September 24, 2017

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White Collar Crime

Distinguished from other crimes, white collar crime typically is non-violent and involves an abuse of a professional or privileged position, often through employment. Common white collar crimes include:

  • Fraud
  • Embezzlement
  • Insider trading
  • Bribery
  • Forgery
  • Money laundering

If you are charged with such a crime, it is very important that you obtain the services of a Criminal Defense Attorney who specializes in the unique area of white collar offenses. View qualified White Collar Criminal Defense Firms in your area to find White Collar Defense Attorneys.

Fraud

Generally defined as benefiting from knowingly giving false or misleading material information, fraud can appear in many ways including:

  • Misrepresentation
  • Identity theft
  • Securities Fraud (Broker Fraud)
  • False insurance claims
  • Email scams

Embezzlement

Embezzlers secrete financial assets, without permission or authority, with the intent to benefit themselves. Examples of positions that can be exploited to fraudulently take another’s assets include:

  • Money-accepting clerks from businesses and local governments
  • Cashiers from employers
  • Lawyers from clients
  • Trustees from trusts

Because of their trusted position, a careful embezzler can successfully continue a small operation for years, particularly if the accounts are not audited.

Insider Trading

When an individual who has information unavailable to the public, typically an employee or officer of a corporation, uses that to trade in a security (stock, bond or stock option), he/she is guilty of insider trading.

Insider trading can also include trades in or by related parties or organizations, as well as any breach of fiduciary duty (legal duty owed because of the relationship between the parties, such as a trustee and beneficiary).

Bribery

When a person gives or offers something valuable to one with legal or official responsibilities for the purpose of changing that person’s actions or decisions, a bribe occurs. Common bribes include:

  • Money
  • Preferential treatment (such as a promotion)
  • Services
  • Goods

Forgery

Similar to fraud, forgery involves making a duplicate object or document with the intent that it be seen as the original. Although many things and documents may be legitimately copied, it is the intent to deceive and the knowing misrepresentation that distinguishes forgery from lawful activity. Well-known types include:

  • Signatures (such as on a check)
  • Counterfeiting currency
  • Art reproductions (sold as originals)

Money Laundering

When money or assets, especially in large quantities, is illegally gotten, if it is not disguised, its appearance will raise suspicions. Money laundering is a method where the ill-gotten asset is routed through a legitimate business so that the money appears to have a legal source.

For example, cash-based businesses that do not typically keep strict books, such as a busy nightclub, could accommodate an additional influx in cash without appearing to be doing anything illegal. After it has been combined with the legitimate receipts of the business, it can be distributed as profits to the owners without raising suspicions as to its origin.

Related areas:

Criminal Law, Securities Law, Broker Fraud, Internet Fraud Attorneys, White Collar Defense Attorneys