There are numerous crimes that fit under the white-collar crime umbrella. If you’ve been accused of a white-collar crime, then you need to hire a white-collar crime attorney as soon as possible. White-collar crimes are extremely serious offenses, and those who are found guilty of them may face high fines and long prison sentences.
What Types of Crimes Are Considered White-Collar Crimes?
Embezzlement
When a white-collar worker misappropriates or steals funds from their employer, this is known as embezzlement. It may involve misappropriating/stealing small amounts of funds over a long period of time, or it could be done suddenly by stealing/misappropriating a large sum from a company account. Misappropriating goods or services can also be counted as embezzlement.
Fraud
Fraud occurs when a person deceives another party for financial gain. The person committing fraud may make false claims about their accomplishments, status, or something else. There are many types of fraud a person may commit, including tax fraud, insurance fraud, and securities fraud.
One example of fraud is identity theft. This is where one person uses another person’s identity to obtain secure information or data. Obtaining this information or data usually results in financial gain for the person committing identity theft.
Insider Trading
Insider trading occurs when a person uses confidential information to help them make money by trading stocks or other securities. The person doing the insider trading knows something that the general public doesn’t, so they have an advantage over anybody else looking to buy and sell the same stocks and other securities.
Ponzi Schemes
Ponzi schemes are a form of investment fraud. The person behind the scheme acquires capital from various investors by promising them high returns with very little risk. However, the person behind the scheme doesn’t invest the money. The schemer uses some money from newer investors to pay older investors, but they pocket most of the funds from the various investors.
Money Laundering
Money laundering starts with gaining funds illegally, such as through drug trafficking or illegal gambling. This money is “dirty” and needs to be hidden from the authorities. The person who obtained it then uses investments, enterprises, and various transactions to “launder” the money.
The aim is to make it impossible to trace where the money came from in the first place. Once the money has been laundered it can be used for legitimate purposes and doesn’t need to be concealed from the authorities.
Why Hiring a White-Collar Crime Attorney Is Essential
Although white-collar crimes are non-violent, they’re taken very seriously. Those found guilty can face severe penalties. You need to hire an attorney with a vast amount of experience dealing with white-collar cases so they can help you deal with your situation in the best way possible. Click the link to learn more about what white-collar crime lawyers do and how you can get in contact with one.
There are a vast number of crimes that fit under the white-collar crime umbrella, and all of them are serious offenses. Working with an attorney who has a deep understanding of this area of the law is a must if you’ve been accused of committing a white-collar crime.
