When people think of crimes, they often think of violent crimes, but there’s another type of crime that can sometimes occur. White collar crimes are ones that primarily involve financial matters. While these may not cause physical injuries, they can cause significant financial damages for the victims of these crimes.
There are many different kinds of white collar crimes that can occur. These are often intricate crimes that are often well concealed. Because of that, it’s often possible that a person who is innocent will be accused of one of these crimes.
Money laundering
Money laundering occurs when a person takes money earned illegally and tries to make it appear legal. This is done by “cleaning” the money in a variety of ways. The person may deposit small amounts of money into bank accounts so the money appears legit. Some may funnel the money through events or business fronts to make it appear that they were legally obtained.
Embezzlement
Embezzlement is another white collar crime that’s one of the more common. This occurs when a person in a position of trust funnels money or assets that weren’t theirs to take. It can happen in a variety of ways, such as failing to record cash transactions so they can keep the money, creating fraudulent vendor accounts to transfer money to or taking money out of the petty cash drawer.
Insider trading
Insider trading is a type of securities fraud that involves someone using information that hasn’t been publicly disclosed to make decisions about buying or selling stocks for the company. Information must be made public before actions are taken so all shareholders have the same opportunity to make informed decisions. Martha Stewart was convicted of this crime because of her activities with ImClone Systems.
All of these white collar crimes can involve intricate paper trails and other evidence. Being able to sort through everything can be challenging. Because of this, defendants may benefit from working with someone who can assist them with their defense strategy. Given all that is at stake in such criminal cases, making this effort is generally wise.
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