Highly Effective Criminal Defense, Real Estate And Estate Planning
Attorney Bryan E. Cameron

What can NY business owners do after being charged with fraud?

| Oct 8, 2020 | Criminal defense

A former Shoplet vice president has pleaded guilty to embezzling $6 million from the company. He was hired in 2006 and convinced the business to start using PayPal in 2007. From 2013 to 2019, he transferred millions of dollars from Shoplet’s PayPal accounts into his own PayPal accounts. To keep his co-workers from noticing the transfers, he embezzled less than $1,000 at a time. PayPal did send email notifications about the transfers, but since the man had access to the corporate email account, he simply deleted the emails before anyone noticed.

The man used the funds to buy luxury goods like expensive vehicles, designer clothes and trips around the world. In 2019, Shoplet sued the man for embezzlement, breach of duty and other charges. If convicted in the criminal case, he faces up to nine years in prison and might have to pay up to $1.5 million in restitution. According to prosecutors, the man will have to sell his house and use the proceeds to pay restitution to Shoplet.

Where can business owners turn for guidance after being charged with fraud?

If a business owner is accused of fraud or embezzlement, their entire business might be at risk. They can lose customers and investors, which results in a massive drop in profits. If the situation gets bad enough, they might have to shut their doors altogether and look for a new line of work.

When facing accusations of fraud, a business owner might find it helpful to hire an attorney. An attorney might have experience with a wide range of cases including welfare fraud, unemployment fraud and corporate fraud like embezzlement. They might be able to offer guidance throughout the trial and help their client negotiate for the best possible outcome. They can also give their client legal advice to prevent them from incriminating themselves.