- December 14, 2019
- May Law LLP
- 0 Comments
It is very easy to believe that the only criminal charge that face serious consequences are violent crimes. While this is true, white collar crimes are just as serious and should be taken just as seriously. White-collar crimes come in different forms and are usually scams caused by the accused’s attempt to gain finances through deception of another individual or a business. There are a variety of white-collar crimes, but there are some that are more common than others. Below is a list of the common white-collar crimes and what they consist of:
- “Insider Trading” is a common white-collar crime, this offense occurs when an individual works for a specific company or has knowledge of this companies’ investment trades. Such as an insider selling their stock in the company due to their knowledge of any earning reports they are aware of. This also occurs by providing false information to an investor to somehow convince them to invest money into the company.
- Insurance fraud is very common as well. This occurs when someone collects insurance claims money by making false claims or reports.
- Ponzi schemes which is most famous is also a very common white-collar crime that tells investors they can expect a high return for a small investment. They use these new investments to pay older investors, if new investors do not come in the scheme crumbles.
- Embezzlement is simply put, stealing money from an employer. If not a employer to employee, this occurs when anyone is paid for a service/job and funds are improperly used.
- Tax evasion is common as well. This occurs when an individual avoids paying their taxes that are owed. If an individual improperly files or moves property or money around to avoid owing for said property, this is evasion.
- Money laundering is very common in movies or television because it is also common in reality. This occurs when an individual takes illegal money and trades it for “clean” money. The money is moved around so much that it cannot be tracked. A launderer will make sales or accept cash on many transactions to move the money elsewhere.
There are several other white-collar crimes, and it is best to educate yourself on them so that you may avoid unknowingly committing these offenses. However, should you or anyone you know be facing criminal charges for any white-collar crimes listed or not listed, contact a Decatur criminal lawyer as soon as possible to see what legal options you have. White-collar crimes are punishable by fines, probation, and jail time, so it is important to have legal representation to help reach the best outcome possible.
Thanks to Andrew R. Lynch, P.C. for their insight into criminal law and white collar crimes.