What Penalties Do I Face for Fraud Charges in New York City?

Dealing with fraud charges in New York City can be really overwhelming. Like, the legal system here is no joke and the potential penalties can feel harsh. But don't freak out just yet. There are definitely ways to get through this.

Types of Fraud Charges

The most common fraud charges in NYC include identity theft, insurance fraud, mortgage fraud, securities fraud, bank fraud, and your run-of-the-mill credit card or check fraud. The charges can range from misdemeanors to felonies depending on how much money was involved and if you have a prior record.

Penalties for Fraud Charges

The penalties really vary case by case, but here's a quick rundown of what you might be looking at:

Fines

Fines for fraud in New York can be up to $5,000 per charge for a misdemeanor or up to $10,000 per charge for a felony. The judge takes into account ability to pay, so they might reduce the fines if you have limited income.

Restitution

Restitution refers to repaying any money illegally obtained through the fraud. So if you stole someone's identity and charged stuff to their credit card, you'd likely have to pay that money back.

Probation

Probation means you don't serve jail time as long as you follow certain rules and check in with a probation officer periodically. Length of probation depends on the charges but could be 1-5 years typically.

Jail Time

Jail time also varies a lot based on your specific charges. Misdemeanor fraud charges generally carry jail sentences of less than a year while felonies can be 1-4+ years in state prison.

• Identity theft misdemeanors may lead to up to 1 year in jail
• Felony identity theft carries 1-4 years
• Insurance fraud misdemeanors can mean up to 1 year jail time
• Felony insurance fraud is punishable by up to 7 years
• Mortgage fraud penalties range from 2-25 years typically

Community Service

Judges often assign community service hours, like working with a nonprofit organization or picking up litter around the city. This usually ranges from 100-250 hours depending on the charges.

Aggravating vs Mitigating Factors

The judge determines your sentence based on the severity of the charges plus any aggravating or mitigating circumstances.

Aggravating factors

Aggravating factors tend to increase penalties and can include things like:

• Having a previous criminal record
• Committing fraud against a vulnerable victim
• Showing no remorse
• Amount of planning/sophistication
• Abusing a position of trust

Mitigating factors

Mitigating factors may reduce sentences and can include things like:

• Having no prior record
• Showing remorse + cooperating with authorities
• Small amount of money involved
• Acting under duress/coercion
• Taking responsibility + making restitution

Getting an Experienced Fraud Lawyer

As you can see, penalties really run the gamut depending on the specifics of your case. The best thing you can do is retain an experienced New York fraud defense attorney to fight the charges and negotiate for lesser penalties.

Resources

• How to Choose the Right Fraud Lawyer in NYC
• What to Do If You're Facing Fraud Charges
• Mitigating Penalties for Financial Crimes
• Former Prosecutors Explain Fraud Sentencing

I hope this gives you a better idea of potential penalties for fraud charges in NYC. Remember, don't panic and get an experienced fraud defense lawyer on your side ASAP. They can help navigate the complex legal system and achieve the best possible outcome for your specific case. Let me know if any other questions come up!