What are the categories of white collar crime?

Do you know the types of crimes that are considered “white-collar” violations? In most situations, white collar crimes involve financial misdeeds that are often attributed to those with larger personal resources. However, this category of crime comprises a wide variety of violations for North Carolina defendants. Today, we learn more about the most common types of white collar crime.

Many white collar crimes fall under the category of fraud. Securities fraud is one of the most common — consider Martha Stewart’s conviction for insider trading, for example. Executives who provide advantageous earnings information to interested parties may be violating the law. Securities fraud also occurs when company representatives knowingly misstate key facts about the company in order to lure in investors. Mortgage fraud and insurance fraud also fall under this umbrella.

Did you know that tax evasion is considered a white collar crime? Although many people who avoid paying taxes may not be considered rich, they are still committing a serious violation. Criminal tax evasion occurs when a defendant is accused of avoiding taxes that would otherwise be owed. This can include filing documents with false information and illegally transferring property. Individuals and businesses can both be accused of tax evasion.

What other types of white collar crimes exist? Embezzlement is also considered a white collar crime. Someone accused of embezzlement is thought to have improperly taken money from someone with which there is a professional relationship. Workers who take money from their employers may be accused of embezzlement.

All of these white collar crimes can lead to serious penalties, up to and including jail time. Without the assistance of an experienced legal team, defendants may find themselves facing significant consequences. Defendants who are accused of white collar crime deserve to have their legal rights protected in court by an experienced team of professionals.

Source: FindLaw, “White Collar Crime” Sep. 09, 2014

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