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Company executives are not the only individuals facing liability in federal securities fraud investigations. Members of corporate boards of directors can also face legal consequences, including potential civil and criminal prosecution.
Circumstances That Trigger Enforcement Action
- Insider Trading: The SEC prioritizes insider trading enforcement against board members.
- Misrepresentation of Material Information: Liability for misrepresenting material information in public filings.
- Failure to Exercise Due Diligence: Directors have an affirmative duty to verify company disclosures.
- Filing False Reports with the SEC: Liability across all filing requirements.
- Corporate Corruption: Civil SEC enforcement can trigger criminal DOJ prosecution.
- Brokerage Fraud: Criminal, civil, or administrative enforcement depending on circumstances.
- Pump and Dump Schemes: A major SEC enforcement priority.
- Misrepresentations to Federal Agents: Up to five years federal imprisonment under 18 U.S.C. Section 1001.
Potential Penalties
- Administrative Penalties: Fines, restitution, and trading prohibitions.
- Civil Penalties: Fines and injunctions.
- Criminal Penalties: Fines and federal prison time for both misdemeanor and felony prosecutions.
What to Do
Engage defense counsel promptly to intervene in SEC investigations, identify relevant allegations, assess specific risks, and build comprehensive defense strategies.
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
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