What Is a White Collar Crime?

 Posted on August 10, 2015 in White collar crime

Some types of crimes are motivated purely by financial gain, and these types of crimes are called “white collar” crimes, referring to the non-violent and money-centric nature of these crimes. White collar crimes often involve fraud in some form, dishonest behavior, or the inappropriate handling of funds or money that belongs to someone else. White collar crimes are often characterized by a highly complicated scheme devised to improperly make or steal money without anyone either noticing that money is missing or being able to easily identify the source of the theft. When white collar crimes happen, many people are affected and victimized.

Most Common White Collar Crimes

There are a number of white collar crimes that result in criminal charges. Fraud is the most common white collar offense, and it takes many forms. Wire, mail and internet fraud; business, business investment, and business opportunity fraud; bank, insurance and mortgage fraud; medicare-medicaid fraud; and securities fraud are some of the most highly popularized and widely reported white collar crimes in the media. For example, failed Ponzi schemes and insider trading are two white collar crimes that many people have heard about in the news due to the high profile individuals that have been involved in these crimes.

Misrepresentation is another common basis upon which white collar crimes are perpetrated. Misrepresentation is the underlying action behind criminal charges for crimes such as falsifying financial documents, falsifying tax documents, and forgery. Tax evasion, corruption, embezzlement and money laundering are all common white collar crimes that are also based on dishonest behavior and the improper handling of money.

Investigation for a White Collar Crime

When law enforcement suspects someone of being involved in a financially motivated crime, they will often openly inform the suspect that they are conducting an investigation. Due to the convoluted nature of the crime, it may take police a significant amount of time to sort out the specifics of the case.

However, in some white collar cases, innocent people get swept up in the mess. It can be difficult to determine ultimate liability, since the whole scheme may be orchestrated so that many unsuspecting people are involved, thereby depleting liability by spreading out accountability to many other people. Sometimes an employee was simply following orders, and had no idea that their actions contributed to something criminal. Whatever the case might be, if you are notified that you are under investigation for the commission of a white collar crime, you need to seek the help and guidance of an experienced white collar criminal defense lawyer immediately.

Call the Law Offices of Christopher M. Cosley

If you have been charged with one of these white collar crimes, or have been informed that you are being investigated, you need to get into contact with a dedicated Rolling Meadows criminal defense attorney immediately. Call the Law Offices of Christopher M. Cosley. Our phone number is 847-253-3100.