Doral Wire Fraud Lawyers – Protecting Your Rights
Wire fraud is a serious white collar crime that can lead to substantial prison sentences and financial penalties. If you or your business are being investigated for or charged with wire fraud related to activities in Doral, having an experienced lawyer on your side is critical.
This article provides an overview of Doral wire fraud issues and how a knowledgeable lawyer can defend your rights. We’ll cover:
- What constitutes wire fraud
- Notable Doral wire fraud cases
- Potential penalties
- Building an effective legal defense
What is Wire Fraud?
Wire fraud refers to using electronic communications or funds transfers to execute fraudulent schemes to obtain money or property[1].
To be convicted under federal wire fraud statutes, prosecutors must prove:
- The defendant created or participated in a scheme to defraud another out of money or property
- The scheme involved materially false statements, misrepresentations, or concealed facts
- The defendant had intent to defraud
- Interstate wires were used to execute or further the scheme
This covers things like email, phone calls, text messages, wire transfers, and online banking or payments.
High Profile Doral Wire Fraud Cases
Doral and the surrounding Miami area have seen several major wire fraud prosecutions over the past decade. Understanding the details of these cases can help illustrate what constitutes wire fraud.
Doral Financial Corporation
In one notable case, former Doral Financial Corporation executive Mario S. Levis was convicted in 2010 on securities and wire fraud charges related to a multi-year accounting fraud scheme from 2001 to 2005[2].
Prosecutors successfully argued that Levis and others used electronic communications and wire transfers to falsely inflate Doral’s financial statements, masking major losses. This temporarily inflated stock prices, until revelations around the fraud saw share prices plunge, wiping out $4 billion in market value[3].
Levis was ultimately sentenced to 5 years in federal prison and ordered to forfeit $5 million in illicit gains from the scheme[4].
Other Real Estate & Mortgage Fraud
South Florida’s hot real estate market has unfortunately also attracted numerous wire fraud schemes over the years.
In one 2022 case, a Doral real estate professional was allegedly part of a wire fraud operation that swindled an investor out of $408,500[5]. The case apparently involved inflated property appraisals and fake listings to convince an investor to wire funds, which were then misappropriated.
Penalties for Wire Fraud
Those found guilty of wire fraud charges can face severe criminal and financial penalties, including:
- Up to 20 years in federal prison
- Fines up to $250,000 per count
- Forfeiture of illicit proceeds
- Restitution to victims
Sentences often increase based on the scope of the fraud and the dollar amount of losses. The court may also tack on supervised release, community service, or probation following incarceration.
Building an Effective Legal Defense
Facing wire fraud accusations can be an incredibly stressful and damaging experience. The complexity of these financial crime allegations means having an experienced white collar criminal defense lawyer is critical.
An attorney well-versed in wire fraud law can carefully assess the prosecution’s case and identify opportunities to challenge or undermine their arguments. This includes reviewing evidence for:
Lack of intent – If the defense can show you did not intend to defraud others, did not make false statements intentionally, or were unaware of material facts, it may defeat wire fraud charges.
No “scheme” – Similarly, if the lawyer can demonstrate there was no actual scheme or coordinated effort in place, it may undermine prosecution claims.
No interstate wires – If electronic communications or financial transactions did not cross state lines, they may fall outside federal jurisdiction.
Beyond offense-specific defenses, an attorney can also leverage legal procedures and protections to safeguard your rights, such as ensuring proper protocols were followed during investigation and securing exclusionary remedies for Fourth Amendment violations.
For the best chance at avoiding harsh penalties, securing experienced legal counsel early in the process is key. Doral wire fraud lawyers have the skills and knowledge to carefully analyze the prosecution’s case, identify exculpatory evidence, and build a defense targeted to the specifics of your matter.
With so much at stake, protecting your rights and future requires a lawyer who knows federal fraud statutes and procedures inside and out. Contact our office today to schedule a free case assessment with an accomplished Miami wire fraud attorney.