Common White Collar Crimes

Common White Collar Crimes

Posted on:
April 28, 2020
Category
Criminal Defense
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When many people hear the word “criminal,” they think of people who have been convicted of violent acts, such as murder, assault, or robbery. Some people may also bring drug charges to mind. However, people are accused of another type of crime every day: white-collar crime. If you face charges of white-collar crimes, you need an experienced Michigan criminal defense lawyer who understands the nuances of these cases. 

There are many types of white-collar crimes. Most of them deal with money in some way. Though these crimes are not as visible as a bank robbery and don’t often get the same attention as a murder, defendants face serious and sometimes life-altering consequences. Below are some of the most common white-collar charges that people may face.

Corporate Fraud

The Federal Bureau of Investigation (FBI) gives corporate fraud crimes a high priority. The term “corporate fraud” is not a charge in and of itself, but rather a type of white-collar crime. People who commit these crimes knowingly deceive others about the value or financial situation of a corporation. In particular, the FBI focuses on activities such as:

  • Insider trading
  • Falsifying financial information
  • Late trading
  • Schemes to manipulate market timing
  • Evading regulatory oversight with illicit schemes
  • Personal use of corporate assets
  • Falsifying net asset values

Depending on the situation, individuals and/or corporations may be criminally responsible for corporate fraud. When individuals are charged, they may face up to 20 years in prison and/or up to $5 million in fines. 

Money Laundering

When people make money from illegal activity, they often look for ways to hide the money. After all, it is evidence of a crime. Some people use a process called “money laundering.” There are many ways to launder money, but they all share a common goal: hide the cash. 

Money laundering in and of itself can be a misdemeanor or a felony, both of which carry incarceration time. Due to the nature of money laundering, it is rarely the only charge a defendant faces. When law enforcement uncovers the laundering, they may also see the crime it was meant to conceal. 

Commodity and Securities Frauds

Like corporate fraud, there are many types of securities and commodities fraud charges. In general, the term refers to fraud committed in regards to legitimate trading markets. As more people invest in markets, the FBI notes an increase in these charges. Some examples of securities and commodities fraud include:

  • Ponzi Schemes
  • Market Manipulation
  • Advance Fee Fraud
  • Commodities Fraud
  • Pyramid Schemes
  • Prime Bank Investment Fraud
  • Broker Embezzlement
  • Promissory Note Fraud

The FBI regularly works with other agencies at all levels of government to prevent and prosecute these crimes. Securities fraud carries a sentence of up to 20 years in federal prison and $5 million in fines.

Defense Against White-Collar Charges

Just because someone is accused of committing a white-collar crime does not mean that person is guilty. Just as with violent crimes, law enforcement may bring white-collar charges to someone without the evidence to prove it beyond a reasonable doubt. White-collar defendants have the right to defend themselves in court with the help of lawyers. 

Contact a Flint White-Collar Defense Attorney

Not all Flint criminal defense attorneys have the experience you need on your side if you’re accused of white-collar crimes. These charges are complicated by nature and different from many other charges. If you’re looking for someone with experience in this field, contact Nickola Law today.

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