White collar crimes are non-violent acts that range from fraud, identity theft, pyramid schemes and more. There are many different categories that fall under this classification. While some people think that these aren’t very serious matters, convictions often bring time in prison, hefty fines, and other penalties.
A person who’s charged with a white collar crime should be sure they understand what they’re being charged with and what sentences they’re facing. This is determined by the circumstances of the crime.
What are some common white collar crimes?
There’s a broad array of white collar crimes that happen out there, but some of the most common include:
- Insider trading: This occurs when a person makes stock transactions based on information they have that’s not available to the public. For example, a person who works at a company might warn a friend to sell their shares because there’s something happening that’s going to make the value of the company plummet.
- Embezzlement: This happens when a person who’s entrusted with a company’s assets, including cash, misuses it for their own financial gain. Fraudulent invoices or fake expense receipts are examples of ways embezzlement can occur.
- Money laundering: This involves taking money made through illegal means and funneling it through something that’s legal. For example, a person who uses the money made from drug sales to purchase something that they sell in an online auction before they deposit the proceeds from that sale into a bank account is money laundering.
Anyone who’s charged with a white collar crime should ensure they learn their defense options quickly. These cases are often associated with a considerable paper trail. Being able to call the prosecution’s claims into question is likely going to be helpful.