Credit card theft and fraud are typically felony offenses in Michigan. Under the Michigan Penal Code, financial transaction device refers to credit cards, debit cards, and other instruments used to access financial accounts. On the state’s crime code list, only three...
White-collar crimes are committed for financial gain. Thus, they are usually non-violent and may go on for years before the victim or law enforcement catches the perpetrator. Examples of white-collar crimes include money laundering, fraud, tax evasion, embezzlement...
A 33-year-old woman has admitted to defrauding food and nutrition benefit programs out of more than $1.1 million. The woman pleaded guilty to a single count of wire fraud on March 28. Her plea was announced by the U.S. Attorney’s Office for the Eastern District of...
Healthcare and health insurance fraud are serious issues that cost millions annually. Fraudulent activities can involve patients, healthcare providers and insurance companies in Michigan, and can take many forms. Billing fraud Billing fraud occurs when healthcare...
A Michigan man has admitted to embezzling $870,000 from the bank that employed him and failing to report the money on his federal tax return. The 52-year-old Grand Rapids resident entered guilty pleas to single counts of embezzlement and tax evasion on March 6. The...
Stockbrokers in Michigan and around the country engage in circular trading when they submit sell order knowing that corresponding buy orders will be entered for the same number of shares at the same price. Circular trading does not change the ownership of shares, but...
Most Michigan residents hire a professional to complete their tax returns, but what should they do if their tax preparer makes a mistake that costs them money? The latest tax preparation software is designed to identify errors and ensure that taxpayers claim all of...
The U.S. Securities and Exchange Commission (SEC) strictly penalizes Michigan investors who influence market prices based on insider information that isn’t available to the public. While buying and selling stocks can create shifts in the market that give other...
Financial crimes don't just hit a handful of people. Criminal acts that involve unlawfully collecting someone else's benefits impact all Michigan residents. They create tax gaps that impact services and government programs, and such fraud makes it more difficult for...
The crime of racketeering violates both federal and Michigan state laws. While the federal government originally created the term as a way to address illegal organized violent crime, racketeering now includes ongoing white-collar crimes as well. Defining racketeering...