White collar crimes are those occurring in the business environment and not involving violence or weapons. These crimes focus on fraud, hiding assets and abusing financial power. They frequently make the news, and the category now includes the theft of sensitive information, electronic funds and identity theft.
Categories of White Collar Crime
A white collar crime involves an intentionally fraudulent aspect of business, whether it’s an investment scheme or insider trading. The category includes offenses such as:
* Bankruptcy Fraud
* Finance Advisor Fraud
* Ponzi Schemes
* Tax Fraud
The Criminalization of White Collar Behaviors
Over the past three decades, the trend has been to criminalize certain aspects of white collar activity. In the past, such activities may have resulted in a lawsuit or termination at the worst. However, today’s white collar criminals can end up in prison. If a company is monitored by a professional regulatory department or licensing board and the owner is charged with a violation of state or federal law, they can face steep fines and lengthy prison sentences even with the help of a White Collar Crimes Defence Lawyer in Bel Air MD.
White Collar Crimes are Non-Violent in Nature
The roots of white collar crime are in manipulation, fraud and deceit. These non-violent offenses have grown more frequent over the past 50 years, and much of the increase is due to the broadening definition of criminal activity. This is particularly true at the federal level. Where past activity may have resulted in a civil suit, the same behaviors today can result in criminal litigation.
The Consequences of White Collar Crime
Those accused of white collar crimes should understand that the consequences do not completely depend on the size or amount of assets taken. To commit such an offense, a defendant must have held a position of trust, and they must have had a fiduciary duty to care for someone else’s money.
Most judges consider such violations worthy of a strict sentence, depending on the circumstances. For instance, if a defendant takes money from a company’s profits or steals from a vulnerable person, the judge is likely to impose a lengthy jail sentence for such an offense. Therefore, those charged with white collar crimes should understand that the offense is not victimless and they should hire a White Collar Crimes Defence Lawyer in Bel Air MD like Maria Caruso right away.