Der Customer - The worst thing your friend can do is talk to the cops so tell him not to make any statements to anyone. If he is charged with a crime he will need an attorney and if he cannot afford an attorney the court will appoint one. Under no circumstances should he make any statements to anyone until he is represented by counsel. It is possible he could be arrested but it is more likely he would be charged and order to appear on his own recognizance assuming he does not have a criminal record. I can't predict what the cops or the prosecutor will do in a specific case but since this is a "white collar" crime and there's no danger to the public the chance of an arrest is less than it would be if there was some type of violence involved.
At this point, unless he can afford an attorney, he can't do anything about what the sheriff or the prosecutor may do so he should do nothing and he should call anyone, except of course an attorney. Keeping silent at this stage of the proceedings is the most important and only thing he can do. Every defense lawyer in America will tell you the same thing.
DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.
The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).