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The FBI coined the term “white collar crime” in 1939. Since then, the term has become synonymous with any nonviolent criminal act done for financial gain. White collar crimes often involve deceit, misrepresentation, and falsified business records. Although many people see business crimes as less serious than violent crimes, the reality is that a white collar criminal charge requires the legal representation of a Beverly Hills white collar crime lawyer.
Convictions can ruin reputations, end careers, and result in prison time. If you were recently charged with a white collar crime, it’s time to contact a Beverly Hills lawyer. With the right legal counsel on your side, you can improve the chances of a favorable settlement in your case.
White collar crimes often involve business transactions. There can be a fine line between seeking a profit and engaging in criminal behavior when it comes to white collar crimes. The point at which a business venture crosses over to criminal activity may not be obvious until it is too late. Law enforcement is often tipped off about white collar crimes by someone who was involved in the alleged fraudulent activity, often as an investor.
Many people are familiar with the term embezzlement. This type of crime involves the misappropriation of funds and assets by someone who was trusted to take care of those finances. One example would be an investment banker who takes investments and uses them to pay off personal debts.
If the misappropriated funds are restored, the person who misused those funds can still face criminal charges. If you are charged with embezzlement, it is important not to discuss the circumstances surrounding those charges with anyone except your criminal defense attorney. You have a constitutional right against self-incrimination.
Insider trading is another white collar crime that often involves stocks and bonds. When someone sells or buys stocks based on insider knowledge, that is a type of unfair advantage that can result in criminal charges. Insider trading is seen as a breach of the principles of fairness and transparency in the financial markets.
Any deceptive practices that involve falsified information about a business’s financial status could amount to securities fraud. Business records must accurately reflect the value of assets. Any effort to overinflate those numbers for the purpose of deception could result in criminal charges.
When someone or a group takes ill-gotten gains and then uses the banking system to launder the money for the purpose of disguising the origins of the illegally obtained funds, the applicable crime is called money laundering.
The penalties for white collar crimes range from misdemeanors to felonies. The severity of the crime may be determined by the amount of money that was taken through fraud. A first-time offender who defrauded someone out of a few thousand dollars is more likely to face lower penalties than someone who defrauded investors of hundreds of thousands of dollars.
Prosecutors often consider whether the defendant is a first-time or repeat offender. Aggravating factors could be considered if the defendant was previously convicted of a felony. If prosecutors believe there are elements that make the offense particularly heinous, such as the targeting of elderly victims, the state may seek harsh penalties for the alleged offense.
There are many potential defenses for dependents. Prosecutors have to prove intent. Sometimes, business deals end badly, and people who lose money on those investments may believe there was criminal activity when there was not. To prove a white collar case, prosecutors have to show that the defendant was aware that their actions were criminal yet chose to commit those acts anyway.
White collar crimes are also complicated to prosecute because the evidence is often difficult to gather. If prosecutors are misinterpreting financial statements, that may weaken the state’s case or lead to charges being dropped altogether.
Even in situations where the evidence suggests a crime was committed, there may be mitigating circumstances. Maybe you were pressured into the activity by someone else, or maybe federal law enforcement overstepped its bounds and entrapped you. Your criminal defense attorney in Beverly Hills can explore every possibility when preparing a legal strategy.
A: A white collar defense attorney focuses on defending clients who face charges of embezzlement, money laundering, and other finance-related crimes. White collar crimes are nonviolent. Defending a client against these types of charges requires experience in matters of business and finance.
A: The most common white collar crimes are corporate fraud, embezzlement, Ponzi schemes, extortion, and bankruptcy fraud. Falsifying business records is another type of white collar crime that is frequently prosecuted. Compared to violent crime, white collar crime is prosecuted far less often, often because investigating claims of business fraud is very time-consuming.
A: Like any umbrella group of crimes, it is difficult to find the average sentence for white collar crimes because the penalties for these cases range considerably. Someone charged with a misdemeanor for the first time in their life may be given probation, while someone who commits multiple criminal acts may face prison time. Most white collar crimes require anyone convicted to pay restitution to victims.
A: White collar crimes are generally more difficult to prove when compared to crimes like robbery and assault, where the criminal act may have been recorded or witnessed. White collar crimes require prosecutors and law enforcement to conduct complex financial forensic investigations while proving that the defendant intended to commit a crime. Any weakness in the state’s case will help the defendant.
Being charged with a white collar crime is a serious problem that can lead to jail time, fines, and other penalties if you are convicted. Fortunately, white collar crimes are often difficult to prosecute. Prosecutors must prove beyond a reasonable doubt that a crime occurred and you knew the conduct was criminal in nature.
Law Offices of Marc S. Nurik can provide a robust defense that protects your rights and works toward reducing the potential penalties tied to your case. If the evidence shows that you did not commit the crime that you are charged with, our attorney can fight to have the charges dropped. To schedule your consultation, contact our office today.
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