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What are White Collar Crimes?

White collar crimes refer to non-violent schemes involving fraud and deception. These crimes are often committed by business professionals in an attempt to gain a personal or business advantage. White-collar crime was first coined in 1939 and defined as a crime committed by a person of respectability and high social status. White-collar workers historically held non-laboring office positions. While these crimes do not cause any physical harm, they do cause immense emotional and financial damage to victims and their families.

Examples of White Collar Crimes

White-collar crimes include the following:

  • This involves deception or misrepresentation for financial gain. There are various types. For example, insurance fraud involves filing false claims for insurance benefits. Credit card fraud refers to the unauthorized use of credit card information for financial gain. Mortgage fraud involves providing false information to obtain a mortgage loan. Tax fraud refers to falsifying tax returns or underreporting income.
  • Embezzlement. This refers to the theft or misappropriation of funds or assets. This can involve diverting company funds for personal use or stealing money or assets from an employer.
  • Money laundering. This involves concealing the origins of illegally obtained money, typically by channeling it through legitimate businesses or financial institutions.
  • Forgery. This refers to falsifying documents or signatures with the intent to deceive or defraud.
  • Bribery and corruption. This involves offering, giving, receiving, or soliciting something of value to influence the actions of someone in a position of authority or trust.
  • Identity theft. This means using someone else's personal information without their consent for financial gain, such as opening fraudulent bank accounts or making unauthorized purchases.
  • These are criminal activities conducted through the use of computers or the internet, such as hacking, phishing, or spreading malware for financial gain.
  • Intellectual property theft. This is unauthorized use, reproduction, or distribution of copyrighted material, trademarks, trade secrets, or patents for financial gain.

Penalties for White Collar Crimes

If you are convicted of a white-collar crime, you could face significant penalties that negatively impact your life in many ways. White collar crimes can be charged as either misdemeanors or felonies, depending on the crime.

For example, identity fraud is a felony punishable by a fine of up to $100,000 and 10 years in prison. Embezzlement is punishable by a fine of $1,000 and 12 months in prison when charged as a misdemeanor, and up to 10 years in prison when charged as a felony. Money laundering is often prosecuted at the federal level. Penalties include up to 20 years in prison.

Contact an Atlanta White Collar Crimes Defense Lawyer Today

White collar crimes may not be violent, but they are often federal crimes that come with stiff penalties. If you are facing accusations, you need a solid defense.

The criminal defense lawyers at Ghanayem & Rayasam in Georgia work aggressively in these cases. In many cases, we have been successful in getting the charges dismissed and even preventing the charges from being brought in the first place. See how we can help you. Schedule a consultation by calling (404) 561-0202 or filling out the online form.