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Broker-dealers operate in a challenging regulatory environment. The vast majority of DOJ securities fraud prosecutions begin as SEC examinations that uncover violations.
Common Civil Violations That Become Criminal Referrals
- Unsuitable Recommendations: Can be deemed willful misconduct
- Excessive Markups or Commissions: Systematic overcharging becomes wire fraud
- Failure to Supervise: Reckless or knowing failures create criminal liability
- Obstruction of Examinations: Providing false documents or backdating reviews is obstruction of justice
How Criminal Charges Are Triggered
The line is crossed when intent or deception is uncovered. Common triggers include false statements during examinations, altered or destroyed records, pattern and practice of violations, and harm to investors.
Sentencing Trends
The average federal sentence for securities fraud is between 87 and 109 months (7-9 years). Over 80% of those who obstruct SEC examinations face additional criminal charges.
Key Risks
- Personal liability for executives and compliance officers
- Asset forfeiture of all fraud proceeds
- Automatic FINRA bars ending careers
- Restitution orders that cannot be discharged in bankruptcy
How to Protect Your Firm
- Comprehensive compliance programs actively enforced
- Regular training for all employees
- Periodic internal audits
- Examination preparedness protocols
- Legal representation at the first sign of examination
Reduction in pretrial jail population since NJ bail reform implementation.
Source: NJ Judiciary Annual ReportApproval rate for properly filed expungement petitions in NJ.
Source: NJ Courts Statistical ReportCommon Mistakes to Avoid
Actually Stay Silent
Most people know they have the right to remain silent but still talk to police. Anything you say can and will be used against you. Politely decline to answer questions until your attorney is present.
Bail Conditions Are Enforceable
Violating bail conditions, even minor ones, can result in immediate re-arrest and make it much harder to obtain bail again. Follow every condition to the letter.
Proven Track Record
Recent Case Results
*Results may vary depending on your particular facts and legal circumstances.
SEE ALL CASE RESULTSWhat Our Clients Say
"Facing an SEC investigation was terrifying. The Spodek team negotiated a resolution that preserved my career and my reputation. Their knowledge of securities law is unmatched."— David A., SEC Defense Client MORE REVIEWS
Lead Attorney & Founder
Todd Spodek
Featured on Netflix's "Inventing Anna," Todd Spodek brings decades of high-stakes criminal defense experience to every case.
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Frequently Asked Questions
New Jersey reformed its bail system in 2017. Instead of a cash-based system, judges now use a Public Safety Assessment (PSA) to determine whether a defendant should be released pretrial. Most defendants are released with conditions, while those deemed high-risk may be detained. An experienced attorney can argue for favorable release conditions at your detention hearing.
No. You have the constitutional right to remain silent and to have an attorney present during questioning. Anything you say to police can be used against you in court. Politely invoke your rights by saying "I want to speak with my attorney before answering any questions." This cannot be held against you.
Attorney fees vary based on the complexity of the case, the charges involved, and whether the case goes to trial. At Spodek Law Group, we offer transparent pricing and flexible payment plans. We provide a free initial consultation to discuss your case and give you an honest assessment of costs. Investing in quality representation often saves far more in the long run than choosing the cheapest option.
An arraignment is your first court appearance after being charged with a crime. The judge will read the charges against you, and you'll enter a plea (usually not guilty at this stage). The judge will also set bail or release conditions. Having an attorney at your arraignment is critical, as they can advocate for favorable bail terms and begin building your defense strategy from day one.
Why Clients Choose Spodek Law Group
45 seconds that explain our difference
