Defining white-collar crime

On Behalf of | Jul 7, 2022 | Uncategorized

White-collar crime is a broad category that includes a variety of different crimes. Conviction on white-collar crime charges can carry significant penalties including steep fines and time in prison. And because white-collar crime cases are often highly complex, it’s important for the accused to be prepared for a complex criminal defense.

Examples of white-collar crimes

Generally, a white-collar crime can be almost any financial crime that occurs in a workplace setting. Embezzlement is a commonly known type of white-collar crime that involves an individual lawfully in possession of money to misuse it for their own purposes.

A more complex category of white-collar crime is corporate fraud. Examples of corporate fraud can include falsification of financial information and insider trading.

Money laundering is another example of a white-collar crime. The intention of money laundering is to take money that was illegally obtained and conceal its origin by using it in legitimate financial transactions.

Intellectual property theft can also be considered white-collar crime in some instances.

Investment fraud

Many white-collar crimes involve investment fraud. Examples of investment fraud include Ponzi schemes, “pump-and-dump” schemes and other schemes, some of which are quite complex. Mortgage fraud, insurance fraud and tax evasion can all also be considered examples of white-collar crime.

Because the category is so broad, it can be hard to make generalizations about white-collar crimes. Some of them are prosecuted under state law and some under federal law. Some defendants may face both state and federal charges. In either case, prosecutors are highly trained and prepared to win a conviction. Defending against the charges can be very difficult. It’s important for the accused to seek out help from experienced criminal defense attorneys.