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Several years of hard times for professionals like escrow agents, real estate brokers, investment advisors and attorneys can lead to bad judgment when it comes to escrow accounts. No one really intends to steal or embezzle from an escrow account but the simple fact is that sometimes licensed professionals “borrow” from an escrow accounts with every intention or returning the money. The reality is that good intentions fall by the wayside in hard economic times. We are in February of 2015 and we have now had bad economic conditions for several years followed by better times, however sometimes people can not financially recover leading to desperate measures.
As a Sarasota criminal defense attorney representing professions like attorneys, bankers, stock brokers and insurance agents I hear the other side of the story and understand the reasons why a lapse in judgment may lead to a criminal charge. For an attorney, borrowing from a trust account can lead to disbarment and even worse yet, jail. Over the next few years you will see less and less prosecutions for mortgage fraud as the Statute of Limitations takes effect and bars prosecution. What you will see is more and more arrests and prosecutions of professionals for escrow and trust violations. You can also expect audits and probes in the dealings of charities and charitable agencies and their officers.
As a former Federal Agent and former Federal Prosecutor and thirty year veteran criminal defense lawyer I have represented those accused of white collar crime in both Federal Court in Florida. Escrow transgressions can happen and in some cases restitution may be an alternative to federal prison or years in the Florida DOC.
If you receive a notice that your escrow in being audited and you have a genuine problem, call today for a free consultation. If you get a Grand Jury subpoena or a visit from and IRS agent or FBI agent, exercise your right to remain to remain silent and your right to counsel and call today 941 366 3506