A criminal investigation and your financial assets

A criminal investigation and your financial assets

On Behalf of | Mar 29, 2022 | White Collar Crimes |

Allegations of white-collar crime can suspend your career and leave you uncertain about the future. You may feel concerned about the security of your financial assets in light of the evidence against you.

When you have an idea of what could happen, you can start strategizing ways to minimize the impact of your circumstances on your future. Handling your situation carefully can help you prevent further damage to your reputation and career.

Watching your assets

Depending on your actions and the charges against you, authorities may seize your assets. They may require forfeiture to prevent you from accessing, using or liquidating them. If you have illegally acquired assets, forfeiture is often an inevitable outcome. Authorities may also feel that you are at a lower risk of fleeing if they freeze your assets.

There is no absolute way of gauging what will happen to your assets. Preparing for the likely outcome that you will need to forfeit some of your financial investments can help you proactively plan. Officials will assess the charges against you, the evidence of your case and whether or not others rely on your income when determining an outcome.

Planning your future

If the courts convict you of white-collar crime, you may face substantial financial repercussions. The FBI reports that victims of white-collar crime may include customers, investors and shareholders. Officials may recommend the liquidation of some or all of your assets to go toward repaying victims of your crimes. If this happens, the best thing you can do is to immediately begin saving your money. Revise your budget and determine how you can optimize the value of your remaining assets.

Having a strong defense may give you an upper hand in your effort to retain your assets. Adhering to your attorney’s legal guidance may help you protect your livelihood despite the unprecedented circumstances.