For anyone worried about, or facing, white collar criminal charges, accusations and allegations, it is helpful to be familiar with what is considered white collar crime. White collar crimes are generally fraud crimes and can result in significant penalties and consequences for accused individuals.
Securities fraud is one of the primary types of white collar crime. Securities fraud, or insider trading, occurs when an individual uses inside information about a company, unknown publicly, to make investment decisions. It typically involves a violation of a duty or obligation. Additionally, knowingly misstating the health of a company can also be considered securities fraud in violation of the law.
Embezzlement commonly involves an individual who is rightfully in possession of property, usually money, that they misappropriate for their own purposes. An example is an employee who embezzles their employer’s money.
Tax evasion occurs when the accused individual is alleged to have avoided taxes they would otherwise lawfully owe.
There are several steps in the money laundering process but it essentially takes place when an accused individual filters illegally obtained money through a series of transactions intended to make the money appear legitimately obtained or earned.
There are other types of white collar crime as well, including insurance fraud; white collar crimes typically involve allegations that the accused individual used deceit for monetary gain or advantage. Preparing a strong criminal defense strategy in response to them can be a key to minimize the potentially significant penalties and consequences associated with white collar crimes.