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White Collar Crimes Attorney in White Plains

White collar crimes are a different branch of crimes that may not be the first things that many people think of when they consider charges, but they are actually very serious and can come with immense penalties. They are typically non-violent and for the purpose of financial gain. Often these crimes can be difficult to trace since those behind them can use intelligent means to hide their activity and remove any trail. These crimes serve as evidence that anyone can find themselves at odds with the law and many high powered business professionals have been accused. Speak with a White Plains criminal defense lawyer immediately if you are charged or you become a suspect in a case.

These crimes can include anywhere from a class B misdemeanor to a more serious felony. White collar is a term that was originally from 1939 when Edwin Sutherland stated the difference in these types of instances. Today, the FBI has stated that these crimes are defined by illegal activity through the use of cover-ups, violating trust, deception and do not require violence or the threat of it to take place. Some common types are as follows:

  • Tax evasion
  • Insurance fraud
  • Financial fraud
  • Internet fraud
  • Antitrust violations
  • Insider trading
  • Securities fraud
  • Money laundering
  • Stealing trade secrets
  • Forgery

What is fraud?

Fraud includes crimes which are committed under false pretenses. There are many ways that this takes place and it is one of the most commonly committed types of white collar crimes. Scams are a common problem and these can include offering a product or service with glorified conditions presented as a likely outcome. Fraud can take place in any number of ways, regarding insurance, healthcare, credit cards, the internet and more. It takes the information of another person by acquiring it either without permission, or using it in a way other than what they intended.

Money Laundering is taking money illegally and concealing it. This is done by putting the money in a system, covering it in some manner and integrating it through the transaction of funds. There are a number of ways that it can occur, including through smuggling cash or investing in a bank and moving the money through it. Embezzlement is when assets are withheld from the person they rightfully belong to. This is a type of financial fraud where the person that is entrusted with the responsibility, negates their duties.

Embezzlement can occur in a business, or even amongst a married couple. These crimes normally consist of certain factors: the fraudulent activity for the conversion of the property of the individual that legally owns it. White collar crimes are not only financial and they can include stealing or giving something that is also valuable, such as company information. This can be seen through trade secrets, when confidential information of a company is given to their competitors or customers. Insider trading encompasses the trading of securities or stocks. Information that is only known by those on the inside can be transferred.

Internet Crimes

Many scams are being committed online, and this has gained more popularity due to the wide spread reach and the easier accessibility. This can be selling items that will never arrive, creating a site of a nonexistent company to convince people to invest in it or taking credit card numbers when people buy items through a site. Identity theft can be easily committed online and with the large amount of information that is out there, it can be simple to take the information of another person and use it to one's own benefit. By pretending to be the person whose information they have taken, many people are able to open up bank accounts, can gain access to medical aid or pretend to be another person if they are arrested for a crime. The laws regarding it are covered in N.Y. Penal Law §§ 190.77 – 190.80. in the third degree it will be counted as a Class A misdemeanor and in the first degree it will constitute as a Class D felony.

Ponzi Schemes

Ponzi scheme is a term that was named after Charles Ponzi who used this scheme during the 1920s, but he was not the first person to invent them. Through this technique investors in a company are paid with their money and the money of other investors, as opposed to the actual operation of the company. The main draw is typically a high payout and this requires that new investors continually be added to keep the operation functioning.

Legal Consequences for White Collar Crimes

White collar crime is a broad term that covers a number of different illegal activities. That being so, there is no blanket statement for the types penalties each person may face. There are countless factors that will go in to determining this, with some of the main ones being, the type of crime committed, the extent of it and if the accused has a criminal background. Since many of these crimes are business related or are committed via the internet, the evidence that is gathered can be through these venues. It may be through reviewing the financial records of a company or by tracking the computer activity of a suspect. Some accused individuals can deal with the loss of their job if they are found guilty. Even after a case has been resolved and the name of the accused has been cleared, the can face the tarnishing of their reputation.

Other penalties include jail time, expensive fines, probation, restitution payments, community service and other consequences that the court finds fitting. These crimes can vary in their degree of severity. Some people may not even be aware that they are committing a crime that can be penalized to such a degree. They may issue a bad check, and under N.Y. Penal Law §§ 190.05 they can deal with a Class B misdemeanor. They may commit forgery and are charged for a Class A misdemeanor for Forgery in the third degree or a Class C felony for forgery in the first degree. The FBI has put in a lot of effort to put an end to those that take place on a higher level. There are both state and federal regulations against any of these illegal activities and without forceful criminal defense, those accused can face any number of outcomes.

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Law Office of John M. Cromwell - White Plains Criminal Attorney
Located at 135 Montgomery Avenue, Scarsdale, NY 10583.
Phone: (888) 372-9209.
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