White collar crimes are unique in that they often are not immediately identified, however the consequences can be significant. White collar crimes often involve significant dollar amounts and the conduct may span over a large period of time. Persons charged with white collar crimes should treat the charge seriously and seek out the assistance of a criminal defense attorney. Following are 10 common types of white collar crimes.
1. Insurance fraud
False insurance claims are sometimes made in an effort to obtain insurance funds. There are strict laws that prohibit misrepresentations to insurance providers. These types of false claims could arise under any type of insurance, including automobile, property, health, medicaid, etc.
2. Insider trading
When an individual has or obtains confidential non-public information about stocks or other securities and they utilize that information for their own benefit, then it could be criminally punishable as insider trading.
3. Computer fraud
If fraud is committed using a computer or other electronic means, then it could result in criminal charges. In today’s digital world, individuals frequently hide behind usernames and firewalls to take advantage of others.
4. Identity theft
Using another person or entity’s information without their knowledge or consent could result in charges for identity theft. If a person has used this information for their own benefit and to the detriment of the other, then there could be significant consequences.
Using bribes or other improper inducements to obtain a benefit and to influence others could be illegal in certain circumstances. The motive behind the offered benefit and the reasonableness could be important factors in determining whether it constitutes criminal conduct.
Persons who take, withhold or divert the funds of an entity to benefit themselves or another could be found guilty of embezzlement. Embezzlement cases frequently arise when a person has access to finances of a business and they secret funds away without the business’s knowledge.
7. Tax evasion
Taking action to avoid or reduce taxes may be punishable if the actions taken are not permitted by the tax laws. This could include failing to report required information or making false claims on tax filings.
8. Money laundering
Diverting funds to avoid reporting obligations and alter the financial standing of a business can be serious and result in criminal charges.
9. Real estate fraud
False statements or omissions of important information in a real estate transaction could give rise to a real estate fraud claim. Real estate transactions have very specific laws in place that create certain duties and obligations that must be followed.
Making threats to coerce another to take or abstain from certain acts could constitute extortion and result in penalties. This could include threats exposing information or financial threats.
White collar crimes may result in misdemeanors or felony charges, with penalties including fines, prison time, loss of certain rights, and restitution. For some professions, it could result in loss of licensure or other benefits related to the occupation. Some white collar crimes could also result in a loss of some civil rights.
Because the potential consequences are significant, you should seek out representation from a criminal defense attorney if you are accused or charged with a white collar crime. Any attorney can provide you with legal advice. They can also help identify potential defenses or factors that could reduce the consequences.
If you are facing charges for a white collar crime, then contact jaxcriminaldefenseattorney.com to learn more about your rights and what options may be available.