Sometimes people may not think of white collar crime as serious but white collar criminal charges are serious criminal charges and can carry potentially significant consequences for accused individuals. The term white collar crime refers to a variety of different crimes but typically all are motivated by the desire for financial gain and deceit is commonly used in the commission of them.
White collar crimes commonly refer to fraud, embezzlement, tax evasion and money laundering. Specific examples might include running an illegal Ponzi scheme, securities fraud such as insider trading, insurance fraud or even mortgage fraud. Many white collar crimes are fraud crimes. Fraud crimes generally involve deceiving another party for monetary gain. Embezzlement is one example of a white collar crime in which a party, such as an employee, takes money from a party they owe some type of duty to such as their employer.
White collar crimes can result in serious prosecutions and potential penalties and consequences for accused individuals which is why accusations of white collar crime should never be taken lightly. When an individual has been accused of committing a white collar crime, they should promptly consider their criminal defense options and protections. Forming a strong criminal defense strategy will take into account the charges being levied against the accused individual, along with the circumstances, and can potentially mitigate or eliminate the charges and possible penalties they are facing.
Whenever an individual is being accused of committing a crime, including white collar crimes, it is essential for them to be familiar with their criminal defense rights and how to assert them. Criminal defense protections and the formation of a strong criminal defense response may be all that stands between an accused individual and the potential loss of their freedom.
Source: Criminal.findlaw.com, “White Collar Crime,” Accessed May 17, 2018