Federal Criminal Charges For Cryptocurrency Fraud
As cryptocurrency has become more common as an investment opportunity, cryptocurrency scams and fraud are also on the rise. If you have been charged with a cryptocurrency crime or are facing related computer fraud crimes, I founded the Law Offices of Peter Katz after working as both a state and federal criminal prosecutor. I have more than 29 years of experience with the criminal court system and I represent clients throughout New York and New Jersey who are facing serious criminal federal charges.
Who Regulates And Enforces Cryptocurrency Rules And Laws?
In general, the Securities and Exchange Commission (SEC) regulates digital assets and currencies. The Internal Revenue Service (IRS) also tracks cryptocurrency exchanges. Failing to report income from cryptocurrency can be considered income tax fraud. The FBI investigates crimes related to cryptocurrency and recently launched the National Cryptocurrency Enforcement Team to investigate and utilize blockchain analysis tools.
What Is Cryptocurrency Fraud?
Cryptocurrency is digital or virtual money that is secured by cryptography and can be sold online and converted into cash. Blockchain technology is not regulated by a centralized authority and therefore is susceptible to fraud. Federal criminal charges for alleged cryptocurrency and bitcoin scams are usually classified as federal securities fraud crimes. In Bitcoin and cryptocurrency, charges often include allegations of:
- False pretenses and allegations that the defendant misrepresented claims to the victim
- Impersonation and allegations that the defendant pretended to be someone else
- Electronic or wire fraud and allegations that some sort of electronic communication was used to deceive the victim
Federal prosecutors must prove that a defendant knowingly and willfully made a false or intentionally misleading statement, omitted a material fact or acted deceitfully in a transaction with a security, in this case, cryptocurrency. Any criminal federal charges are serious and require an experienced criminal defense attorney who is knowledgeable in white collar crimes.
Consult With A White Collar Criminal Defense Attorney
As a former federal prosecutor, I know and understand how white collar crimes are charged and handled by federal prosecutors. I offer confidential, no-obligation initial consultations for free to prospective clients so that I can understand the facts and circumstances of your case and tell you more about how I can help defend you against the charges against you. To schedule your free appointment, send an inquiry through my online form or call my office at 609-900-2648.