Being charged with a white collar crime could lead to serious repercussions. The federal government takes white collar crime very seriously, and the FBI is mostly involved in the investigations. These strict measures as used to make sure public officers are not involved in white collar crimes.
White collar crimes can be classified into several categories. Some common types include:
- Money laundering: it is the process through which criminals are able to disguise their illegal proceeds as earnings from a legitimate source. Criminals accumulate wealth and evade taxes by converting the dirty money into clean money.
- Insurance fraud: it is the attempt to obtain proceeds from an insurance company through deception and fraud.
- Securities fraud: as more people invest in the U.S. securities and commodities markets, the risk of fraudulent activity taking place also increases. Securities and commodities fraud include advance fee fraud, promissory note fraud, broker embezzlement and Ponzi schemes.
- Bribery: Accepting anything of value in exchange for influence or power. Bribes are not always in the form of cash. They could be in the form of gifts or other tangible things.
- Insider trading: Sharing of inside information regarding the finances of a particular company. This information could be used to buy or sell certain shares to make money illegally.
If you have been charged with any of the above white collar crimes, it is advisable to contact an experienced defense attorney. This is a path that you may not want to go alone one. The attorney will oversee the proceedings and might be able to get you exonerated.