Much of white-collar crime and fraud is done at the Federal level (although there are plenty of state statutes and criminal penalties against this type of crime as well, at least in Texas). Federal crimes are, by their very nature, generally reserved for more complex crimes or crimes which have a higher financial loss. This makes sense because their are far more State and local proscutors and judges than Federal judges or United States attorneys. Our legal system (the U.S. legal system) has developed over the years so that Federal white collar crimes generally (but not always) involve greater financial loss to a person or entity. There are other ways in which Federal jurisdiction can be invoked, but that is beyond the scope of this posting.
We will spend the next few posts discussing punishment for crimes at the Federal level. Federal sentencing (the jail time and/or punishment for crimes) is a law school course all on its own (I should know since I myself studied this in law school), but there are some basic principles about which we can discuss Federal sentencing and crimes. This is important for our ongoing discussions on fraud since many times when we read or hear about a fraudster being imprisoned, it is at the Federal level and there are often questions about how or why the defendant received the sentence he did (think Bernie Madoff).
So, for the next week or so, let's discuss how a defendant is sentenced for a crime at the Federal level either after he pleads guilty or after he goes to trial and loses.
We will spend the next few posts discussing punishment for crimes at the Federal level. Federal sentencing (the jail time and/or punishment for crimes) is a law school course all on its own (I should know since I myself studied this in law school), but there are some basic principles about which we can discuss Federal sentencing and crimes. This is important for our ongoing discussions on fraud since many times when we read or hear about a fraudster being imprisoned, it is at the Federal level and there are often questions about how or why the defendant received the sentence he did (think Bernie Madoff).
So, for the next week or so, let's discuss how a defendant is sentenced for a crime at the Federal level either after he pleads guilty or after he goes to trial and loses.
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tausk
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