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“No knowledge” defenses to security fraud in Florida

Mar 3, 2018 | Fraud |

Security fraud is a simple crime, but the regulations and penalties can be extremely complex. It is important, therefore, to try and grasp all aspects if you have found yourself being accused of committing such a crime.

In Florida, security fraud is taken very seriously. It is illegal for any person to operate a business transaction or practice that rests upon the deceit or fraudulent intention of another person. Similarly, it is illegal to collect money from a person that has been acquired through deception.

What are the penalties of a security fraud conviction in Florida?

If you are found guilty of engaging in security fraud in Florida, you will be subject to imprisonment for a maximum of five years, and face a maximum fine of $5,000. Being punished with both penalties is also possible.

More serious security fraud charges might include fraud generating values of over $50,000 or committing fraud on five or more people. These acts will be punished more severely. You may be subject to up to 30 years in prison, or a $10,000 fine.

What are the best defenses to security fraud?

If you are the owner of a company or scheme, it can be possible to plead guilty to the crime in question, while putting forward a no knowledge defense.

An example of this could be that the individuals in question violated a security fraud regulation. Once they are accused of this, they may admit that they did indeed violate that regulation. However, they could defend themselves by saying that they did not have any knowledge that the regulation they violated even existed. In other words, they did not know that they were doing anything wrong.

This defense, depending on the specific circumstances, can help the defendant to avoid a prison sentence. However, there must be sufficient proof that the defendant did not commit a willful violation.

If you have been accused of security fraud, it is vital that you understand the specific regulations that you are being accused of having violated.

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