White collar crimes are those that have a foundation in deceit and fraud. In many cases, the goal of them is financial gain. While these actions might not result in physical harm to the victims, they can still have a damaging impact.
There are many types of white collar crimes, but the one thing that they all have in common is that you have to do them on purpose. It isn’t possible to accidentally commit a white collar crime. These are some of the more common:
- Mortgage fraud: Lenders and borrowers can commit mortgage fraud by stating untruths on applications and other documents for the mortgage.
- Securities fraud: Not handling stock properly or using information that isn’t available to the stockholders to make decisions about actions related to the stocks (known as “insider trading) is illegal.
- Embezzlement: Taking money improperly from a company when you were entrusted with the assets is illegal. It’s possible for employees, executives, owners and anyone else give a fiduciary responsibility to commit this crime.
- Tax crimes: Misstatements on income tax statements are illegal, so you should be sure that only include factual information in the returns.
- Money laundering: This involves taking money earned through illegal means and moving it through something that makes it appear legal.
One factor to remember when you’re dealing with a white collar criminal charge is that there is often a lengthy paper trail. This can come into the picture when you’re preparing your defense. Ensure that you work closely with your attorney so that you’re aware of the options you have. It’s imperative that you consider each one carefully.