White collar criminal charges are no laughing matter and should be treated seriously because of the significant penalties and consequences accused individuals charged with them can face. Accused individuals should be familiar with the types of charges that are considered white collar crimes and what they can do about them if facing them.
White collar crimes are a category of crimes that typically refers to some type of fraud crime. Fraud crimes commonly use deception for personal enrichment or personal gain, usually monetary gain. Two big categories of white collar crimes are securities fraud and embezzlement.
Securities fraud is a type of white collar crime that involves an insider to a company, usually an employee, using inside information about the company that is not available to the public to make investment trades. Typically, the insider obtains the information they are acting upon because of their position in the company and it is illegal for them to make investment trades based on that information.
Embezzlement is a type of white collar crime that involves the misappropriation of another party’s money or property such as an employee misappropriating the money of the business they work for. Embezzlement occurs when an individual, usually an employee, is rightfully in possession of, for example, the employer’s money but uses it for their own purposes, which is illegal.
Other examples of white collar crimes include bribery, extortion, tax fraud, wire fraud, perjury, forgery, insurance fraud, ponzi schemes and some others. White collar crimes can result in incarceration, fines and serious personal and professional consequences which is why accused individuals should be familiar with the criminal defense options available to them.