White Collar Crimes Lawyers
Most people associate crime with acts of violence, but there are actually many types of criminal behavior that happen without physically threatening anyone. Though these types of crimes might seem victimless, the reality is that they are very serious. Since white collar crime can lead to major fines and jail time, it is important to understand what it is and how penalties for it work.
What Is White Collar Crime?
White collar crime is a little unusual because it does not have a strict legal definition. Unlike crimes like burglary or murder, white collar crime is not a specific type of criminal action. Instead, it is a broad category of criminal activity. Any sort of crime that is non-violent and focused on financial gain may count as a white collar crime.
Typically, white collar crime is only a crime that happens in some sort of commercial situation. Nonviolent crimes, like using an unlocked door to steal a person’s television, do not count as white collar crime. Instead, white collar crimes involve places of business and financial transactions. It most often occurs in offices, businesses, and corporations. This type of crime is mostly associated with activities like embezzlement and fraud. It often happens in industries like banking, investing, stock trading, and real estate.
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(212) 300-5196Examples of White Collar Crime
Since white collar crime is such a broad category, it can be tricky to understand what counts as white collar crime. Taking a look at some examples can help you figure out how white collar criminal charges work.
Todd Spodek
Lead Attorney & Founder
Featured on Netflix's "Inventing Anna," Todd Spodek brings decades of high-stakes criminal defense experience. His aggressive approach has secured dismissals and acquittals in cases others deemed unwinnable.
You are a mid-level accountant at a large corporation and discover that your supervisor has been inflating revenue figures in quarterly reports submitted to the SEC. When you raised concerns internally, your supervisor told you to stay quiet and implied that your involvement in preparing the reports could make you equally liable.
Could I actually face criminal charges for white collar crimes even though I wasn't the one who orchestrated the fraud?
Under federal law, individuals who knowingly participate in or facilitate fraudulent schemes can be charged under statutes like 18 U.S.C. § 1348 (securities fraud) or 18 U.S.C. § 1349 (conspiracy to commit fraud), even if they were not the primary architect of the scheme. Prosecutors often pursue charges against employees at multiple levels, and penalties can include up to 20 years in prison and substantial fines. However, your willingness to report the misconduct and your level of knowledge at the time are critical factors that a skilled defense attorney can use to protect you. You should immediately consult with a white collar crimes lawyer who can advise you on potential whistleblower protections under Dodd-Frank and help ensure you are not unfairly swept into criminal liability for someone else's scheme.
This is general information only. Contact us for advice specific to your situation.
Corporate Fraud
The most common example of white collar crime is corporate fraud. Corporate fraud happens whenever a company uses false information to deceive their investors or auditors. This can encompass a variety of activities, such as misleading investors, embezzling money, insider trading, using corporate property for personal use, or misrepresenting profit.
