Amstrong – Financial Fraud

Mr. McAmstrong is found guilty of financial fraud and scams, he faces substantial legal consequences under U.S. federal law. Financial fraud is a serious offense that encompasses crimes such as securities fraud, wire fraud, and mail fraud, each punishable under distinct statutes with severe penalties.

Under Title 18, U.S. Code, Section 1343 (Wire Fraud): A conviction can lead to a sentence of up to 20 years in federal prison and fines reaching $250,000 per offense. In cases involving financial institutions or during times of declared disaster, penalties increase to 30 years of imprisonment and up to $1 million in fines.

Under the Securities Exchange Act of 1934, Section 10(b): Engaging in securities fraud may subject Mr. McAmstrong to civil and criminal penalties, including up to 25 years in prison, fines, and restitution for damages caused to victims.

Beyond federal penalties, he may face asset forfeiture, civil suits from victims, and permanent bans on professional licenses, depending on the scale of the fraud. The combined financial repercussions, extended prison sentences, and enduring criminal record underscore the gravity of financial fraud penalties, reinforcing accountability and protecting the public.