What do former Speaker of the House and FIFA brass have in common? Before
this week very little. Now both stand accused of serious
white collar offenses that could put them in federal prison for many years.
Dennis Hastert was indicted by a federal grand jury in Chicago for
bank fraud and lying to federal agents. Federal law requires that cash deposits or
withdrawals over $10,000 be reported to the IRS. This regulation was created
under the guise of the Patriot Act and to thwart terrorism. And while
the former Congressman is no terrorist, he allegedly committed a white
collar crime by structuring transactions – that is, making multiple
withdrawals below $10,000 in order to evade bank reporting requirements.
To make matters worse, Hastert committed another white collar crime when
he lied to federal agents who were investigating him after the large amounts
of his withdrawals raised red flags. Hastert told agents that he was simply
keeping the cash. Turns out that he was getting extorted to make payment
to an individual who threatened to make Hastert’s past misconduct
public. While extortion is, in and of itself a white collar crime, that
individual likely cooperated with the government to get the bigger fish.
Also this week, Swiss officials executed a number of warrants at FIFA’s
offices in Zurich. This was done in conjunction with indictments brought
in federal court in New York charging various FIFA officials with white
collar crimes such as bribery and
money laundering. The indictment alleges that large sums of money were paid under the table
and through offshore accounts in order to gain preference for World Cup venue.
While Hastert may not be a soccer fan, and FIFA officials may not even
know who Hastert is, they share the common bond of being charged with
white collar crimes.
Criminal defense attorneys who are highly experienced in white collar defense will undoubtedly represent
them in cases that will likely take years to play out to their conclusion.
Contact our Phoenix criminal defense lawyer Jason D. Lamm for more information about white collar crimes and defense