Federal Agents (the FBI, DEA, Customs) depend upon shock and awe to obtain cooperation. It is not in your interests to speak to them without first consulting with counsel. Even if you have nothing to hide, what you say in that initial interview can end up being used against you.
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Everyone is presumed guilty
When we read the headlines, our first inclination is to believe that the person charged with a crime is guilty. Our willingness to assume guilt insures that his or her personal and professional life will be ruined even if he or she is eventually vindicated at trial or on appeal.
The potential for wrongful conviction is greatest in white collar cases. This is because the difference between guilt or innocence has little to do with the accused's conduct and everything to do with the accused's state of mind: what they knew, when they knew it, what they intended. Just ask Frank Quattrone; wrongfully accused.
When confronted by government agents, you have had no time to prepare. Your mind races. Your ability to recall and reason is clouded by fear. Some people will automatically deny facts that are demonstrably true. Others will confuse dates or events. Some will be overcome by feelings of guilt for actions that are not even criminal.
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Why you should never speak to agents without speaking to counsel first.
Whenever there is a financial crisis, the public cries out for blood. Hindsight bias causes prosecutors to believe that what might have been predicted, was predicted, that what could have been known, was known, that what was not disclosed, should have been disclosed. And those in a position to predict, know, and disclose are guilty of federal crimes for their failure to do so. This is why the only rational response to a visit by government agents is to tell them that they will have to speak to your lawyer. Not because you have anything to hide. But because you are in no shape to answer their questions.
Keep this in mind. If speaking to the agents is truly in your best interests you will always have another opportunity to do so. But it will be at a time and a place of your choosing and under circumstances where your rights are protected and your decision informed and intelligent. Looking after yourself, your family, and your business is the right thing to do.
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