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White Collar Crimes

The Federal Bureau of Investigation (FBI) describes “white collar crime” as lying, cheating, and stealing. That’s white collar crime in a nutshell, says the FBI.

The term was reportedly coined in 1939, and today it’s synonymous with a vast array of frauds and scams that are commonly committed by “white collar” professionals, as well as those who work for the government.

White collar crimes are non-violent in nature, but they are not victimless. One scam can wipe out a family’s life savings, it can cost investors to lose billions of dollars, and it can ruin a person’s good credit score.

With advances in computer technology, today’s white collar crimes are more sophisticated than ever before, and the FBI, along with other government agencies has agents dedicated to tracking down, identifying and prosecuting scammers before they start.

According to the FBI, white collar crime costs the United States more than $300 billion each year. Although individuals who are caught in the act face a host of penalties, corporations can be sanctioned as well.

The penalties for white collar crimes include hefty fines, forfeitures, restitution, incarceration in state or federal prison, etc. Many different types of frauds and scams are categorized as white collar crime, and here are some common examples:

  • Bribery
  • Embezzlement
  • Bankruptcy fraud
  • Tax evasion
  • Identity theft
  • Telemarketing fraud
  • Money laundering
  • Credit card fraud
  • Healthcare fraud
  • Ponzi schemes
  • Reverse mortgage scams
  • Securities & commodities fraud

Are all white collar crimes federal offenses?

White collar crimes can be criminalized under state or federal law, or both. If the crime violates state and federal legislation, it’s up to the state and federal prosecutors to decide whether to proceed with a state or federal prosecution.

As a general rule, federal crimes involve higher fines and lengthier prison sentences than state-level crimes. So, if your case goes to federal court, the situation is certainly more serious.

If you are facing criminal charges for a white collar crime, an experienced Plano white collar crime defense attorney from The Zendeh Del Law Firm, PLLC can explain which defenses are available.

For an aggressive defense in state or federal court, contact our office today!