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Criminal Defense in Pyramid Schemes

In Texas, it is against the law to form a pyramid scheme. This is a type of investment fraud that is carried out over a digital medium such as an e-mail. People will create these false schemes in order to make money. They will send e-mails claiming that recipients can get a massive return on a small investment if they contribute to a business venture. Victims of pyramid schemes will put money into the proposed business plan, and will try to get others invest as well. As more people are recruited, the amount of money in the investment scheme will grow. Eventually, however, the entire scheme collapses because the money was not being invested in any solid plan. This leaves all victims with no money.

Texas law makes it illegal to create, prepare, sell, operate, advertise, or promote a pyramid scheme. Those that are convicted of involvement in a pyramid scheme will have a state jail felony on their record. Most often, this means between 180 days and two years in a state prison and a fine of up to $10,000. Most often, pyramid schemes are categorized as a white collar crime.

If you have been accused of involvement in one of these deceptive practices, then you need a Plano criminal defense attorney on your side right away. With the right attorney there to help you, you may be able to prove that you are innocent of the crime or were not aware that you were a part of a pyramid scheme. There are a variety of defenses that attorneys will use to help a person in a pyramid scheme case.

The attorney may choose to argue that the business was not set up as a pyramid promotion scheme, or that the defendant did not knowingly promote such a scheme. Also, the firm may argue that the company was selling an actual product, not just involvement in the plant itself. If you want more information about pyramid schemes or need representation in a trial because you were accused of involvement in a white collar crime, hire a lawyer at the Zendeh Del Law Firm, PLLC today!

Categories: White Collar Crimes