Defending Corporate Fraud
Corporate fraud refers to complex schemes committed by large corporations that are in violations of specific regulations outlined by the Internal Revenue Service, the US Securities and Exchange Commission, the US Department of Justice or other regulatory agencies. The term ‘corporate fraud’ is often applied to larger white-collar criminal matters, but as a matter of criminal prosecution, it has to do with large-scale corporate criminal activity.
Government Response to Corporate Fraud
In response to the historic collapse of Enron and the WorldCom accounting scandal, the President’s Corporate Fraud Task Force was created in 2002 by then-president George W. Bush. The Task Force is a cooperative regulatory agency between the IRS, US DOJ, the US Attorneys’ Offices, the US Department of Labor, the US Department of the Treasury, the Federal Energy Regulatory Commission, the Federal Communications Commission, the United States Postal Inspection Service and other member agencies.
As such, the President’s Corporate Fraud Task Force investigates various types of criminal activities. Allegations stemming from their corporate fraud investigations commonly include some type of accounting or financial fraud charge, a conspiracy count a mail fraud/wire fraud charge, an allegation for false statements made to a regulatory agency (SEC, IRS, etc.).
Common Corporate Fraud Charges
Corporate Other charges that may arise from corporate fraud investigations include:
■Commodities market manipulation
■Options backdating schemes
■Conspiracy to violate securities laws
■Conspiracy to defraud the United States