it was revealed that Hastert was indicted by a federal grand jury and charged with a banking withdrawal scheme known as “structuring,” which we will explain herein.
As our West Palm Beach and Fort Lauderdale criminal defense lawyers know, the federal government regulates the national banking system, and one of the regulations comes in the form of the Bank Secrecy Act, enacted way back in 1970.

In an attempt to combat financial crimes such as money laundering, the Bank Secrecy Act requires financial institutions to report to a branch of the federal government cash transactions above a certain dollar amount. As we will explore, this has serious implications for Americans.
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