On behalf of The Law Office of Gregory N. Smith
Understanding the Most Common Types of White Collar Crimes
If you have been accused of white collar crime in Missouri, it goes without saying that you should not delay taking action to form your defense. White collar crimes can come in many different forms, and they not only have legal implications, but they can also ruin a person’s career and reputation in the process.
Preserving your reputation as a respected and trustworthy business person is probably of great importance to you. Before taking action to defend yourself against the white collar crime that you have been accused of, it is a good idea that you understand the most common types of crimes in this category.
Filing taxes can be a complex process, and sometimes honest mistakes are made when filling in forms or registering income. However, if there is a reason to believe that a person has acted intentionally to avoid paying the taxes that they would otherwise owe, they could be charged with criminal tax evasion. It is possible to defend yourself from an accusation such as this by showing that you did not act with intent.
Embezzlement is the act of taking money or misusing it from someone to whom you owe a professional duty. For example, if you are an investment advisor, you have a duty to protect the funds of your clients. Therefore, if you take some of their money for personal use or if you intentionally misuse their funds, you could be accused of embezzlement.
There are many types of white collar fraud. However, one of the most common is securities fraud. An example of securities fraud is when insider trading occurs. For example, if a person has inside information about the future of a company and takes action on their securities as a result, this constitutes a type of securities fraud.
Money laundering is the act of trying to make funds seem like they were legitimately acquired when, in fact, they were gained from an illegal source. Anyone who intentionally aids the process of money laundering can face legal charges, even if they had no involvement with the original crime.
If you are worried about facing legal or social consequences because of activities in which you were involved, do not hesitate to start learning about the law and your particular defense options.