Selecting a Mesothelioma Lawyer
Asbestos has been proven to cause a number of health conditions, including a disease called mesothelioma. While companies that make products using asbestos have known about the negative health effects of their products for as long as 60 years, many of those who worked in their factories were in the dark.
Mesothelioma lawsuits mean big payouts, with lawyers receiving almost half of the final settlement. Suits settled out of court can bring an average of $1 million, and those that go to court often pay an average of $6 million. With that much money at stake, lawyers are jumping at the bit to handle mesothelioma lawsuits. If you’re considering filing a mesothelioma lawsuit, it’s important to find a lawyer with your best interest at heart and with the skills required to find you the best settlement possible.
What should you look for when shopping for a lawyer to handle your mesothelioma case? Here are some things to ask when considering someone for the job.
1. Has the lawyer ever handled a mesothelioma lawsuit before?
2. If so, what was the outcome? How much was the settlement?
3. Does their law firm specialize in mesothelioma cases?
4. Will that particular lawyer be handling your case, or will it be handed off to someone else?
5. If so, whom, and do they have experience with mesothelioma law suits?
6. What percentage of the final settlement will the lawyer receive?
While interviewing prospective lawyers, you want to get a feel for their communication style and how well you feel you’ll get along. Make sure to ask about any fees or expenses that will need to be paid up-front. Generally, lawyers wait until the settlement is in place and simply take their cut.
Investigate several lawyers before making your final decision. Again, your mesothelioma is a serious condition, and you want to make sure you get the settlement you deserve. If you have a bad feeling about a lawyer or don’t feel he or she has the experience necessary to make the most out of your mesothelioma lawsuit, move on to the next candidate. Find out about their reputation; don’t just take their word for it. See what their former and current clients have to say about their satisfaction with that particular lawyer.
You can also find out about their track record through your local Bar Association. Don’t leave your mesothelioma lawsuit in just anybody’s hands. Find the best lawyer possible someone with experience and a stellar track record to make sure you get the best representation available.
http://www.AsbestosNews.com is an online resource for information about mesothelioma cancer and asbestos exposure. Asbestos News has been providing the public with information online since 2001.
How to Pay Less Tax on the Sale of Real Estate!
“It’s not how much you make that counts,” my father told me many years ago, “but how much you keep of what you make.” I did not really understand that old adage at the time, but he was passing on some wisdom that his father had given him. It’s just common sense, but it is amazing how blind most of us, including me, are to the significance of that sentence.
Let’s look at an example involving real estate. Lets say you own a commercial building that will sell for $1,000,000.00. The broker brings a signed contract. Your basis, or cost in the property after $400,000 in depreciation recapture, is $300,000. Eureka, a $700,000 profit! Then, as realization sets in, the income tax on that amount in the top bracket of 39% would be $273,000.
However, since the you owned the property for more than a year, the transaction will qualify for capital gains taxation at 25% for the depreciation recapture and 20% for the balance of the gain so the tax would be reduced to just $160,000. Uncle Sam will not get the $273,000, but will only receive $160,000. Still too much tax, though.
By employing a strategy that is set out in the Internal Revenue Tax Code, you can defer those taxes until ultimate sale or even longer. Section 1031 of the Code provides for the exchange of property for like property. 26 USC Section 1031. Any gain that would have been recognized on the sale or exchange of the property can be deferred and can be utilized to acquire the like property. The tax is not eliminated.
If the new “like” property which is now owned is sold at a future date, the gain from the exchange as well as any additional gain must be recognized for tax purposes. However, by exchanging again, that tax can again be deferred for as long as the taxpayer desires. If the taxpayer is an individual and dies, the heirs receive a “stepped up” basis in the property and can sell the property without recognizing the gain, which was deferred during the taxpayer’s lifetime.
This strategy is extremely effective to maximize “what you keep”. Preservation of principal is the key to amassing wealth. Paying more tax than necessary is certainly not the best use of principal. The $160,000 that would have been paid as taxes when re-invested at 10% would be worth $320,000 in seven years.
The Internal Revenue Code provides for a way to defer the payment of that tax, perhaps indefinitely. There are a number of requirements to be met and types of property that cannot qualify so a review of the statute is appropriate.
First, the properties to be exchanged must be held for productive use in a trade or business or for investment. What does that mean? Any real estate property used in business can qualify: land, commercial properties, office buildings, farms, ranches and rent houses all fit the category.
The properties must be in the United States and not be held primarily for sale as inventory. The U.S. Virgin Islands are considered real estate in the United States. Any property that meets the definition can be exchanged for another property; for example, a ranch could be exchanged for an office building, unimproved for improved, etc.
The statute provides for certain properties that cannot qualify: (A) stock in trade or other property held primarily for sale, (B) stocks, bonds, or notes, (C) other securities or evidences of indebtedness or interest, (D) interests in a partnership, (E) certificates of trust or beneficial interests, or (F) choses in action (lawsuit claims, etc.). So one cannot exchange Berkshire Hathaway shares of stock for Microsoft stock to defer the capital gain.
One does not need to exchange a personal residence because there are other ways to eliminate the gain on sale of those properties. There are ways to deal with partnership interests that involve changing the form of the business structure. However, those issues are involved and beyond the scope of this article.
Second, there must be an actual exchange. You cannot sell property for cash and call it an exchange. The exchange does not have to be simultaneous. You can sell property for cash today and exchange the cash for a property you find later. To qualify for what is known as a deferred exchange you must meet the time requirements that are listed below and you must use a “qualified intermediary”.
A Qualified Intermediary is defined in the regulations to the Code Section. 26 CFR 1.1031(k). The intermediary must be unrelated as to family, employee, or agent relationship. An agent is further defined as “the taxpayer’s employee, attorney, accountant, investment banker or broker, or real estate agent or broker within the 2-year period ending on the date of the transfer of the first of the relinquished properties.” Thus, an independent intermediary such as a member of the American Federation of Qualified Intermediaries is essential to successful tax treatment of the exchange.
The Qualified Intermediary acts as the middleman in the transaction so that the taxpayer does not have actual or constructive receipt of the sale proceeds. The Intermediary can handle financing, construction if necessary, or other tasks in order to complete the exchange. The Intermediary can also provide counsel in structuring the transaction and advising as to the technical requirements. A party to an exchange should also consult both their certified public accountant and their attorney before consummating either end of an exchange. Exchanges are difficult to clean up if the first part was not structured properly.
Third, there are two time deadlines that must be met to preserve the tax-free exchange. Forty-five (45) days after the front end of the exchange (the first property) is closed, the second or replacement property must be identified to the Intermediary in writing. This deadline expires at midnight on the forty-fifth (45th) day and must specifically identify the property by legal description, street address, or some other unambiguous description. Do not risk using “some other unambiguous description” unless it cannot be avoided.
The exchanger no later than one hundred eighty (180) days from the date of the first closing must receive the second, or replacement property. The exchange must be fully closed by that deadline. There are no extensions available. Miss the date and pay the tax.
The last issue in minimizing tax is the replacement property must have an equal or greater value than the relinquished property to avoid all taxes. A property worth $1,000,000 must be exchanged for property worth the same amount or more. If the property received is worth $800,000, then there would be a taxable gain, or “boot”, of $200,000.
The tax on the value of the replacement property in excess of the original basis is still deferred but the excess over the value of the replacement property is taxable at the capital gains rate. Another way to look at it would be, if there is cash or personal property received with the real estate, which means that the cash proceeds from the first part of the exchange were not fully reinvested in the replacement property, gain or “cash boot” will be recognized.
Furthermore, any mortgages on the replacement property must be equal or greater than on the relinquished property. If the mortgage on the first property was for $750,000, then the mortgage on the replacement property must be at least $750,000 or “mortgage boot” must be recognized. If the replacement property mortgage were only $600,000, then the gain would be the difference in the two mortgages or $150,000 unless the exchanger put additional cash boot into the exchange.
Fortunately, the advance planning that goes into the structuring of an exchange can easily avoid or minimize these types of consequences. Coordination with the advisers in the transaction, qualified intermediary, attorney, and accountant, is essential.
The tax-free exchange under Section 1031 of the Tax Code is an extremely important tool in maximizing the return from investments, particularly in the real estate arena, for the property owner. It is likewise a very important tool for those who structure such transactions, such as the real estate broker.
r. Montgomery has been involved in multi-million dollar litigation. His practice now focuses on the structuring of business entities and transactions to reduce potential liability and potential taxation, while maximizing the potential for profit. http://www.jamesmontgomerylaw.com
Permissible Collection Agency Practices
Whether you have an internal debt collection department or a collection agency, there are some things that you have to remember when it comes to debt collection. There are practices to debt collection that are allowed by law and there are those that are simply taboo.
Before you engage in debt collection practices for your collection agency or for your company, you have to familiarize yourself with what is considered to be permissible collection agency practices. Collection agencies actually inspire fear on an erring debtor and this helps collectors fulfill their job. But it would not be wise to lose this advantage if the debtor finds cause to sue you instead because of your unfair collection practices.
Your collection agency or your company’s collections department should stay within the acceptable means of contacting your debtors. You should try to contact your debtors through the post, telephone, telegram or facsimile. The most popular mode is the telephone.
There are certain rules about contacting your debtors. There are laws that prohibit collection calls outside of business hours and late at night. You can only call your debtors from 8 am to 9 pm. If you call outside these hours, your debtors can complain. You can call the debtors at their place of work unless it has been explicitly prohibited by your debtors’ employer. And every time a call is made, it must be kept professional and to the point, without threats and obscene language.
Credit collection agencies’ collectors have been known to contact other people when they cannot find the debtors themselves. This is an acceptable practice. However, these calls cannot be for the purpose of passing on the responsibility to uninvolved parties but only to find the whereabouts of the debtors. You can only contact a third party once and you cannot harass him to reveal what he knows. You are not also allowed to reveal that you are calling to collect a debt and you certainly cannot reveal the particulars of the debt.
In the course of your collection and information gathering activities, remember that you may never misrepresent yourself. You must always introduce who you are and must not assume a position that you are not actually holding, like a tax collector or a federal agent. Just keep to the straight and narrow in your collection activities and you will have no cause to lose money to costly litigations.
Tristan Andrews writes useful articles about collection agencies. Discover and explore the world of debt collections. Find out how using a collection can expand your financial horizons at http://www.advinfoc.com/
Who Gains Access to Your Medical Records: Privacy of Your Medical Records
Medical records are personal matters that most people feel must be kept private. However, little do we know that our medical secrets are harder to conceal from the public eye than we think.
Now, ask yourself how many times have you consulted your family doctor? Have you ever been hospitalized? Have you submitted medical records for the purpose of employment? How about International travel?
The list of people, companies and agencies that may have gained access to your personal records may be longer than you would want it to be. In fact, you may be surprised to find out how medical secrets are made available to the rest of the world - most of it your own undoing. The list below will give you an idea of why there are no secrets where your medical records are concerned:
1. The good old family doctor. Obviously, doc has to know your conditions in order to give you a diagnosis and treat your medical conditions at the time of sickness.
2. Nurses and hospital staff that administer tests or assist the doctor in any way.
3. If you’ve ever been hospitalized, then you have a set of medical records there as well that is separate from that with your family doctors’.
4. Your health insurance provider. For them to insure you, they had to analyze the risks involved of taking you into their wing. They definitely have your medical records, no doubt about it.
5. If you are a Canadian and/or U.S. resident, then your medical records may also end up with the Medical Information Bureau (MIB). Your files are made available to MIB by your health insurance provider, if they are one of the 750 insurance companies considered as members of MIB. MIB uses codes to classify and record the medical condition(s) that you have had or currently have right now.
6. Government agencies also have access to your records.
7. Schools and other institutions or groups that you might have had membership in which required you to submit a detailed medical history or record.
8. Medical research may sometimes include medical records of patients with diseases or conditions that need further studies. If you have a condition that interests them, chances are they have a file on you.
9. Medical marketers, medical surveys and the like. Anyone who may have had access to surveys or questionnaires regarding your health might have a medical file on you. This way, they can offer you products and services tailor fit to your medical needs.
This list may go on, but frankly, why worry about who knows what about your medical record(s)? No need to get stressed over this because the last thing you’ll probably want is to add on to the medical information that will be passed on the people who indeed have access to your file. So relax, enjoy life and stay healthy!
Tristan Andrews writes useful articles about collection agencies. Discover and explore the world of debt collections. Find out how using a collection agency can expand your financial horizons at http://www.advinfoc.com
22 Facts, Every Plaintiff Should Know About Lawsuit Funding - Lawsuit Loan
Most of the plaintiffs involved in lawsuits do not realize they can get cash advance before their case settles. It is called as lawsuit funding and often referred as lawsuit loan, legal finance, lawsuit cash advance, litigation financing, legal financing, pre-settlement loan and plaintiff cash advance.
The following 22 facts, every plaintiff must know about lawsuit loans. I hope these will help and guide them to take a knowledgeable and judicious decision.
1. Who is eligible for Lawsuit funding?
If you are a plaintiff, involved in any of following lawsuits (but not limited to), i.e.: personal injury, auto accident, malpractice (medical, legal, construction), employment discrimination, fraud, product liability, breach of contract, Mesothelioma, negligence, workers compensation, civil rights, class action, patent infringement, whistle blower (qui tam), workers compensation (not in all states), wrongful death, commercial litigation etc.; and if you are represented by an attorney, you may be eligible for a cash advance or legal financing on your pending settlement.
2. How can I benefit from lawsuit funding?
Many plaintiffs are forced to accept a low offer due to the financial hardship that many victims experience soon after their personal injury. An advance on your settlement will allow your attorney the time needed to get the full value for your case.
3 - What types of cases are funded by lawsuit pre-settlement funding companies?
A good company would provide cash advances on mostly all types of cases. The most common types are listed in fact number 1.
4 Is good credit & employment necessary?
No, the lawsuit funding or legal financing is not based on credit history, unless there is a pending bankruptcy. Applicant may have bad credit score and no employment.
5. Why don’t I just get a bank loan?
Traditional financial institutions, including banks, do not generally lend solely on the merits of a lawsuit. They deem the practice of lawsuit finance or lawsuit funding as too risky.
6. Is this a lawsuit loan?
No, this is not a loan. It is actually non-recourse cash advance on the future value of your case. Unlike a loan, if you lose your case you owe nothing in return.
7. Why is this not a loan?
Loans are repayable absolutely. A loan is type of financial aid which must be repaid, with interest. But lawsuit cash advance, legal finance or lawsuit funding is actually purchasing an interest in your settlement. So, if you lose your case, you do not owe the funding company anything.
8. Do I owe any up front out-of-pocket fees or costs? Are there any additional fees, such as monthly fees, involved?
Absolutely NO! A good lawsuit financing company should not charge any upfront fee or any application fee, processing fee or any monthly fee. There should be only a single fee for the lawsuit loan, based upon the length of time to settlement of your case. There will be a specific repayment amount, due and payable only after the case resolves itself successfully. And if the case is unsuccessful, there is no repayment required.
9. Will I have to sign any documents? Will my attorney be required to sign any documents?
Yes. You will need to sign an application and after you are approved for lawsuit loan, you and your attorney will sign the Funding Agreement.
10. How big an advance on my settlement can I get?
Lawsuit cash advances are generally limited to, from 10% to 15% of the projected case value. The minimum advance is $250 and the maximum amount available on a single case is one million dollars.
11. How would this help me get more money for my case?
The defendant, in order to save time and money and settle the case early, will offer you far less than what the case is really worth. If you need immediate financial help you may feel pressured to take an earlier (and often smaller) settlement. Lawsuit funding or so called lawsuit loan can ease your immediate financial needs and allow your attorney to continue to fight for a fair larger award.
12. Is the defendant insurance company notified?
No, the only parties who know about the transaction are you (the plaintiff), your attorney handling your case, and lawsuit funding company.
13. How long does it take for me to get the funds?
If you are eligible you can have your approval decision within 72 hours after reviewing your case documents. Funding company will wire your approved lawsuit funds into your bank account or can Fed Ex your funds within 24 hours of receiving your signed Funding Agreement via fax from your attorney.
14. How is the lawsuit cash advance paid back?
The lawsuit loan is repaid out of the financial settlement award from the case. It is paid at the same time that the proceeds of the claim are paid out to you.
15. What happens if I lose my case?
You owe absolutely nothing in return! The money advanced to you is yours to keep.
16. What can I use the money for?
Anything you like. It is your money. You pay your bills, mortgage and car payments. You can take care of education expenses of your children and pay your medical bills.
17. What if I need more money later?
If you have not received all the money, lawsuit funding company may be able to advance you more on your case. You can make another request for additional settlement funding or pre-settlement funding at a later date.
18. Does the legal finance company get involved in my lawsuit case?
NO. They have no input or control in your case. They do not get involved in the attorney-client relationship. All management and decisions pertaining to your case are made by you and your attorney. They have no role in the pursuit of your case. They only involvement is to initially review your case papers, so they can evaluate the claim.
19. Is this legal?
Yes. The claim or lawsuit is yours and you own it, just like you own a piece of property. After paying your attorney and medical liens (if applicable), the potential remaining money is yours. You may sell or assign it.
20. How will my attorney feel about me doing this?
Attorneys are sympathetic to the financial strain their clients can experience. In some states, attorneys are not permitted to assist clients financially, but they are allowed to assist in seeking third-party financing, such as plaintiff lawsuit finance or lawsuit funding.
You can apply for lawsuit funding without consulting your attorney first. However your attorney plays an important role in getting your lawsuit funding.
Attorneys are typically eager to help a client obtain plaintiff funding because it may mean that a long legal proceeding won’t end with the client having no choice other than to accept a low settlement offer.
Applying for plaintiff funding does not interfere with the agreement between you and your attorney in any way.
21. Why my attorney can not lend me money?
The American Bar Association prohibits attorneys from lending money to clients for anything but case expenses. This prohibition exists to prevent a conflict of interest from arising. If you owed your attorney money you might feel pressured to accept your attorney’s advise to settle your case when you really did not want to accept the amount offered. No. This would cause a conflict of interest because your attorney would now be your creditor. In fact, the American Bar Association expressly prohibits attorneys from loaning money to their clients for anything other then case-related expenses.
22. Is this process confidential?
Yes the total process is confidential, private and quick. Underwriters take a look at your case documents and determine if they think you have a good chance of collecting on your claim. These are the same documents that your attorney prepared to fight your case. If they think your chances to win are good, they will offer you a cash advance.
Paul Sherman is a Legal Funding Consultant. He offers free, professional, and independent advice to plaintiffs (incl. business owners) & Attorneys. To apply for Lawsuit loan & Structured settlement funding please visit: http://www.easylawsuitfunding.com
Advantages of Commercial Lawsuit Loan - Business Lawsuit Funding
Business or commercial world is not a perfect one. There can be a dispute or controversy in day to day business transactions. Commercial transactions can give rise to commercial disputes. Every business dispute, however minor it may look like, has the potential to become an expensive lawsuit.
Commercial disputes often turn into litigation, and the victim party takes the help of an expert commercial litigation attorney and turn to the courts for resolution of the dispute.
Ideally you should hire an expert attorney on a contingency fee arrangement. So that, you do not have to pay your attorney unless you win or settle the case (however, a client may be charged for court costs and expenses). Contingency fee also provides a powerful motivation to the attorney to work diligently on the client case.
As you know commercial litigation takes long time to resolve & can be daunting. Litigation time can be worrisome for most of plaintiff business people. The stakes are high and future of your business may be uncertain. The financial, commercial and personal risk is always significant with the outcome, often making or breaking the plaintiff and his or her business.
Cash flow for plaintiffs involved in commercial lawsuit is critical to maintain and their financial stability is at great risk. Most of the times, expenses related to the litigation can drain the personal and business financial assets. Investors also pull away their financing because of the uncertainty of the outcome of your lawsuit. Your customers also do not take it kindly. In short, its effects are overwhelming.
Many plaintiffs businesses in this situation have no other choice but to accept a low settlement for a case that could be worth hundreds of thousands & millions.
But there is a silver lining in the dark clouds. Most of plaintiffs involved in commercial lawsuits do not realize they can get cash advance before their lawsuit case settles. This is called as commercial lawsuit funding and some times referred as commercial lawsuit loan, commercial legal finance, business litigation loan, and business lawsuit settlement cash advance. But these are not loans because the money does not have to be paid back unless the case is won or settled.
Commercial or business lawsuit funding or legal finance is non- recourse lawsuit loan or cash advance. It carries no risk because plaintiffs owe nothing if they lose the case. Lawsuit pre-settlement funding programs provide them with immediate cash to give them and their attorney time to negotiate a larger cash settlement!
Commercial lawsuit funding allows a plaintiff involved in a business or commercial lawsuit to leverage the expected settlement from his or her case to obtain the capital required now. The advantages of using commercial litigation funding are multifold.
Most important of these are:
1. When you apply for a commercial lawsuit funding or lawsuit loan from a reputed company, there is no application fee or any upfront fees involved. Also, if you are approved for funding, you are still not obligated to accept the advance.
2. It helps to maintain financial stability in cases where commercial lawsuit is impacting your firm cash flow.
3. Business lawsuit loan is based on the strength of lawsuit and how the plaintiff spends it, is unrestricted. You can use the funds:
(a) To pay down debt, maintain or invest in your business expansion,
(b) Use the cash advance for fixed and variable costs such as payroll and operating expenses. Funds can also be used to invest in the expansion of your business, which maintains the confidence of creditors, investors, and employees,
(c) Keep your personal finance and obligations in balance.
4. Commercial lawsuit loan is non-recourse so there is no risk involved. Plaintiff firm is liable for repayment only if they receive a settlement or they win at trial.
5. Amount available for commercial lawsuit funding is virtually limitless from $10,000 to well over $10 million on a single case.
Most of commercial lawsuit cases that can qualify for lawsuit funding include, but are not limited to:
a. Fraud
b. Breach of Contract or Contract disputes
c. Real-Estate disputes
d. Conversion
e. Copyright claims
f. Environmental Litigation
g. Patent or Copyright infringement & other Intellectual Property
h. Securities Fraud & Shareholder Litigation
i. Consumer Fraud litigation
j. Negligence
k. Civil Conspiracy etc.
A lot of plaintiffs businesses are being forced to settle their commercial lawsuits early, for way less than they deserve because they simply can not afford to wait any longer due to their financial limitations. But with the help of lawsuit loan or legal finance, they do not need to settle for less than their case is worth.
Paul Sherman is a Legal Funding Consultant. He offers free, professional, and independent advice to plaintiffs (incl. business owners) & Attorneys. To apply for Lawsuit loan & Structured settlement funding please visit: http://www.easylawsuitfunding.com
10 Mail & Wire Fraud Statute Facets
Fraudulent misrepresentations and schemes to defraud which use the United States mail to further that fraudulent conduct, can be prosecuted as mail fraud. Also, another commonly used federal law to prosecute misrepresentations and frauds is the statute known as “wire fraud.”
The United States Attorney Office will seek an Indictment (a charging document formally charging the person with a crime) for mail fraud when the prosecution believes it has evidence of any fraud scheme that uses the mail systems to make that fraud scheme function. There is no specific requirement for the type of fraudulent scheme that has to be alleged by the U.S. Attorney Office, only that there is some kind of fraud or misrepresentation wherein the U.S. mails or commercial carriers are used to mail an item related to the scheme, such as a check, a contract, an application for credit, property valuations, etc. Originally, the mail fraud statute required some type of use of the U.S. mail; now, the statute requires the use of either the U.S. mail or any mail carrier in an attempt to carry out the fraud.
The United States Attorney Office will also seek an Indictment alleging wire fraud when it believes that the evidence will support any type of scheme to defraud that uses interstate wire communications further the fraud scheme. Wire communications utilized by persons who were engaged in a scheme to defraud are often the following: wire transfers of monies to or from a financial institution; electronic mail (e-mail) communications; facsimile (FAX) transmissions; and radio or television communications.
The United States Code contains federal crimes that are prosecuted by the Department of Justice or its field offices, the United States Attorney Offices, in respective districts in the different states. Title 18, United States Code, Section 1341, is titled Frauds and Swindles, and it is commonly referred to as the mail fraud statute. Title 18, U.S. Code, Section 1341 reads as follows (in summary)…
MAIL FRAUD
Whoever
1) having devised, or intending to devise any scheme or artifice to defraud,
or
2) for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, or to sell, dispose of, loan
3) something of value or some item and
4) places in any post office or authorized depository for mail matter
5) any item to be delivered by interstate carrier
shall be fined or imprisoned for not more than 20 years, or both.
WIRE FRAUD
The violation of wire fraud is also a commonly used criminal law used to prosecute people for committing fraud while using wire communications that travel interstate or internationally.
Under Title 18, United States Code, Section 1014, it is a federal crime to commit fraud using a wire communication that travels in interstate or foreign commerce. 18 U.S.C. 1343 reads as follows
Fraud by Wire, Radio or Television (Wire Fraud) -
Whoever
1) having devised, or intending to devise any scheme or artifice to defraud, or
2) for obtaining money or property by means of false or fraudulent pretenses, representations, or promises
3) transmits, or causes to be transmitted, by wire, radio or television communication in interstate or foreign commerce,
4) any writings, signs, signals, pictures, or sounds
5) for the purpose of executing the scheme or artifice
shall be or imprisoned for more than 20 years, or both.
Neil Lemons represents Dallas-based criminal attorney John Teakell, who offers defense for wire and mail fraud as well as other white collar offenses. For more information, visit http://www.teakelllaw.com.
20 Basic Facets to Money Laundering Law
“Money laundering” as it is commonly called, involves the transfer of monies that are a product of criminal activity - whether that activity is drug trafficking related or white collar crime related. Although there is a fairly broad definition of money laundering, the federal money laundering laws were enacted to attempt to take the profit out of criminal activity.
Congress has passed several laws over the years to prevent profits of criminal activity from being utilized, such as Currency Transaction Reports. The Anti-Money Laundering Statutes criminalizes the movement and use of profits/wealth created by criminal activity. See Title 18, United States Code, Sections 1956 and 1957.
Many people have concerns about these statutes, included the apparently broad application of these statutes, especially concerns about reaching into legitimate business activities. A common example of this concern is a scenario where an individual or business handles money with no knowledge of any criminal origin, which could result in prosecution for money laundering in federal court.
In summary, the government has to prove that a person knowingly made some transfer or transaction with monies that were proceeds of a specified unlawful activity. The two commonly used statutes in federal courts, 18, U.S.C., Sections 1956 and 1957, list the specified unlawful activities that are the basis for federal money laundering.
Key Aspects of the Money Laundering law num. 1956. Laundering of Monetary Instruments include:
(a)
(1) Whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction which in fact involves the proceeds of specified unlawful activities:
(A)
(i) with the intent to promote the carrying on of specified unlawful activity; or
(ii) with intent to engage in conduct constituting a violation of section 7201 or 7206 of the Internal Revenue Code of 1986; or
(B) knowing that the transaction is designed in whole or in part:
(i) to conceal or disguise the nature, the location, the source, the ownership, or the control of the proceeds of specified unlawful activity; or
(ii) to avoid a transaction reporting requirement under State or Federal law,
shall be sentenced to a fine of not more than $500,000 or twice the value of the property involved in the transaction, whichever is greater, or imprisonment for not more than twenty years, or both.
(2) Whoever transports, transmits, or transfers, or attempts to transport, transmit, or transfer a monetary instrument or funds from a place in the United States to or through a place outside the United States or to a place in the United States from or through a place outside the United States.
Neil Lemons represents Dallas-based criminal attorney John Teakell, who offers defense for money laundering and other white collar offenses. For more information, visit http://www.teakelllaw.com.
On-line Solicitation of a Minor For Sexual Purposes: The Legality Behind The Charge
On-line solicitation of a minor for a sexual purpose, that is, with intent to commit a sexual activity with that minor, is one of the most investigated and targeted activities by both federal and state law enforcement in this day and age. The on-line solicitation as it is known as, is usually in the form of contact by electronic mail (e-mail), instant messaging, or other use of the Internet.
The contact with a minor (underage person), often a male contacting an underage female, becomes a violation of state and federal law when the conversation turns to content of a sexual nature to the extent that it appears that the contacting person is communicating in a sexually explicit manner with the contacted person.
Often, persons are prosecuted pursuant to these laws when a person arranges to meet the minor to engage in sexual activity. However, the person making the on-line communication may be prosecuted even if he does not follow through with contact with the minor, but rather merely communicates in a sexually explicit manner. Also, persons can be prosecuted here if they forward sexually explicit material to the minor.
Both the United States Code (federal criminal laws) and the Texas Penal Code (state criminal laws) contain laws against on-line solicitation of minors for a sexual purpose. Below is the law in state courts in Texas against solicitation of a minor using the Internet (on-line solicitation), as set out in Texas Penal Code Section 33.021:
ONLINE SOLICITATION OF A MINOR (Texas Penal Code 33.021)
(a) In this section:
(1)”Minor” means:
(A) an individual who represents himself or herself to be younger than 17 years of age; or
(B) an individual whom the actor believes to be younger than 17 years of age.
(2) “Sexual contact,” “sexual intercourse,” and “deviate sexual intercourse” have the meanings assigned by Section 21.01.
(3) “Sexually explicit” means any communication, language, or material, including a photographic or video image, that relates to or describes sexual conduct, as defined by Section 43.25.
(b) A person who is 17 years of age or older commits an offense if, with the intent to arouse or gratify the sexual desire of any person, the person, over the Internet or by electronic mail or a commercial online service, intentionally:
(1) communicates in a sexually explicit manner with a minor; or
(2) distributes sexually explicit material to a minor.
(c) A person commits an offense if the person, over the Internet or by electronic mail or a commercial online service, knowingly solicits a minor to meet another person, including the actor, with the intent that the minor will engage in sexual contact, sexual intercourse, or deviate sexual intercourse with the actor or another person.
DEFENSES TO AN ON-LINE SOLICITATION CHARGE
The following are defenses to the On-Line Solicitation of a Minor per Section 33.021 of the Texas Penal Code, and are contained in paragraph (e) of this statute:
(e) It is a defense to prosecution under this section that at the time conduct described by Subsection (b) or (c) was committed:
(1) the actor was married to the minor; or
(2) the actor was not more than three years older than the minor and the minor consented to the conduct.
The following are not defenses to this state statute of on-line solicitation, as per the statute itself, Section 33.021. This portion of the statute actually prevents a person from claiming that he was not serious about the content of the communication with the minor:
(d) It is not a defense to prosecution under Subsection (c) that:
(1) the meeting did not occur;
(2) the actor did not intend for the meeting to occur; or
(3) the actor was engaged in a fantasy at the time of commission of the offense.
Neil Lemons represents Dallas-based criminal attorney John Teakell, who offers defense for online solicitation of a minor for sexual purposes as well as other sexual offenses. For more information, visit http://www.teakelllaw.com.
5 Legal Points Concerning Bank Fraud Crime
Violations of law at a bank or by using accounts of a financial institution are commonly prosecuted in federal court as “bank fraud.”
The United States Attorney Office will seek an Indictment (a charging document formally charging the person with a crime) for bank fraud based upon a relatively non-complex theft or embezzlement of monies by a bank employee, or a more complex scheme to defraud based upon false statements, such as an overvaluation of property or securities. Also, the federal prosecutor office will seek an Indictment for bank fraud based upon a complex scheme to defraud, such as a scheme based upon a series of false loan applications and misuses of loaned monies or non-existent collateral.
The United States Code contains federal crimes that are prosecuted by the Department of Justice or its field offices, the United States Attorney Offices, in respective districts in the different states. Title 18, United States Code, Section 1344, titled Bank Fraud, makes it a crime to defraud a bank or commit a scheme to defraud regarding the accounts of a financial institution. Title 18, U.S. Code, Section 1344 reads as follows:
BANK FRAUD
Whoever knowingly executes, or attempts to execute, a scheme or artifice
1) to defraud a financial institution; or
2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody of or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises; shall be fined not more than $1,000,000 or imprisoned for more than 30 years, or both.
FALSE STATEMENTS
The violation of making a false statement to a financial institution is also a commonly used criminal law used to prosecute people for making misrepresentations to fact to a bank. The crime of making a false statement is often utilized when federal prosecutors are investigating a person for bank fraud or violations concerning a financial institution. Under Title 18, United States Code, Section 1014, it is a federal crime to make a false statement to a financial institution. 18 U.S. C. 1014 reads as follows (in summary):
False Statements to a Financial Institution
Whoever knowingly
1) Makes a false statement, or overvalues any property
2) For the purpose of influencing an anyway
3) The action of a financial institution
shall be fined not more than $1,000,000 or imprisoned for more than 30 years, or both.
Neil Lemons represents Dallas-based criminal attorney John Teakell, who offers defense for bank fraud as well as other white collar offenses. For more information, visit http://www.teakelllaw.com.