A look at white collar crime punishment and how an attorney can help you
White collar crime is often assumed to be less serious than other forms of criminal acts. However, in most cases, crimes that are considered to be “white collar” have serious consequences if found guilty. White collar crime punishment can be as severe, if not more, than other criminal misdemeanors. In this article, we’ll provide an overview of the crimes that are considered white collar and the possible penalties associated with a guilty verdict.
If you believe you are being investigated for a white collar crime, or are already facing criminal charges, do not hesitate and call the attorneys at Murphy & Rudolf, LLP immediately for a free consultation: 508-762-1397. Our team is dedicated to protecting your assets and reputation against white collar criminal charges.
What is a white collar crime?
The term “white collar” was first used by the writer, Upton Sinclair, in the 1930s as a way to refer to the men who worked in salaried positions — often having to conform with dress codes and wear white collars. This evolved into referring to financial crimes as “white collar crimes.”
White collar crimes refer to crimes “that are designed to produce financial gain using some form of deception.” This can include insurance fraud, tax evasion, insider trading, racketeering, insurance fraud, money laundering, bribery, embezzlement, computer-related crimes like phishing, and public corruption. So when we’re discussing white collar crime punishment, we’re looking at the penalties associated with financial fraud wrongdoing.
Regardless of the context, financial fraud is taken very seriously both on state and federal levels. The possible white collar crime punishment or penalty can be quite severe so it’s really important to find legal representation that can thoroughly defend you.
What is the potential white collar crime punishment?
Part of why white cola crime is considered serious is because, “[a]ccording to the Federal Bureau of Investigation (FBI), white-collar crime is estimated to cost the United States more than $300 billion annually.”
It’s truly impossible to know what penalties you may face without discussing the specifics of your case with an attorney. White collar crime can vary in how it is prosecuted and charged. You can face either misdemeanor or felony charges. White collar crime punishment will greatly depend on the context, and how the defendant, if found guilty, takes responsibility for the crime. However, some common white collar crime penalties include home detention, severe fines, imprisonment, and/or forfeiture of assets.
If you are in Massachusetts in the Worcester County area, Murphy & Rudolf’s experienced and thorough attorneys can help you.
So how can an attorney help?
Though white collar crimes are handled as criminal charges, attorneys work on financial cases much like they would a civil case. This means that it requires a lot of internal and external investigation, drafting legal documents, factual developments, and arguments. This type of legal work requires senior and/or extensive experience.
Our attorneys have defended individuals and corporations in state cases prosecuted by the State Attorney General’s Office, as well as by the United States Attorney’s Office. If an indictment is unavoidable, we can defend you in court and fight to minimize the potential white collar crime punishment issued by the Court.