You have heard someone discuss a white collar crime being committed, but do you know what a white collar crime actually is? When someone talks about a white collar crime, that person is discussing a general term that consists of a variety of crimes. A white collar crime is not a violent crime, but these crimes are generally motivated by money.
White collar crimes often consist of many lies and deceit in order to fulfill a purpose. Who is most capable of committing a white collar crime? Those involved in a business environment or a government environment are the common culprits in a white collar crime case. Those who commit white collar crimes will usually find themselves facing jail time, probation, paying fines, and sometimes they have to perform service in their communities.
Many people think that white collar crimes are not a big deal because no one is committing a violent act, but white collar crimes are very serious. There are many laws against white collar crimes, on the state level and the federal level. What does this mean? This mean you can be tried for a federal crime and a state crime.
What Type Of White Collar Crimes Are Usually Committed?
When we think about white collar crimes, we usually think about someone who has attempted or tried to attempt a type of fraud. Fraud is usually committed in order to deceive for financial purposes. There are many white collar crimes committed in Minnesota, and we have included some of those white collar crimes below.
Common White Collar Crime 1: Embezzlement
When someone attempts to embezzle someone, they are attempting to steal money from the company they work for. This typically occurs when the person obtains money from the workplace and transfers the money to themselves, usually into an account.
Common White Collar Crime 2: Money Laundering
When someone in a business or when the entire business tries to hide money that has not been obtained legally, this is known as money laundering. In order for someone to launder money, someone has to deposit the illegally obtained money into a bank account. This illegal money will be separated from the source it was illegally obtained. After the separation, the money is then combined with money that was actually obtained legally.
Common White Collar Crime 3: Tax Evasion
When anyone attempts to get away from paying taxes that are a requirement, that person can be handed a tax evasion charge. Someone can even be charged with tax evasion if they do not put the correct information on their tax documents. An entire business and an individual can all be guilty of a tax evasion crime.
It is not easy to determine the penalty one can face after committing a white collar crime because the penalties will depend on what was stolen. One’s criminal record will also play a part in the penalty that will be handed down to you. If you take a substantial amount, you should expect to spend a substantial amount of time in prison. You should also expect to pay a high fine.
Yes, white collar crimes are nonviolent crimes, but they are serious crimes. Many people do not think they are doing anything too serious when they commit white collar crimes. If you ever find yourself being charged with a white collar crime in Minnesota or if you are informed that you are being investigated, you should not wait to contact a Minnesota lawyer. You should contact a Minnesota white collar crime lawyer as soon as possible. Contact us today for more information or to schedule a consultation.
Disclaimer: The content of this article does not constitute an attorney-client relationship. Please contact Jennifer Speas to discuss the specifics of your case. Please read our disclaimer.