Common types of white collar crimes range in nature and scope. They all typically involve financially motivated crimes committed by businesses and government professionals. The penalties associated with white-collar crimes can be severe. Anyone the government accuses of a white-collar crime should immediately seek the help of an experienced white-collar criminal defense attorney. In this article, we examine the most common types of white-collar crimes.
Common White-Collar Crimes
Corporate Fraud: Corporate fraud encompasses a host of different fraudulent activities, including insider trading, the falsification of financial information, and any scheme designed to hide such activities.
Embezzlement: Embezzlement occurs when an employee uses his or her position to misappropriate funds from his or her employer.
Ponzi Schemes: A ponzi scheme is a type of investment scam that uses the funds of new investors to pay prior investors.
Extortion: A person commits extortion when he or she illegally coerces a person or institution into giving up property, services, or money.
Bankruptcy Fraud: When a bankruptcy filer purposely hides assets from the bankruptcy court, he or she commits bankruptcy fraud.
Why White-Collar Crime Is Different
As opposed to some other types of crime, the nature of white-collar crime makes it difficult for law enforcement to detect. Punishment can be severe — particularly if a victim suffers large losses.
Effect of White-Collar Crimes
Although white-collar crimes are nonviolent, the effects of white-collar crimes can be severe and long-lasting. For example, white-collar crimes routinely wipe out people’s life savings, and widespread white-collar schemes can cause groups of people to collectively lose extraordinary sums of money. The effects of white-collar crime aren’t just limited to individuals, however. White collar crime can force businesses to close their doors. The authorities estimate that white-collar crime costs individuals and businesses more than $3 billion every year.
White-Collar Crime Laws
White-collar crime laws exist at both the state and federal levels. Thus, depending on the crime, either state or local governments can prosecute white-collar crime. The sophisticated nature of white-collar crime makes associated cases particularly complicated. The government, however, frequently employs specialized prosecutors and investigators to investigate these crimes.
Contact a Georgia White-Collar Criminal Defense Attorney
If the Department of Justice or a district attorney accuses you of a white-collar crime of any kind, you need to contact an experienced white-collar defense attorney as soon as possible. At Griffin Durham Tanner Clarkson LLC, our white-collar crime defense lawyers prepare to defend you. Our talented white-collar defense attorneys work across the United States. Please contact us today to schedule a free consultation with one of our talented white-collar defense attorneys.