Criminal charges that have to do with fraud, financial deceit and similar factors are white collar crimes. There are many different charges that fall under the umbrella of white collar crime so understanding some of the more common ones might be beneficial.
Some of the most common white collar crimes include:
- Embezzlement: Embezzlement has to do with the misuse of assets that you’re placed over. It’s typically associated with companies that have executives or employees who funnel company assets into personal accounts or use the company’s money for the employee’s own good.
- Securities fraud: This crime that has to do with publicly traded companies. You can’t use inside information that isn’t available to other investors to make decisions about your own stocks. Insider trading is the crime that sent Martha Stewart to prison and branded her a felon.
- Tax evasion and tax fraud: Tax crimes are common. While you won’t face this charge for an honest mistake on your taxes, you can face serious charges if you avoid filing the required returns or make blatant misstatements on them.
- Money laundering: Money laundering tends to be associated with other kinds of criminal activity. It occurs when someone takes money earned through illegal means and tries to make it appear as though it was lawfully earned (so that it can later be spent without problems).
White collar crimes are taken very seriously by the authorities. Convictions come with possible time in prison, fines and other consequences. If you’re facing a white collar crime, you need to work closely with your attorney to determine what defense strategy you need to utilize.