What to Do When Your Company Gets Charged With Corporate Fraud

 Posted on December 15, 2023 in Criminal Defense

Being accused of fraud or illegal financial dealings can shake any business to its core. Even lawful companies following accounting rules and regulations still find themselves caught in an investigation’s crosshairs or formally charged with crimes at times. There is enormous pressure to make the right moves legally while also maintaining operations, public trust, and sanity

While the situation seems immensely daunting, there are key strategic steps management can take when faced with corporate fraud allegations. Staying level-headed is vital and can be more doable alongside a Texas defense lawyer.

Do Not Panic, Assess the Situation

Getting that call or letter that your business is under investigation or being formally charged with fraud can create panic. However, taking strategic steps is vital. Carefully review the allegations against your company and the applicable laws. Gather all the facts to understand the scope of suspicion and realistic worst-case scenarios. Slow things down to make careful rather than rushed judgments.

Preserve All Relevant Records

Document preservation becomes critical once under fraud investigation. Be prepared to gather and hand over emails, financial statements, corporate filings, trade logs, and any other materials investigators request. However, you still need copies to build your own defense. Special care must be taken not to destroy anything that could seem suspicious if erased while under subpoena or probe.

Strengthen Internal Controls

Even if allegations ultimately prove unfounded, it is beneficial to take the opportunity to audit internal financial controls, compliance training, executive oversight policies, and other fraud prevention. Doing so not only boosts ethical workings but can demonstrate to authorities or jury that your company aims to operate at the highest standards. Use the scare as motivation towards best practices.

Stay on Track

Corporate fraud charges can create enormous stress and uncertainty professionally and personally. The complex legal process means resolutions take significant time. However, with strong attorneys in your corner and committing to enhance operations, companies often emerge from investigations back on solid ethical ground. Stay patient and keep perspective to try and achieve the best potential outcome.

Contact a Floresville, TX Criminal Defense Lawyer

The right legal guidance can be invaluable if your business faces fraud allegations. Contact an experienced Wilson County, TX white collar defense attorney quickly after receiving subpoenas or charges to protect your interests. Call BRCK Criminal Defense Attorneys at 830-769-1010 for a free consultation to see what the next step that you and your company should take.