What if I'm charged with securities fraud?
Minnesota criminal defense attorney Joe Friedberg discusses what might happen after a person is charged with securities fraud.
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In all likelihood, if you’re gonna be charged with securities fraud, the first people that contact you are gonna be from the Securities and Exchange Commission, and they’re gonna want answers to questions. So you need to see a lawyer to make the decision about whether or not that lawyer thinks that you’re headed down the trail towards being indicted in a criminal case or whether or not the allegations are such that it’ll remain a civil case with the SEC. ‘Cause if it’s going to remain a civil case, in all likelihood you should answer all the questions you’re asked as honestly as you can answer them. If the lawyer makes the decision that “this looks like a criminal case to me,” it’s a judgment question, but in that case, then you might have to tell the SEC that you’re not gonna answer any of their questions and avail yourself of the Fifth Amendment.