If you are charged with a federal crime, it is a serious matter. The government only moves forward with federal criminal charges if it is certain in its position. For this reason, those indicted for federal crimes need to ensure that their rights, interests and liberties are protected.

A local story discusses a man that has recently admitted to a federal crime. A federal court has sentenced a North Carolina resident to 10 years in prison for a Ponzi scheme. According to reports, the man conned neighbors and friends for profit. The suspect pled guilty to charges in September, which accused him of defrauding investors for approximately three years.

The indictment explains that the man told investors he was funding contracts. This practice helps suppliers get immediately paid for an order and frees up cash for operations of retailers, who reimburse the money later. However, the man actually used the money to pay interest and principle to other investors. He also used the money to take trips, fund construction on his house and pay debt. The man faces three years of supervised release after serving his sentence.

Handling federal criminal charges is a complex and intimidating task. For his own reasons, the man in this story chose to admit to the offense. Nevertheless, federal crime convictions come with serious consequences. For this reason, if you have been accused of a federal crime, you may want to speak to an attorney about your legal options. You have rights that deserve to be protected.

Source: The News and Observer, "NC man sentenced for duping neighbors, friends in Ponzi scheme," Jan. 18, 2012