A Pennsylvania man is facing
criminal chargesafter being arrested for fraud. The federal fraud charges stem from supposedly
taking about $400,000 from his clients. According to his legal representative,
the man has chosen to plead guilty to the criminal charges brought against him.
The man was the operator of a home-based company that handled investments,
stocks and currency trading for clients. Over the course of a few months,
he received over $400,000 from his clients intended for investment. However,
he supposedly invested just more than $100,000 of the money. According
to the investigator's report, the rest of the money was used by the
man without the knowledge of the clients.
The prosecutors even claim that the man withdrew the remaining balance
of the money received and spent that as well. If he does in fact plead
guilty to these charges, it is possible that he could face jail time,
fees and other various penalties. If he chooses to seek a plea deal, however,
any arrangement would have to be approved by a federal judge.
Federal criminal charges are very serious and are best faced when a Pennsylvania
defendant has enlisted legal assistance. A legal defense team can assist
a person as he or she navigates the rather complicated legal system. In
this case, a guilty plea may be the best option because of evidence that
is brought by the prosecution. Occasionally, a plea deal may be the best
way to get the lowest possible fines, penalties and jail time. This will
differ on a case-by-case basis, and legal decisions should be made after
Pa. man charged in $400,000 fraud case, No author, March 3, 2014