Mortgage fraud is a hassle that has reached epidemic proportions within the United States (US) in fashionable and in South Carolina (SC) specifically. The white-collar practitioner should be conscious that loan fraud is typically investigated by the USA Federal Bureau of Investigation (FBI), even though other agencies routinely help the FBI and/or take the lead in investigating a case. Some of the opposite federal corporations which look into loan fraud crimes for crook prosecution consist of, but aren’t restrained to, the Internal Revenue Service-Criminal Investigative Division (IRS-CID), United States Postal Inspection Service (USPIS), U.S. Secret Service (USSS), U.S. Immigration and Customs Enforcement (ICE), U.S. Department of Housing and Urban Development-Office of the Inspector General (HUD-OIG), Federal Deposit Insurance Corporation-Office of the Inspector General (FDIC-OIG), the Department of Veterans Affairs-Office of the Inspector General (DVA-OIG) and U.S. Bankruptcy Trustees.
The FBI works notably with the Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the United States Department of the Treasury, created in 1990, that collects and analyzes records about economic transactions that allows you to fight economic crimes, inclusive of loan fraud, cash laundering, and terrorist financing. The FinCEN network is a method of bringing people and statistics together to combat complex crook monetary transactions inclusive of mortgage fraud and money laundering through imposing facts sharing amongst regulation enforcement corporations and its different companions in the regulatory and economic communities. South Carolina legal professionals can keep abreast of loan fraud tendencies by using touring the respective websites of the FBI and FinCEN.
In South Carolina, mortgage fraud is usually prosecuted by using federal prosecutors. The United States Attorney’s Office (USAO) and the U.S. Department of Justice’s (DOJ) Criminal Fraud Section handle the criminal prosecutions of loan fraud instances. The USAO in South Carolina has approximately 50 prosecutors in the kingdom and has places of work in Charleston, Columbia, Florence, and Greenville. In the research level, a person with feasible understanding or involvement in a mortgage fraud may be taken into consideration a witness, difficulty or target of the research. A situation is normally a person the prosecutor believes may have devoted a mortgage fraud crime, while a goal is a person the prosecutor believes has committed a criminal offense inclusive of loan fraud and the prosecutor has considerable proof to support a crook prosecution. Criminal prosecutions of mortgage fraud criminal cases are commonly initiated through the federal grand jury technique. A federal grand jury consists of among sixteen and 23 grand jurors who’re provided evidence of alleged crook pastime by using the federal prosecutors with the aid of law enforcement agents, commonly FBI special retailers. At least 12 members of the grand jury ought to vote in choose of an indictment charging loan fraud. South Carolina crook defense lawyers aren’t allowed entry into the grand jury at any time, and prosecutors not often fail to obtain an indictment after presentment in their case to the grand jury.
Often goals of a loan fraud prosecution are invited with the aid of the prosecution to avail themselves of the grand jury system and to testify in front of the grand jury. Generally, a South Carolina crook protection lawyer has to now not allow a named goal of a federal crook loan fraud investigation to testify before the grand jury. Subjects and witnesses in a mortgage fraud prosecution are often subpoenaed by the prosecutors to testify earlier than the grand jury. A crook defense lawyer needs to likewise normally advocate a witness or problem to now does not testify if any a part of the testimony would probably incriminate the customer. With recognize to a federal mortgage fraud investigation, while a citizen gets a goal letter, problem letter, or a subpoena to testify before the grand jury, or is contacted an individual by means of a regulation enforcement officer such as an FBI special agent, a South Carolina crook lawyer who is skilled in federal prosecutions need to be consulted right now. One of the largest mistakes a loan fraud goal, difficulty or witness can make is to testify before the grand jury or communicate to crook investigators prior to consulting with a criminal protection attorney. The 5th Amendment to the Constitution permits any individual, which include a target, subject or witness in a mortgage fraud prosecution, to no longer incriminate himself or herself. Interestingly, there may be no Fifth Amendment protection for a business enterprise. Obviously, if a defendant has been indicted or arrested for a federal mortgage fraud crime in South Carolina, an experienced SC loan fraud legal professional need to be consulted immediately.
