fraud white collar crime

Common Types of White-Collar Crime

White-collar crimes are typically 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.