White collar crimes can have penalties just as severe as violent crimes. In fact, some people have served life sentences for their white collar crimes. Punishments can also include fines of hundreds of thousands of dollars or more. Other consequences may be the loss of a business license, the inability to work in a specific state, and more. These punishments can harshly change your life, so you need the best defense possible. What are some of the white collar crimes that you need to hire a defense attorney for?
Fraud
Fraud is an act where you purposely deceive another person or party for gain. Fraud may also involve a deceptive action where the victim’s rights are denied. There are several types of fraud, including wire fraud, securities fraud, tax fraud, bankruptcy fraud, and credit card fraud. Various legal defenses can successfully be used for fraud charges.
Embezzlement
Embezzlement occurs when you take full control of assets that were not lawfully yours to control. Often, the accused has access to the assets or control over them, but they are not the rightful owner. Deception and a violation of trust are often components of embezzlement. A skilled defense attorney is needed to identify weaknesses in the prosecutor’s case and work toward the best outcome available under the law.
Identity Theft
If you face identity theft charges, you are accused of stealing someone else’s name, Social Security number and other identifying information and using it for personal gain. Often, an identity thief will drain the victim’s bank account with purchases and balance transfers. The thief may also open new accounts or pay for medical services under the victim’s name.
Insider Trading
The Securities Exchange Commission has strict rules related to trading and carefully monitors activities to identify insider trading. An investor is not permitted to make trades based on inside information. This is information that has not been published or released by the company and is not accessible to all potential investors. Insider trading places the guilty party in an unfairly advantageous position for financial gains.
Bribery
A bribe is when you offer money or other gifts in exchange for favorable terms or treatment. On a criminal level, bribery may involve seeking contracts or other favors from the government with the offer of an asset or other special considerations. Bribes can negatively impact victims beyond those involved in the direct transaction.
Money Laundering
If you are accused of money laundering, law enforcement believes that you have disguised the legal source of your funds. Specifically, money laundering involves cash that was produced through illegal activities, such as drug sales. This money is then transformed through various processes so that it appears to have been generated legally. Some people facing money laundering charges are also accused of charges related to the illegal source of the money.
These are examples of serious white collar crimes with potentially devastating punishments. A skilled defense attorney will work to reduce the charges and penalties, get the charges dropped, or seek a not-guilty outcome in court. Schedule a legal consultation to discuss your circumstances today.
Published by: Khy Talara
