Federal Fraud Investigation Ends Without Prosecution in RI
Charge:
Investigation of Embezzlement, Bank Fraud, and Wire Fraud in United States District Court for the District of Rhode Island, Providence, Rhode Island, Providence County.
Case Overview:
The U.S. Attorney’s Office for the District of Rhode Island investigated the corporate officer and certain employees of a former, Rhode Island-based company. The company came on the radar of federal authorities after it was discovered that the bank was artificially inflating its assets and account receivables in order to secure short-term debt from local banks. The company’s controller was on the government’s radar. He received a target letter informing him he was under federal investigation. He immediately retained Federal Criminal Defense Lawyer, John L. Calcagni III, to represent him in the course of this investigation.
Case Result: No Prosecution.
Attorney Calcagni sent a notice of representation letter to federal prosecutors and also accompanied the man to meetings with prosecutors and law enforcement agents whereby he answered questions and/or provided information about his former employment. Over time, federal authorities realized the man had little knowledge and/or involvement in criminal wrongdoing, and certainly did not profit in any way from the fraud. As a result, federal authorities agreed not to pursue criminal prosecution against the man.