White-collar crime investigations often involve high-stakes financial transactions, making asset seizure a real concern. What are the limits of the authorities’ power to seize assets? Can they take away your life savings or business assets without a thorough investigation?
Law enforcement can take your assets, but with important limitations
Police and prosecutors can freeze or seize assets they believe are connected to criminal activity. This process, known as asset forfeiture, aims to prevent suspects from hiding or disposing of ill-gotten gains.
Law enforcement can seize assets under the following circumstances:
- Probable cause: Police must demonstrate probable cause that connects the assets to criminal activity.
- Search warrant: Law enforcement can seize assets only after a judge issues a search warrant based on probable cause.
- Asset connection: Prosecutors must prove a connection between the assets and the alleged criminal activity.
During a white-collar crime probe, investigators might freeze your bank accounts, seize business records or take possession of valuable property. They may claim these actions are necessary to preserve evidence or prevent the dissipation of ill-gotten gains. These moves can cripple your ability to defend yourself or run your business.
You have legal avenues to defend your rights and freedom
It is important to remember that being under investigation does not strip you of your rights. You can challenge asset seizures, and in many cases, you may be able to regain control of your property. Still, the legal system is intricate, and missteps can be costly.
When contending with white-collar crime charges, it is best to have an experienced criminal defense attorney on your corner. An attorney can help you explore the most effective defenses to counter the legal challenges you are facing. Your financial future and freedom may depend on it.
