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Help, I’ve Been Named in a Whistleblower Allegation! What Should I Do?

Posted by Joseph D. Lento | Dec 26, 2022 | 0 Comments

“Whistleblowing” is when an employee accuses individuals (or a company) of wrongdoing such as fraud or financial misconduct. As a finance professional, such as a financial planner, you're expected to behave honestly and ethically. Any accusations of wrongdoing could jeopardize your license and the career you've invested so much time in the building.

Here's what to do if you're facing whistleblowing accusations and why you should contact the Lento Law Firm immediately if you're facing such charges.

Cooperate With the Authorities

If authorities such as the Securities and Exchange Commission (SEC) or the Federal Reserve are investigating your case, it's best to be transparent and cooperative. Your attorney will explain how the process works and what information you should provide to bring the matter to its swiftest conclusion.

Avoid Retaliation

Whistleblowers may bring allegations of employer retaliation if they feel victimized or discriminated against after raising a complaint. You should avoid any unnecessary contact with the whistleblower if you know their identity – Attorney Joseph Lento can help you determine the best approach based on your case.

Build a Defense Against the Accusations

You should prepare to defend the allegations. After all, your reputation in the financial sector is on the line, whether you're in banking, accounting, or insurance. The defenses you might use include:

  • Lack of reasonable belief that wrongdoing took place.
  • The allegations don't relate to one of the listed categories of wrongdoing.
  • The accuser brought the allegations for personal gain or for malicious purposes.

Often, whistleblower accusations come from employees who misunderstand a situation. These mistaken beliefs are not malicious in nature, but they're no less damaging – Joseph Lento can help you counter such allegations as quickly and effectively as possible.

What Are the Consequences of Whistleblower Allegations?

The consequences depend on two factors: the nature of the accusations against you and whether the whistleblower can prove their case. As an example, misdemeanor fraud charges could attract the following penalties:

  • New Jersey: Up to six months in jail and fines of up to $1,000.
  • Pennsylvania: Up to five years in jail for a misdemeanor in the first degree.
  • New York: Up to a year in jail.

A felony fraud charge in NJ, PA, or NY could incur a lengthier prison term and steeper fines.

It's hard to build a successful career in finance. There's a huge amount at stake if you're named in a whistleblower allegation – your entire professional career could be in jeopardy. Joseph Lento and his team can help you defend the charges and, where possible, mitigate the consequences.

How a Professional License Defense Attorney Can Help

If you're named in a whistleblower allegation, the Lento Law Firm can help. Attorney Joseph D. Lento has experience handling accusations of wrongdoing, and he can help you present the strongest possible defense to the charges. Attorney Lento and his expert team will ensure you have a fair opportunity to challenge the allegations ­­– contact him online or call him at 888.535.3686.

About the Author

Joseph D. Lento

"I pride myself on having heart and driving hard to get results!" Attorney Joseph D. Lento has unparalleled experience fighting for the futures of his professional clients in Pennsylvania, New Jersey, New York, and also nationwide. With unparalleled experience occupying several roles in the justice system outside of being an attorney, Joseph D. Lento can give you valuable behind-the-scenes insight as to what is happening during all phases of the legal process. Joseph D. Lento is licensed in Pennsylvania, New Jersey, and New York, and is admitted pro hac vice as needed nationwide. In the courtroom and in life, attorney Joseph D. Lento stands up when the bell rings!

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Attorney Joseph D. Lento and the Lento Law Firm are committed to answering your questions about Physician License Defense, Nursing License Defense, Pharmacist License Defense, Psychologist and Psychiatrist License Defense, Dental License Defense, Chiropractic License Defense, Real Estate License Defense, Professional Counseling License Defense, and Other Professional Licenses law issues in Pennsylvania, New Jersey, and New York.
Attorney Joseph D. Lento will gladly discuss your case with you at your convenience. Contact him today to schedule an appointment.

This website was created only for general information purposes. It is not intended to be construed as legal advice for any situation. Only a direct consultation with a licensed Pennsylvania, New Jersey, and New York attorney can provide you with formal legal counsel based on the unique details surrounding your situation. The pages on this website may contain links and contact information for third party organizations - the Lento Law Firm does not necessarily endorse these organizations nor the materials contained on their website. In Pennsylvania, Attorney Joseph D. Lento represents clients throughout Pennsylvania's 67 counties, including, but not limited to Philadelphia, Allegheny, Berks, Bucks, Carbon, Chester, Dauphin, Delaware, Lancaster, Lehigh, Monroe, Montgomery, Northampton, Schuylkill, and York County. In New Jersey, attorney Joseph D. Lento represents clients throughout New Jersey's 21 counties: Atlantic, Bergen, Burlington, Camden, Cape May, Cumberland, Essex, Gloucester, Hudson, Hunterdon, Mercer, Middlesex, Monmouth, Morris, Ocean, Passaic, Salem, Somerset, Sussex, Union, and Warren County, In New York, Attorney Joseph D. Lento represents clients throughout New York's 62 counties. Outside of Pennsylvania, New Jersey, and New York, unless attorney Joseph D. Lento is admitted pro hac vice if needed, his assistance may not constitute legal advice or the practice of law. The decision to hire an attorney in Philadelphia, the Pennsylvania counties, New Jersey, New York, or nationwide should not be made solely on the strength of an advertisement. We invite you to contact the Lento Law Firm directly to inquire about our specific qualifications and experience. Communicating with the Lento Law Firm by email, phone, or fax does not create an attorney-client relationship. The Lento Law Firm will serve as your official legal counsel upon a formal agreement from both parties. Any information sent to the Lento Law Firm before an attorney-client relationship is made is done on a non-confidential basis.

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