Thomas & Paulk Articles Some Facts About Accounting Fraud

Some Facts About Accounting Fraud

By Thomas & Paulk  Aug. 9, 2010 10:21a

Accounting fraud is considered a white collar crime and penalties can be quite severe for this in the state of Florida. Normally what occurs with accounting fraud is that an accountant or the company's accounting department is being dishonest and is involved in embezzling funds, inaccurately reporting financial figures or not disclosing financial records. Reporting inaccurate figures to the public or the government can also be considered fraud. Accounting fraud can be committed by both small and large businesses alike. Some of the more common reasons for people committing this crime are as follows:

  • It can be used to cover up profits as well as losses
  • Accounting fraud can be used to mask an attempted investment fraud
  • Concealing profit increases from shareholders
  • Abusing business expenses for personal gain (mixing corporate and personal expenses involving travel expenses, entertainment, cash advances which are undisclosed, and so on)
  • Combining personal money into a business loan for a company resulting in fraud

What to Do If You Have Been Accused of Accounting Fraud

Accounting fraud crimes are classified as serious white collar crimes and are normally investigated by federal agencies like the FBI, IRS or SEC or the State Attorney General's Office. Anyone accused of accounting fraud would be wise to consult with an experienced white collar crime attorney immediately. At the Law Offices of Thomas & Paulk, we can provide you with effective, aggressive and reliable representation to help you combat any charges against you. We serve clients in the Tampa and surrounding areas and will do everything in our power to help you avoid conviction so you can return to normal life. A felony conviction can have disastrous consequences on one's life and should be avoided at all costs.

Contact a White Collar Crime Lawyer at our office to set up a free consultation and we will review your case in detail.

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