White-collar crime can describe a range of crimes committed through deceit and inspired by financial gain. Offenses generally considered to be white-collar crime include:
When a person inappropriately takes money from someone to whom they owe a specific duty, it is known as embezzlement. Some examples include an investment adviser who wrongly uses client funds they’ve been entrusted to protect, a company employee that embezzles money from their employer by siphoning money into a personal account, and attorneys who improperly use clients’ funds.
- Securities Fraud
There are different kinds of securities fraud. One of them is false or misleading statements in public reports from publicly traded companies. Another is insider trading, which involves trading information in violation of a duty or obligation by someone with inside information about an organization or investment trades.
When an individual seeks investment in an organization by intentionally misstating the organization’s prospects, health, or finances, it can be called securities fraud. By luring an investor to put up money based on false or misleading information, the organizations and its staff commits securities fraud. To commit securities fraud, people speaking on behalf of the organization must make these false statements knowing that they’re false.
- Money Laundering
Money laundering involves filtering illicitly acquired funds through a string of transactions intended to make the funds emerge clean or genuine. First, the funds are deposited into a bank or brokerage. Next, the funds are separated from its illegal source by portions of often multifaceted transactions, making it more complicated to trace the dirty money. Finally, integration is done.
- Tax Evasion
Tax evasion is a white collar crime through which the offender endeavors to avoid taxes they would otherwise owe. Tax evasion can be in the form of basically filing tax forms with fake information or illicitly transferring property so as to avoid tax obligations. People just as organizations can commit criminal tax evasion. As with fraud, there are maybe limitless approaches to commit tax evasion.
When a person is charged with a white collar criminal offense, it’s vital to seek the assistance of a lawyer. Depending on the charges in question, white collar crimes can involve a range of state and federal laws with a lot of probable punishments that can be detrimental. An experienced white collar defense lawyer can help navigate any prospective criminal liability, as well as defenses that may be available.