White-Collar Crime Attorney: Common Types of White-Collar Crimes and Their Penalties

What Does a White-Collar Crime Attorney Do?

A white-collar crime attorney defends individuals charged with non-violent offenses involving finances, business, or government operations. These offenses, known as “white collar crimes,” typically occur in professional or office settings. An attorney in this field understands the laws involved and actively works to defend your rights throughout the legal process.

How Can a White-Collar Crime Attorney Help?

A white-collar crime attorney explains your charges and rights, investigates your case, negotiates with prosecutors, represents you in court, and works to reduce or dismiss charges.

Common Types of White-Collar Crimes

White-collar crimes come in many forms. Here are some of the most common types of white-collar crime that an attorney handles:

Fraud

Fraud involves intentionally deceiving someone to gain money or something valuable. It comes in various forms, such as:

• Insurance fraud: Misrepresenting information to receive insurance payouts.
• Mortgage fraud: Submitting false details to secure a loan.
• Healthcare fraud: Charging for medical services that weren’t provided.
• Credit card fraud: Using another person’s credit card without authorization.

Embezzlement

Embezzlement occurs when a person entrusted with money or property misuses it for personal gain. For instance, an employee who transfers company funds into a personal account commits embezzlement.

Insider Trading

Insider trading involves using confidential company information to trade stocks before the public has access to it, creating an unfair market advantage. Both the person who shares the insider information and the one who uses it for trading can face prosecution.

Bribery

Bribery means offering, giving, or receiving something valuable to influence someone’s actions. For example, paying a government official to get a contract or special treatment is bribery.

Money Laundering

Money laundering involves disguising the source of money, especially when it comes from illegal activities. Individuals often move funds through multiple accounts or transactions to make the money appear legitimate.

Tax Evasion

Tax evasion is when someone tries to illegally avoid paying taxes by lying on their tax forms or hiding money from the government.

Identity Theft

Identity theft is using someone else’s personal information, like their Social Security number, to steal money or commit other crimes.

Forgery

Forgery involves creating or altering legal or financial documents to deceive others for personal or financial gain. Common examples include signing someone else’s name on a check or producing a fake ID.

Ponzi Schemes

Ponzi schemes promise returns to earlier investors using funds from new participants rather than generating legitimate profits. These setups eventually fail when new investments stop coming in.

Cybercrime

Cybercrime involves using computers or the internet to commit crimes, like hacking into accounts or stealing personal information.

Counterfeiting

Counterfeiting involves producing fake money, documents, or goods to deceive others and gain financially. This crime undermines trust in financial systems and can lead to serious legal consequences.

Welfare Fraud

Welfare fraud occurs when someone provides false information or conceals facts to receive government benefits they are not entitled to. This misuse of public funds harms social programs and is punishable by law.

How Are White-Collar Crimes Investigated?

State and federal agencies actively investigate white-collar crimes, which often involve reviewing large volumes of documents, emails, and financial records. These investigations may take time due to their complexity. Investigators typically:

• Review bank statements and business records
• Interview witnesses and employees
• Use search warrants to gather evidence
• Subpoena documents from companies

An experienced defense attorney plays a key role in protecting your rights and guiding you through every stage of the investigation.

Penalties for White-Collar Crimes

Penalties for white-collar crimes vary depending on the type of offense, the amount of money involved, and whether the case is prosecuted at the state or federal level. Federal cases often carry harsher consequences, including longer prison terms and higher fines, due to stricter sentencing guidelines. A white-collar crime attorney can help you understand the potential outcomes, explore your legal options, and build a strategy tailored to your situation.

Common Penalties Include:

1. Prison or jail time
2. Large fines
3. Restitution (paying back money to victims’ losses)
4. Probation
5. Loss of professional licenses
6. Damage to your reputation and career

Federal Penalties

1. Perjury: Up to 5 years in prison
2. Bank fraud: Up to 30 years in prison
3. Securities fraud: Up to 25 years in some cases, but often less depending on the statute
4. Tax evasion: Up to 5 years in prison
5. Money laundering: Up to 20 years in prison

State Penalties (Examples)

• Extortion: Up to 15 years in Florida; 2 to 4 years in California
• Bribery: Up to 15 years in Florida; up to 3 years in California
• Forgery: Up to 5 years in Florida; up to 3 years in California
• Credit card fraud: Up to 5 years in Florida; up to 3 years in California
• Money laundering: Up to 30 years in Florida; up to 4 years in California

Long-Term Repercussions of a White-Collar Crime Conviction

A conviction for a white-collar crime can affect your life even after you finish your sentence. Some long-term outcomes include:

• Trouble finding a job
• Losing professional licenses
• Damaged reputation
• Difficulty getting loans or housing

A white-collar crime attorney works to minimize these consequences and protect your future.

Steps to Take if Accused of a White-Collar Crime

If you are accused of a white-collar crime, take these steps:

1. Stay calm and avoid panic or hiding evidence.
2. Speak to a lawyer before talking to the police, as anything you say may be used against you in court.
3. Contact a white-collar crime attorney promptly to get legal support.
4. Gather all relevant documents and emails that could support your defense.
5. Follow your attorney’s guidance carefully throughout the process.