Types of White Collar Crime
White collar crime may fall into several categories.
Money laundering refers to the process of making money obtained from illicit enterprises like drug dealing, extortion or fraud and making it appear to come from legitimate sources. This may involve involves creating a series of financial transactions in order to obscure the original source of the funds. Traditionally, money laundering involved the use of cash; however, in recent years, other forms of financial exchange like precious metals, gems, art, real estate, etc., are used to launder dirty money. Closely related to traditional money laundering are offenses that arise under the Bank Secrecy Act which contains currency transaction reporting requirements. Basically, whenever an individual engages in a cash transactions of $10,000 or more. “Structuring” is a crime that involving braking $10,000 cash deposits into smaller amounts and depositing them on different days to avoid the reporting requirements. “Smurfing” involves breaking $10,000 cash deposits and breaking them into smaller amounts, to be deposited in separate banks, in order to avoid currency reporting requirements.
Cyber crimes under statues like the Computer Fraud and Abuse Act which prevents anyone from entering a protected computer system, damaging a protected computer system, altering the information is any computer system. Another common cyber-crime is Identity Theft, a law under both state and federal law, involves the unauthorized use of another person’s computer credentials, government identification or other form of identity for the purpose of either financial gain to the perpetrator or financial loss to the victim. Cyber crime also includes all form of fraud, thefts, extortions, child pornography and any other crimes committed through the use of a computer.
Thefts of intellectual property under the Economic Espionage Act as well as criminal violations of patent, trademark and copyright statutes. These statutes contain both civil as well as criminal causes of action. Trade secrets are an extremely valuable form of intangible property and is becoming a more frequent target of both domestic and international actors.
Corruption offenses such as bribery and extortion (prosecuted under the Mail Fraud and Wire Fraud Statutes federally) are an ever-present form of while collar crimes. The Foreign Corrupt Practices Act also prohibits U.S. citizens and businesses from bribing or providing other forms of renumeration, either directly or indirectly, to foreign officials.
Fraud refers to the presentation of false information to deceive another person and gain something of value. There are several different types of fraud:
Medicare and Medicaid Fraud
At Dennis Boyle, Attorney at Law, one of our focuses is securities fraud. This type of fraud involves investments and includes situations such as insider trading or false reporting. We also have experience handling international investment cases.
Our defense attorneys are skilled at handling complex cases. We can help you protect your rights during this difficult situation.
White collar crimes can have a deep impact on people's lives. The legal ramifications usually depend on each situation. People may either face misdemeanor or felony charges, and a conviction may include incarceration, probation, and hefty fines.
Even without a conviction, people may experience consequences. The government may require people to forfeit their property or pay restitution. Additionally, people might be detained in their homes. In some situations, the government may sanction a company. Our defense attorneys know that white collar crime charges can harm your personal reputation, as well as a company's standing. A conviction may be even more damaging. We are committed to helping you keep your reputation throughout the process and finding a good solution.
What Happens During a White Collar Crime Case?
A white collar crime case usually begins with an investigation. Officials may get a subpoena so they can go through a person's or a company's financial records. In some situations, officials may also get a search warrant and investigate a person's home or the company premises. Frequently, they will identify and interview employees, co-workers, vendors, customers, clients, etc. Normally, a grand jury will subpoena records, hear testimony and ultimately issue an Indictment.
The earlier an experienced white collar attorney is retained, the better the chances for a successful defense or a more favorable sentence. The defense attorney needs to be able to conduct an investigation in order to protect the target of an investigation. In most instances, cases are won or lost in the investigative phase,
These cases may involve many different federal agencies. There may be personnel from the Federal Bureau of Investigation, the Securities and Exchange Commission and Internal Revenue Service, and various Inspector General’s Offices depending on the nature of the allegations.
Our lawyers know that the details of a white collar crime case may be confusing for many people, especially if this is their first encounter with the law. At Dennis Boyle, Attorney at Law, we can help you understand every aspect of your case and advise you about the actions you need to take.