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Fraudulent Conveyance Lawyer

West Covina White Collar Crimes Attorney – (626) 827-7222

Far in the past, people could be sent to jail just for being in debt. Today, the laws have changed to no longer make mismanagement of your finances a crime. However, it is still a crime in California to intentionally try to hide, move, or sell property to avoid repaying debts, which is known as fraudulent conveyance.

If you have been accused of the white collar crime of fraudulent conveyance, then you need to act quickly and take the situation seriously. Depending on the circumstances, you could be charged with a misdemeanor or a felony capable of putting you behind bars and exacting steep fines. Contact Coimbra Law Firm and our fraudulent conveyance lawyer in West Covina to get to work on a viable defense that explains the situation and shields you from unjust prosecution.

Defining Fraudulent Conveyance in Legal Terms

California Penal Code 154 PC is the legal statute that describes “fraudulent conveyance by a debtor.” In summary, the crime describes the intentional transfer of property to avoid repaying a debt owed to someone else. Understanding the specifics of the criminal statute in more detail can help you and your criminal defense lawyer defend against the accusations.

The three key elements of criminal fraudulent conveyance are:

  1. The accused owes money to a creditor due to a preexisting loan, usually created in an official capacity, such as a bank loan.
  2. The accused debtor sells or gifts property that could have been used to repay the debt to another third party; or, the accused debtor hides, conceals, or moves finances and assets from one account into another that cannot be garnished or accessed by the creditor.
  3. There is evidence to believe the accused debtor knew the transfer of property or finances would make it possible to avoid repaying a debt.

In many cases, the “evidence” of fraudulent conveyance is simply the existing of a contract that describes the loan, how it is expected to repaid, and what can be used as collateral if it is not repaid. Someone who signs such a contract is assumed to know and understand it in its entirety, which means they should know to not shift around assets if that results in escaping the debt’s collateral clause. A possible defense for your case might be arguing you did not know the full details of the contract, or that you did not know the consequences moving your assets would create. This strategy can be called a “lack of intent” defense.

Mistakes Happen But Jail Doesn’t Have To

At Coimbra Law Firm, we know that people make innocent mistakes that look like criminal behavior all the time, such as is often the case in fraudulent conveyance cases. Using our 20+ years of total legal experience and unwavering passion for upholding the rights of the accused, we are confident we are the right choice for you when seeking a West Covina criminal defense lawyer. Let us explain more about our services and your legal options today by calling (626) 827-7222 to schedule a free initial consultation. The path to a brighter future starts right here!

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