While many people associate prison time and hefty fines with more traditional crime, like acts of violence or physical theft, there are other, more fraudulent ways to find yourself charged with a daunting sentence. White collar crime, usually committed by individuals against businesses or the government, is still taken very seriously and will have more than just the local PD knocking at your door.
What is a White Collar Crime?
Unlike traditional crimes which often include violence, physical intimidation and a clear victim, white collar crimes are considered to be mostly acts of fraud, usually done behind the scenes, on pen and paper (or computer), and are committed by more business savvy individuals or government officials. These nonviolent acts include everything between forgery, tax evasion and money laundering, and essentially all types of fraud. Usually, the motives behind such acts include financial gain or the avoidance of losing money.
The Consequences of White Collar Crime
Although white collar crime may not seem as serious as acts of violence or theft, as those leave clear victims and may result in major hardships, the fraudulent behavior is still considered criminal and can lead to significant legal repercussions. Plus, since these types of crimes are often evasive and deceptive, more powerful government agencies are likely to be involved with the investigation, like the FBI or IRS. This can lead to a much more troublesome legal process for any defendant who may find themselves accused of such crimes. Being convicted of these crimes can lead to a large number of consequences, including:
- Prison/ Jail Time
- House Arrest
- Asset Forfeiture
- Fines and Restitution
Stay out of Trouble and Get Help When You Need It
It is important to understand what constitutes a white collar crime. Any individuals involved in business should know how to avoid committing these acts, as it can lead to extensive legal trouble and leave a person convicted of criminal charges. Since this field of law isn’t so black and white, it may be smart to consult with legal professionals here at Catanzaro Law to get a complete understanding of what, and what not to do. We are committed to helping those who may have confusions, want a better understanding, or are in need of professionals to help defend them in the courtroom. Contact us today, by phone or email, and let us help you avoid legal repercussions by giving you clear guidance when it comes to business. Or, feel confident with us representing you as we will do everything we can to mitigate any legal repercussions you might be facing. Get in touch with us today for a free consultation!