Fraudulent trading offences are unfortunately on the rise in the UK, with the latest data showing a year-on-year increase in reported cases. If you find yourself arrested or charged with this offence, seek help from a solicitor as early as possible to ensure your rights are protected and you receive expert advice tailored to your situation. This article answers some of the most common questions you might have, such as whether you need a solicitor for fraudulent trading, potential defences you could use, and whether you are likely to be granted bail. We will also discuss other essential steps you should take if you find yourself facing such serious charges.
Fraudulent trading is a serious offence under English law, involving the carrying on of business with the intent to defraud creditors or for any fraudulent purpose. If you are facing an allegation of fraudulent trading, you must seek the assistance of a criminal defence solicitor. Here’s why having a solicitor can be indispensable:
Dealing with charges of fraudulent trading can be incredibly stressful, but understanding the possible defences available to you can provide some much-needed clarity. Fraudulent trading, as defined under Section 993 of the Companies Act 2006, involves knowingly participating in business with the intent to defraud creditors or for any fraudulent purpose. Common defences that a criminal defence solicitor might explore on your behalf if you are facing such charges include:
When facing charges of fraudulent trading, one of the first things you might worry about is whether you will be granted bail. Bail is essentially a temporary release from custody while your case progresses through the court system. It allows you to continue with your daily life until your trial date.
Whether or not you will get bail depends on several factors that the court will consider, such as the severity of the fraudulent trading allegations. If the fraudulent activities are substantial and involve large sums of money, the court might view this more seriously, making it harder to obtain bail. However, if the allegations are less severe, your chances of getting bail are potentially higher.
Similarly, your personal circumstances and history will be scrutinised. This includes your criminal record, if you have one, as well as your behaviour in previous interactions with the legal system. If you have a history of attending court dates and complying with legal requirements, the court may be more inclined to grant you bail. Conversely, if you have a history of skipping bail or failing to appear in court, securing bail this time could be much more challenging.
Whether you will have to go to court largely depends on the specifics of your case and how it progresses through the legal system. Fraudulent trading is considered a serious offence under British law, typically involving deliberate deceit to make personal or business gains at the expense of others.
There are two main avenues through which your case might be handled. The first is an out-of-court settlement, although this is less common for serious fraudulent trading cases. In these scenarios, negotiations might result in a resolution without the need for a formal court appearance. However, the second, and more likely, scenario involves going to court, especially if the case involves significant sums of money or a substantial number of victims.
If your case proceeds to court, it could be heard in either the Magistrates’ Court for less severe cases or the Crown Court for more serious allegations. The process typically begins with an initial hearing where the charge is read, and you are asked to enter a plea. If you plead not guilty, a trial date will be set. During the trial, evidence will be presented and witnesses may be called to testify.
Some of the key factors that determine if you might go to jail include:
There is no definitive answer as to whether or not you will go to jail for a first time offence of fraudulent trading. When courts consider sentencing for fraudulent trading, they will typically look at:
For a first-time offender, the court may also take into account mitigating factors that could lessen the severity of the sentence. These might include:
In England and Wales, legal aid for criminal cases like fraudulent trading is available, but there are specific conditions that you must meet:
Whatever your situation, it is vital to have knowledgeable and experienced criminal defence solicitors on your side to ensure that your rights are protected and that you receive the best possible outcome. For dedicated support and guidance, get in touch with Stuart Miller Solicitors.
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