The Florida man convicted of grand theft for embezzling roughly $15 million from Marian Gardens Tree Farm was recently given a 12 year sentence in Florida Circuit Court. The white collar crime prosecution is unusual because the man had already been convicted and sentenced to 8 years in prison as part of a federal criminal prosecution in 2009. This so-called "dual prosecution" is highly unusual.
Citing the 150 year sentence given to Bernie Madoff, despite Madoff's guilty plea, federal prosecutors are seeking a maximum sentence for former Taylor, Bean & Whitaker majority owner Lee B. Farkas. He was convicted on multiple counts of fraud in April and could be sentenced to as many as 385 years in prison. His sentence will likely be one of the longest ever laid down in a white collar criminal case.
The massive bank fraud case involving Lee Farkas and other members of Taylor, Bean & Whitaker Mortgage Corp. has led to numerous prison sentences, with more coming every week. The mortgage company's fraud scheme led to the financial collapse of both Taylor Bean and Colonial bank, one of the largest banks in the country. This week, the former treasurer and former president of the Ocala-based company were sentenced to 6 and 2.5 years in prison, respectively. More penalties will be forthcoming.
Two Florida-based companies, Medlink Professional Management Group and American Therapeutic Corp., entered guilty pleas in U.S. District Court on Tuesday. The charges stemmed from a Medicare fraud scheme that resulted in more than $200 million in improper claims.
The federal government expends significant resources investigating and prosecuting cases involving housing industry crime. Anyone thought to be involved in a scheme to defraud a bank or other party to a mortgage may find themselves charged in federal court. A person accused of mortgage fraud, bank fraud or real estate fraud faces severe penalties if convicted.
Being accused of being involved in a major bank fraud scheme can result in a person facing severe consequences. Such accusations can lead to a person facing numerous criminal charges. A person can receive harsh criminal penalties if they are convicted of these types of charges. These penalties could include a large jail sentence.
As of recent, the media and the government have been giving a fair amount of attention to financial crimes like investment fraud. Thus, the consequences of being convicted of these crimes can be quite great. This can be seen in a recent fraud case from Florida.
Authorities can be very aggressive in their pursuit of fraud-related crimes. A lot media attention in Florida is given to the enforcement of real estate and health care fraud, because these are crimes that are seen as being particularly prevalent in this region.
Law enforcement uses a wide variety of sources and tools in pursuing individuals accused of crimes. Thus, information which leads to an arrest can sometimes come from an unusual series of events. This can be seen in a recent white collar crimes case, where a bloody nose and a pacemaker led to the arrest of a Florida couple.
As authorities put a greater focus on pursuing fraud cases, they will start to look to new places to find potential prosecutions. One such place is the internet. Prosecutors have begun to look more closely at internet companies as potential sources of fraud schemes. This is demonstrated by a recent case involving a Florida man.