Are there any special criminal penalties for securities fraud?
Yes, there are special criminal penalties for securities fraud in Florida. These penalties can vary greatly depending on the severity and impact of the fraud committed. In some cases, the penalties may include jail time, fines, and restitution payments. Under Florida law, securities fraud is a felony offense that can result in up to fifteen years in prison if a person knowingly and willfully defrauds another. Additionally, a person may be held liable for damages suffered by the victim in an amount up to triple the amount of the gain or loss caused from the fraud. Securities fraud can occur in many different forms in Florida, such as insider trading, stock manipulation, and even using false statements to influence the market. If a person is convicted of any of these charges, the court may also impose a fine of up to $250,000 and order the defendant to pay restitution to the victims involved. In some cases, the convicted person may also be required to pay a civil penalty of up to $1 million to the Securities and Exchange Commission. This type of penalty is more commonly imposed for involvement in cases of large-scale fraud schemes, such as Ponzi scams and foreign investment frauds. All of these criminal penalties can be severe and should demonstrate how important it is to abide by the laws for securities fraud. It is important to contact a criminal defense lawyer if you are being charged with any type of securities fraud in Florida.
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