Criminal Defense Lawyers

Commodities Fraud Lawyers

As it becomes harder and harder for people to secure their financial futures, they often turn to various types of investments as a way to ensure they will have an income for many years to come. This is especially true when it comes to commodities, where traders as well as banks and brokers can find themselves under investigation for commodities fraud. While investors always trust their brokers or banks to provide them with accurate and reliable information, the truth is some of these financial firms and advisers choose instead to make more money for themselves at the expense of unsuspecting investors and clients. If you find yourself being charged with commodities fraud, you will need the services of an attorney who has the skills and experience needed to help you obtain the best possible results.

Defining Commodities Fraud

According to the FBI, commodities fraud is defined as the sale or purported sale of commodities through illegal means. A white-collar crime that is taken very seriously by the courts, it can involve a number of serious penalties and lead to decade after decade spent in prison. However, even if you have been charged with commodities fraud, all is not lost. While federal authorities may lead defendants to believe a conviction is a foregone conclusion, it is anything but that. A smart and knowledgeable commodities fraud lawyer will know this, and employ a number of aspects in their defense strategy to help their client get acquitted of all charges.

A Complex and Challenging Case

If there is one thing that will always play in the favor of a defendant charged with commodities fraud, it’s the fact that these cases are some of the most complex a court will ever hear. Since most judges and juries have little if any knowledge of financial markets, prosecutors often have a difficult time conveying the specifics of the case in an easy-to-understand manner. Since many transactions have often taken place in these cases, prosecutors may not be able to make it clear what the trader’s intent was when carrying out their duties. Because of the complexities involved in these cases, commodities fraud lawyers can often poke one hole after another in a prosecutor’s case and place large amounts of doubt in the minds of a judge and jury. To ensure this happens in your case, contact a lawyer who has the skills and abilities needed to sway the court in your favor.

Commodities Fraud Penalties

As with many other white-collar crimes, the penalties associated with commodities fraud can be unforgiving. Prison sentences can range from 10 years up to 25 years or even more, and fines can be well in excess of $1 million. And to make matters worse, defendants in these cases may also face other charges as well including mail fraud, wire fraud, and embezzlement. When facing these charges, it’s extremely important to work with a lawyer who has a track record of success in these cases. Otherwise, you may find yourself facing serious consequences for crimes you did not commit, yet having little if any recourse other than to accept the court’s verdict. But by making sure you have the expertise of a lawyer who is committed to fighting for your rights, your chances of walking away with an acquittal increase substantially.

Spodek Law Group, P.C. - NYC Criminal Attorneys

5.0

Based on 745 reviews

George Fernandez

14:16 30 Apr 24

Excellent 10 out of 10, Helped resolve my case. Jeremy explained everything and made everything easy to understand.

Raj

21:33 24 Apr 24

If you are looking for a lawyer that listens, is aggressive where needed, and holds his word above all else, Todd is the best pick. I had hired multiple attorneys prior to hiring the Spodek Group for a white collar case. The first thing that stood out to me was the cost, as anyone going through the process and dealing with the system, money was tight at that time - especially after hiring and firing multiple lawyers. The cost was not as high as others which was definitely a plus. Todd's intake process was also unlike other attorneys. He took the time to actually listen. He cared. He was trying to put himself in my shoes while I was explaining the situation to him and he really took the time to understand the whole situation. Other lawyers will give you 15 mins and send you a retainer agreement. Not Todd, I think he spent almost two hours with me as I was explaining everything.Not only was he great during the onboarding process, he was supportive and very informative through the entire plea process and eventually sentencing. After hiring him, I asked if I should hire a prison consultant, he told me to save my money as he would do everything they would. He was right and held up to his word. Later on I would hear from others that went with the prison consultants that they were a waste of money - I am glad I listened to Todd!When it came time for sentencing, two days prior to sentencing, the prosecutor tried increasing my proposed prison time by almost double - apparently a normal move. Todd and his team worked with me non-stop through the weekend prior to sentencing to ensure that I was not given additional prison time. Again, he took the time to listen and came up with a strategy to explain the case with great detail.Unfortunately, I did plead guilty as that was my best option. Todd and his whole team wrote up nearly 300 pages of a summary of what happened and why I should not be given prison time. If I breakdown the amount I spent with Todd versus the amount of work that I saw being done, I am shocked I was not charged four times as much. The other benefit was, a lot of criminal defense lawyers were just a single attorney with a paralegal or two. Todd had a team of people that I dealt with (5-7 people that I interacted with), but he was ALWAYS accessible. It would never take him more than an hour to reply unless he was in court.I was sentenced to prison and I was emotionally distraught. Todd and his team did whatever they could even after sentencing to make sure I was alright. He personally stayed in touch with my family to ensure I was doing alright and offered support to them. Most lawyers would consider the job complete at sentencing, not Todd.After prison, Todd still spent time with me to make sure I was on the right track and avoiding any potential risks in the future. He has also been giving advice on how to navigate probation etc and has not been looking at the clock for billing.Although I wish I had never been arrested in the first place, I am glad I had Todd and his team in my corner. Without them I likely would have had to spend a lot more time in prison than I did.Thank you, Todd, and the entire Spodek Law team, for helping turn what was a nightmare into a manageable situation!

Yelva Saint-Preux

19:26 19 Apr 24

I am immensely grateful to the entire team at Spodek Law Group for their unwavering dedication and exceptional expertise throughout my case. From our initial consultation to the final resolution, their professionalism and tireless advocacy made all the difference. Their strategic approach and attention to detail instilled confidence in me every step of the way.Thanks to their hard work and commitment, we achieved a truly favorable outcome that exceeded my expectations. Not only did they navigate the complexities of my case with precision, but they also provided invaluable support and guidance during what was undoubtedly a challenging time. I cannot recommend Spodek Law Group highly enough, especially attorneys Todd Spodek and Claire Banks; they are beacons of excellence in the legal profession.YSP.

Katherine Sun

18:08 18 Apr 24

my lawyer is Alex Zhik. Efficient, patient and professional

Nun ya

17:48 18 Apr 24

Todd, Ralph and Alex are amazing. Helped my husband get from a double digit number with multiple charges to a single digit, by the time I blink he will be out. They very professional and help with all your needs. They dealt with my anxiety and worry very well and they understand that your family member needs to get home as soon as possible.

Keisha Parris

20:45 15 Mar 24

Believe every single review here about Alex Z!! From our initial consultation, it was evident that Alex possessed a profound understanding of criminal law and a fierce dedication to his clients rights. Throughout the entirety of my case, Alex exhibited unparalleled professionalism and unwavering commitment. What sets Alex apart is not only his legal expertise but also his genuine compassion for his clients. He took the time to thoroughly explain my case, alleviating any concerns I had along the way. His exact words were “I’m not worried about it”. His unwavering support and guidance were invaluable throughout the entire process. I am immensely grateful for Alex's exceptional legal representation and wholeheartedly recommend his services to anyone in need of a skilled criminal defense attorney. Alex Z is not just a lawyer; he is a beacon of hope for those navigating the complexities of the legal system. If you find yourself in need of a dedicated and competent legal advocate, look no further than Alex Z.

Taïko Beauty

16:26 15 Mar 24

I don’t know where to start, I can write a novel about this firm, but one thing I will say is that having my best interest was their main priority since the beginning of my case which was back in Winter 2019. Miss Claire Banks, one of the best Attorneys in the firm represented me very well and was very professional, respectful, and truthful. Not once did she leave me in the dark, in fact she presented all options and routes that could possibly be considered for my case and she reinsured me that no matter what I decided to do, her and the team will have my back and that’s exactly what happened. Not only will I be liberated from this case, also, I will enjoy my freedom and continue to be a mother to my first born son and will have no restrictions with accomplishing my goals in life. Now that’s what I call victory!! I thank the Lord, My mother, Claire, and the Spodek team for standing by me and fighting with me. Words can’t describe how grateful I am to have the opportunity to work with this team. I’m very satisfied, very pleased with their performance, their hard work, and their diligence.Thank you team!

K Mar

01:37 25 Jan 24

I recently had Spodek Law Group represent me for a legal matter in NYC and I am thoroughly impressed with their services.Alex Zhik secured the best possible outcome for my case.It was a seamless journey from the initial consultation to the resolution of my legal matter. From the moment I spoke to Todd about my case, his enthusiasm to help was evident, setting a positive tone for the entire experience. The efficiency and professionalism displayed by the team is commendable.A particularly noteworthy aspect of their service is their user-friendly portal to upload your documents/evidence. This not only simplified the process, but showcases their commitment to streamline the client experience.Lastly, in an industry where legal fees can often be a concern, I found their pricing to be very reasonable, making needing legal assistance feel accessible and stress-free.I am grateful for their support and wouldn't hesitate to turn to them again in the future.

Get the Legal Help You Need

If you are charged with commodities fraud, there is little doubt you will be facing numerous criminal and civil consequences. Under these circumstances, you will need the service driven lawyer you can find to take your case. Whether your lawyer will be working with you to plan a defense strategy, negotiate a plea deal, or resolve the case in a manner that will benefit all parties, it’s important to remember that the complexities of these cases will almost always work in your favor. If you are facing a multi-count indictment, your lawyer will use this to plan a defense strategy that is aimed at putting doubt and confusion in the minds of those deciding your fate. Instead of feeling as if a conviction is inevitable, take advantage of a free consultation with an experienced lawyer and get the legal help you need to win your case.

NYC Commodity Pool Fraud Lawyers

Commodity trading has a long history in United States financial markets. From the earliest days of the republic, commodities ranging from wheat to pork bellies have been sold through small, informal markets. By the end of the 19th century, commodities trading had become a much larger business, institutionalized through markets like the Chicago Board of Trade.

Commodities trading can frequently be divided into two lines of activity: spot sales, entitling the owner to immediate delivery of the commodity in question, and futures contracts, entitling the owner to take delivery of a commodity at a specified date.

While commodity trading has existed in the Untied States for centuries, the regulatory approach to the practice has changed considerably over time. In 1936, Congress and President Franklin Roosevelt established the Commodity Exchange Authority to address what was perceived as rampant fraud and abuse in the commodities markets.

In 1974, Congress and President Gerald Ford replaced that agency with the Commodity Futures Trading Commission, tasking the replacement entity to serve as the lead regulator of commodities markets. In 2010, Congress and President Barack Obama further extended the powers of the CFTC through the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Commodities trading is frequently done on the basis of individual accounts, which refers to the money that an individual or entity puts forward to place trades in the commodities or commodities futures markets. However, a recent financial innovation has been increased trading in the form of commodities pools. Regulation of this form of investment has been strict, primarily because the government is intent upon protecting the assets of people who may be ill-prepared to invest and speculate on the commodity futures markets.

A commodity pool refers to a group of investors who combine their money together to invest in commodities or commodity futures. This form of commodities trading is perfectly legal when it follows the regulations that are promulgated by the Commodity Futures Trading Commission. In recent years, however, the federal government has investigated and aggressively prosecuted multiple cases of fraud in the formulation and execution of commodity pools.

Commodity pool fraud can occur in a number of ways, although three types are the most common. In the majority of cases, investors in a commodity pool are defrauded through misrepresentation. This means that the commodity pool is marketed through a misleading prospectus or other false or materially misleading statements by the organizer. For instance – in a classic case of commodity pool fraud – an organizer may promise a low rate of risk or a high rate of return while knowing that such claims are false.

Another example of commodity pool fraud is the misappropriation of commodity pool funds. In these cases, the organizer of a commodity pool deposits money intended for investment in commodities into unrelated – and typically personal – accounts. Because such misappropriation typically causes losses for investors, it is another serious federal offense.

Finally, failing to follow the CFTC’s regulations regarding registration – which must occur after a certain number of investors join or a certain amount of money is invested in a pool – is a federal offense.

Penalties for commodity pool fraud charges are often severe. Under federal law, the CFTC is empowered to bring civil actions to recover money from commodity pools. In some cases, pool organizers and managers have been responsible for millions of dollars in restitution payments.

Worse, the criminal penalties for commodity pool fraud are harsh. If found guilty of a single county of commodity pool fraud, an individual can face up to 10 years imprisonment per count. Since many indictments include multiple counts, such a sentence can quickly become an effective sentence of life imprisonment.

If you, your associates, or a loved one are being investigated or have been charged with commodity pool fraud, it is imperative that you contact an experienced criminal defense attorney immediately to safeguard your legal rights.

A competent, qualified defense lawyer can ensure that your legal rights are protected during the course of the investigation. If you are criminally charged in a commodity pool fraud matter, a criminal defense attorney can work with prosecutors to reach a favorable plea agreement or – if necessary – present a strong defense before a judge and jury.