In January 2024, Cabral Simpson, a real estate investor from Orange, New Jersey, was sentenced in a mortgage scheme that defrauded lenders and the government of more than $1 million. Simpson, 47, received a sentence equivalent to time already served (20 months) after pleading guilty to Count One of an indictment charging him with conspiring to commit wire fraud. Contact the Lento Law Firm Criminal Defense Team if you've been charged with a white collar crime, online or call us at 888-535-3686

According to court documents, Simpson and his co-conspirators engaged in mortgage fraud by creating false bank statements and fake employee verification records for buyers of properties. They then transferred money into the buyers' bank accounts to pay the deposit for a property. Simpson and his co-conspirators submitted fraudulent mortgage loan applications, supporting documents, and closing documents on behalf of the buyers. They led lenders to issue more than $1 million in loans, which resulted in defaults and exposed the lenders and the U.S. Department of Housing and Urban Development to more than $1 million in losses. In addition to the 20-month prison term, Simpson was sentenced to two years of supervised release and ordered to pay $1.29 million in restitution.

What Is a White Collar Crime?

For the most part, white collar crimes are nonviolent crimes that are usually committed in commercial situations for the purpose of financial gain. These may include any of the following and more:

● Computer and Internet Fraud

● Credit Card Fraud

● Bankruptcy Fraud

● Identity Theft

● Insurance Fraud

● Investment Fraud

● Insider Trading

● Embezzlement

● Bribery

● Forgery

● Health Care Fraud

● Counterfeiting

● Mail Fraud

● Money Laundering

● Racketeering

● Tax Fraud

● Tax Evasion

● Wire Fraud

● Casino Crimes

White Collar Crimes Bring Stiff Penalties

White-collar crimes bring stiff penalties because, for the most part, the crimes involve causing significant financial harm to others. These penalties may include fines, imprisonment, supervised release, forfeitures, home detention, paying the cost of prosecution, restitution, home detention, and community confinement. When a white-collar crime inflicted financial damage to more than one victim, Federal Sentencing Guidelines suggest longer prison sentences.

White Collar Crimes Need an Aggressive Defense

If you or a loved one has been accused of committing a white-collar crime, you will likely face severe penalties if convicted, including the possibility of a lengthy prison sentence. Don't leave the outcome of your case to chance. An experienced white-collar criminal defense attorney will aggressively defend the charges brought against you, using defense strategies such as entrapment, illegal search, lack of intent, or coercion.

The Lento Law Firm Criminal Defense Team understands what it takes to defend white-collar crimes. The Lento Law Firm brings skill, experience, and an unwavering commitment to developing the strongest possible defense against the charges brought against you. Being charged with a white-collar crime is serious. Contact the Lento Law Firm today to learn how we can help, or call us at 888-535-3686.