On September 24th, 2013 in Morristown, N.J, the court ordered Minnesota Vikings owners Zygi and Mark Wilf and their cousin to pay $84.5 million in a fraud case. They defrauded their two former business partners in 1980’s real estate deal. So, court ordered them to pay $84.5M to their former business partners named Halpern and Reichmann.
They worked with Wilf’s family to construct a 764-unit apartment complex in Montville, N.J. The case was filed when Halpern and Reichmann were cut out of revenues, who were business partners with the Wilf’s family.
Wilf family attorney said that the decision had unfairly deprived the Wilf’s. It is not only of their investment, but the entire value of their interest in the project. The money would never have been built by Wilf's.
Fraud is an intentional act in which an individual deceives another individual for personal gain. The Federal government and the State of New Jersey recognize multiple types of fraud charges. These charges include Real Estate Fraud, Mortgage Fraud, Health Care Fraud, Insurance Fraud, Securities Fraud and Counterfeiting Fraud to name a few.
Sentencing Consequences in Fraud Cases
Jersey City NJ criminal lawyer Joel Silberman1, who has vast experience in criminal defense law says- “Federal and State agencies take fraud offenses very seriously. The authorities generally see fraudulent activity as taking hard earned money from their communities’ taxpayers. The authorities are especially hard on those they accuse of defrauding the elderly. If you have been arrested, charged and think you will be charged with Fraud related activity you need to speak to attorney as soon as possible”. (Ref: The Law Offices of Joel Silberman, LLC, http://www.joelsilbermanlaw.com/our-practice/fraud/).
An individual involved in fraud may face consequences such as imprisonment, parole or probation, loss of certain rights, significant fines, restitution paid to victims, and more. The severity of the penalties depends on the severity of crime performed.
Defenses in fraud cases
- Innocence – No fraud occurred
- Prosecution has insufficient evidence to satisfy burden
- Constitutional Defenses
You may not be able to get out of the situation without the help of experienced criminal defense attorney. A qualified criminal defense attorney has extensive experience in handling fraud cases. They ensure that your legal rights are protected throughout the court process. They can thoroughly investigate your case to build a solid defense, interview police and witnesses, provide emotional support to your loved ones, negotiate with prosecutors to minimize or dismiss charges, or help get your penalties reduced. So, never hesitate to hire a professional criminal defense attorney.
1. Joel Silberman: Criminal Defense Attorney and Jersey City lawyer Joel Silberman focuses exclusively on Criminal Defense. Some of Joel’s most notable Adult and Juvenile cases involved charges related to Homicide, Gun Offenses, Aggravated Sexual Assault, Trafficking Narcotics, Fraud and Aggravated Assault. Call Joel at 201-273-7070 or Toll Free: 800-889-3129 or send e-mail at email@example.com. Office is located at 549 Summit Ave, Jersey City, NJ 07306. Visit http://www.joelsilbermanlaw.com/ for more information.