Being accused of committing a white collar crime can be overwhelming and alter the accused individual’s life in an instant. Because of this, it is especially important that accused individuals understand the charges they are facing and what they can do about them.
White collar crime is a term used to describe a category of crimes that are usually committed primarily for financial gain. There are several different crimes that fall under the broader umbrella of white collar crime:
- Fraud – fraud is the most common type of white collar crime. Fraud refers to the use of deceptive practices for financial or monetary gain.
- Securities fraud – securities fraud is another type of white collar crime. Common examples of securities fraud include insider trading or running a Ponzi scheme.
- Embezzlement – embezzlement is another type of white collar crime. Embezzlement refers to situations when an individual is lawfully in possession of property but takes it, denying the proper owner of the property, such as an employee who embezzles money from an employer.
- Tax evasion – criminal tax evasion is another type of white collar crime that refers to criminal activity to avoid taxes which would otherwise be owed.
Typical examples of white collar crimes includes fraud, embezzlement, tax evasion and money laundering. For accused individuals facing white collar criminal charges, it is a mistake to think that they are not serious criminal charges in need of a strong criminal defense strategy and approach.
There are different methods of defending against criminal charges that can include challenging the alleged facts, evidence or actions of authorities and the best option is uniquely fit to the situation. As a result, it is important for individuals facing white collar criminal charges to be familiar with their criminal defense rights and options immediately upon being charged with a white collar crime.