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White collar crimes: Man accused of fraud trifecta

| Aug 5, 2019 | White Collar Crimes |

Anyone in Michigan or elsewhere who faces federal wire fraud charges will no doubt recognize the severity of the situation and will likely seek experienced legal counsel. Wire fraud is one of many white collar crimes that go through the nation’s courts each year. A 62-year-old man in another state recently pleaded guilty on charges related to his hyperbaric oxygen chamber business.

Hyperbaric oxygen therapy is a treatment that scuba divers use to treat decompression sickness. It is also used to treat severe infections and for hard-to-heal wounds resulting from radiation therapy or diabetes. According to court documents, the businessman received loans totaling over $770,000 after making false claims that he applied for the loans with the authorization of his business partners.

He also pleaded guilty to falsely charging a parent $230,000 for treatment that he never administered to the child. The man is accused of misleading lenders and his business partners and stealing from the child’s parents. Prosecutors claim the defendant left his business partners with the loan obligations while he used the proceeds for personal enrichment.

When a person in Michigan faces charges for white collar crimes, the most sensible step to take is to secure the services of an experienced criminal defense attorney as soon as possible. Legal counsel can explain the available options after scrutinizing the charges and the evidence. In pursuing the best result possible for the accused person, the lawyer can challenge the prosecutor’s case at trial. The attorney might suggest that this could be best achieved by negotiating a plea agreement, which might include an arrangement to plead guilty on some of the charges.