Likely yes. Rhode Island and federal fraud convictions typically trigger asset forfeiture proceedings that seize property traceable to the fraud proceeds or used to commit the fraud. This can include bank accounts, real estate, vehicles, business interests, and personal property. Mandatory restitution adds a court-ordered debt to victims that is non-dischargeable in bankruptcy. The combined effect of forfeiture and restitution often exceeds the actual amount of the alleged fraud, leaving defendants in worse financial shape than before the case. Defense work focused on contesting the forfeiture scope and negotiating restitution terms is critical. Call Chad F Bank at 401-573-2265 for a free consultation.
