Common myths about white-collar crime

The Federal Bureau of Investigations defines white-collar crime as a range of frauds committed by a section of the population, particularly businesses and government officials. It is usually non-violent, yet criminal in nature and involves money; either someone trying to get more of it or trying to hide what they have so it goes unreported.

White-collar crimes are not “real” crimes

This is a common misconception, and it is untrue. Law enforcement agencies work together to aggressively pursues white-collar criminals.

White-collar criminals do not go to jail

This is another mistaken belief. Do you remember the time Martha Stewart went to prison for insider trading? That was a white-collar crime. It is also essential to know that about 70% of people convicted of a white-collar crime end up serving jail time.

Any criminal defense lawyer can defend me against these charges

Incorrect. White-collar crime is its own specialty, and defending charges of this type requires a hefty, strategic defense. It is critically important for your counsel to be well-versed in this specialty, ideally experienced and for them to have the resources needed to support your defense.

Law enforcement only charges and convicts CEOs who commit this type of crime

This myth is also untrue. Most people associate white-collar crime with executives from companies on Wall street. However, the reality is that even charity organizers or small business owners can be charged and convicted of a white-collar crime.

It is not the person that determines whether it is a white-collar crime, but the actions that that person engaged in, the criminal act that the individual committed.

White-collar crimes are the subject of misconceptions and myths because of what people have seen about white-collar crime and white-collar criminals in the media. However, it is a profoundly serious type of crime that requires a serious defense team.