Falsely Accused, Arrested Due To Fraud, Please Help
Earlier this year I was falsely accused of (non-work related) fraud and let go from my job. The charge was not a felony, but a misdemeanor. After months of paperwork and argument, the prosecutor is going to have the case dismissed and all records (including the arrest) sealed late November, the next time I'm due in court.
Until then, I can't get a job in finance because the arrest is still public record. I've tried before, got an offer, but failed a background test, so until then I am in putting myself in a "penalty box" limbo state.
Since I left my last job, I have been working for a non-finance related startup. But of course I want to get back into finance.
Since Labor Day, I have been getting a number of interview offers and have declined all of them because of the arrest. It really annoys me, especially since one of them was for an ER role.
I've done the back office -> front office move, but the front office move was in a quant role on the buy-side.
I want to move towards fundamental investing but I have zero modeling experience. What I do have is a CFA and very strong Excel skills. (Stronger than many of my banker friends) Because of this, most of my interview requests are for back office roles and F500 corp finance roles. It would be a huge step back in my career.
My questions are:
1. What should I do for the next two months to position myself appropriately for front office roles? I have the BIWS courses
2. When should I start networking? There's no sense networking and possibly declining offers again if I was given an offer in say late October.
3. My former job will say I resigned. What should my pitch be?
-I was fired due to a false arrest and now I want back in the industry. This will make me stand out, but perhaps in a negative way. I have a feeling that talking about an arrest *for fraud* (even if charges were dropped) is a big no-no and an automatic ding. It could possibly place me on blacklists. Many firms are really risk averse so I totally understand.
-I took a break to help a family friend launch a startup and now I want back in the industry.
Or maybe I should just say screw it and go for a hard reset at B-School. My GMAT is pretty competitive (750) and I'm getting old.
Say you wanted to try something else and realized that it was not for you.
I would start networking now but put a false time delay such as "I'm very in how I could learn more about what you do, I'm currently studying breaking into wall street (or another program here), is there anything else you would reccomend i pick up?"
Then go and pick up said material, ask questions in the next several weeks, and once you have it down, ask for the resume submission.
I know people who have been there and done that
Pray to whatever deity you hold dear that the prosecutor actually comes through for you. Most of them are total pricks and wouldn't be working for slave wages in the DA's office if they were worth a shit.
What if I get into an MBA program? Wouldn't it piss off anyone I network with to get a job from them and then quit in less than a year?
@Edmundo, I did a background check on myself and the paperwork has already been filed. All I have to do is show up in court in November and the case (and arrest) are thrown out.
Can you sue for damages?
I've spoken to a number of lawyers. They won't take my case (and have advised me to let it go) because
Be honest. Not necessarily right away, but at that "is there anything else you need to tell me point". Easiest approach. Either they go for it or not.
The ideal situation is after you've interviewed with the hiring manager and they want to bring you back for another round of interviews with the team. Be open to answering a lot of questions and a full investigation.
I think an MBA at this point is premature. An MBA is an investment in your career, and you're investing in an impaired asset. It's like owning a mall with 60% occupancy and THEN adding on an extra addition hoping you can find tenants. I'd much rather see you invest in an MBA after this is all cleared.
Well by the time I apply for Round 2, this is all going to be cleared up. If I wait until next year I'll be dead in the water because my work history will look like:
Back Office (2 different firms, Firm X and Y - external promotion from X to Y. Firm Y was less than 1 year) Front Office (Different Firm, Firm Z) Startup ( 1 Year) Some other Finance job (1 year)
Too many short term jobs. 3 of them will be under 1 year, I'll show 5 jobs in 6 years = DING
And I'll be another year older.
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