Being charged with a financial crime is no laughing matter. The accusations alone can damage your reputation, strain relationships, and threaten your career. And while it’s natural to feel panicked, the steps you take (or fail to take) in the days and weeks that follow can make a huge difference in the outcome of your case.
Financial crimes, often called white-collar crimes, are taken very seriously by both state and federal authorities. Investigators build cases methodically – sometimes for months or years before you even know you’re under suspicion. By the time you’re charged, they’ve already gathered extensive evidence.
But being charged is not the same as being convicted of that crime. Yes, it can feel deflating and embarrassing, but you still have rights. With the right defense strategy, you can fight back. You just need to know what to do…and what not to do.
Here are five of the most common mistakes people make after being charged with a financial crime (and how to avoid them).
1. Talking to Investigators Without a Lawyer
When investigators show up or call you for “a few questions,” your instinct might be to cooperate fully — especially if you believe you’ve done nothing wrong. But this can be a major mistake.
Law enforcement officials, including federal agents, are trained to get information that supports their case, not yours. Even if you’re innocent, a simple misstatement or inconsistency in your answers can later be twisted to suggest guilt.
Never agree to speak with investigators or prosecutors without your attorney present. Instead, calmly tell them you’d like to cooperate but need to consult with your lawyer first. Your lawyer can handle communications, review evidence, and determine whether answering questions will help or hurt your case.
2. Assuming the Case Will “Blow Over”
Many people facing financial crime allegations make the mistake of underestimating the seriousness of the situation. You might think, “This is just a misunderstanding — it’ll go away once they see I didn’t mean any harm.”
Unfortunately, prosecutors rarely drop charges without a strong legal fight. Once an investigation turns into formal accusations, the government is already invested in proving its case. Hoping it will go away only gives them more time to build against you.
Act quickly. Hire an experienced white-collar defense attorney who can begin dissecting the evidence and controlling the narrative before it’s shaped for you. The sooner your defense begins, the better your chances of resolving the case favorably (whether through negotiation, dismissal, or trial).
3. Destroying or Hiding Evidence
When you know investigators are looking through your financial records, emails, or company data, it’s tempting to “clean things up.” You might delete emails, shred documents, or move money between accounts to look more organized or less suspicious. But just don’t.
Destroying or tampering with evidence, even unintentionally, can lead to separate criminal charges such as obstruction of justice. Prosecutors can use these actions to suggest guilt — even if the deleted information had nothing to do with the alleged crime.
Instead, preserve everything. Hand over any potentially relevant documents to your attorney and let them decide what’s important.
4. Hiring the Wrong Attorney
Not all criminal defense attorneys have experience with financial crimes. These cases are complex, data-heavy, and often involve intricate paper trails that can take months to unravel. The lawyer who handles DUIs or simple theft cases may not have the expertise needed for a white-collar defense.
You need someone who understands both the law and the financial systems involved — someone who can interpret transactions, accounting records, and regulatory frameworks while identifying weaknesses in the prosecution’s evidence.
“The reality of white-collar crime cases is that they are very fact-intensive. Investigations can take a considerable amount of time,” The Law Offices of Peter Katz mentions. “The analysis of evidence can require a substantial amount of time before charges are ever brought. This makes it crucial that your defense attorney has the skills to not only understand and be able to navigate the facts of your case, but he or she also has to understand how to build a narrative that will be able to protect your rights.”
That’s what separates a skilled white-collar defense attorney from the rest — not just their legal knowledge, but their ability to tell your story persuasively.
5. Talking About the Case Publicly
When you’re facing charges that could ruin your reputation, it’s natural to want to defend yourself to everyone that you possibly can. But any and every word you say can be used against you.
Prosecutors and investigators monitor social media posts, emails, and even text messages. An innocent comment about the case can be taken out of context and presented as an admission. Talking to coworkers or clients about the charges can also backfire, especially if your statements are shared with others or reach the wrong ears.
Keep your case private, as the only person you should discuss it with is your attorney. They can guide you on what to say, how to manage your professional image, and how to protect your confidentiality.
Adding it All Up
Financial crime charges are serious, but they don’t define you — and they don’t have to determine your future. The key is to stay calm, make informed decisions, and build the strongest possible defense with the right legal team.
Avoiding these five common mistakes can mean the difference between a damaging conviction and a more favorable outcome.
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