A person’s role and status in a community could be significantly harmed when criminal charges are faced. The allegations alone could create hardships when it comes to the accused’s personal and professional reputation. This is especially true when the criminal allegations deal with financial crimes of fraud, deceit and theft. Thus, in order to limit damages that might be irreversible, it is imperative that those accused of such crimes take timely action to assert an aggressive criminal defense.
Facing theft and fraud charges
Based on recent reports, a former Houston pastor and his wife were indicted on felony charges. The couple is accused of securities fraud and aggravated theft based on the SEC alleging violations of the anti-fraud provisions of the Securities Act. The charges stems from the couples ownership and operation of Teshuater, which is an alkaline bottled water company, and Teshua Business Group.
It was purported that the couple sold bogus stock certificates for Teshuater. Furthermore, the former pastor attempted to raise $20 million by supposedly selling a valueless cryptocurrency referred to as TeshuaCoin. Finally, it was alleged that the former pastor raised funds through a non-existent biotcoin by promising exorbitant returns for investors then using the funds to make speculative options trades.
Creating a defense
Reports indicated that the couple used Facebook live to recruit investors. These videos purported to the amounts that the shares are worth; however, prosecutors stated that the stock shares they sold are worthless, asserting that they aren’t worth the paper they are printed on. Currently, the district attorney’s office is waiting for the couple to turn themselves in. If convicted of these charges, the penalties could range from probation to 99 year in prison.
Because the criminal consequences for these charges could be harsh and extensive, it is important for those facing charges for theft and fraud to fully understand their defense options. This not only helps the accused reduce and even possibly dismiss the charges against them, but a defense could also aid in reducing the damage to one’s personal and professional life.