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Fraud charges dropped against Texas attorney general

When it comes to accusations around "white collar crime," the charges can be varied and complicated. If a charge is brought against a person for financial crimes, such as embezzlement or fraud, these charges carry serious weight, in addition to the potential sentencing, if found guilty. Shockingly, fraud charges were recently brought against the Texas attorney general on basis of securities fraud. But, one of these charges was recently dropped in federal court.

The basis of the charges against the attorney general revolved around securities fraud. The federal charge alleged that fraud was committed when the Texas Attorney General misled investors in a high-tech Texas startup by not disclosing the company was paying him.

He is also facing similar charges of fraud in criminal court, but the dropping of the federal case is a great start to eliminating those charges as well. The U.S. Securities and Exchange Commission brought the federal investigation.

Depending on the allegations brought against an individual, charges could breach criminal, as well as federal court. The main threshold between the two is if fiscal activity occurred between or over Texas state lines.

Since many financial decisions happen outside of state boundaries, it is not unusual to see both criminal and federal charges occurring, such as in the case of the attorney general. These allegations can be very serious and damaging, if proven in court.

The potential sentencing for fraud can include monetary fines, jail time and the removal of important titles, or the ability to work in certain industries. It could mean the end of a career, especially if one makes a living in the financial sector.

Everyone is granted their day in court. This is where both sides have an opportunity to share their side of the story. If accused of a crime, life fraud, it does not mean one will be found guilty of that crime.

Source: KOAA, "Judge drops securities fraud case against Texas attorney general," March 2, 2017

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