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What should you know if charged with a white collar crime?

On Behalf of | Jul 29, 2022 | White-Collar Crimes

Criminal allegations of any kind will have a significant impact on your life. In addition to the potential for spending time behind bars, you could face devastating consequences in your personal and professional life as well. Regardless of the types of charges you are facing or why you are currently under investigation, it is critical to work diligently to protect your rights and interests at every step.

A strong defense strategy is critical to minimizing the damage these charges could have on your life. If accused of white collar crime, you may find it helpful to start with understanding more about this type of criminal activity and how it could impact your life. While financial criminal cases lack an element of violence, a conviction may still result in an extensive prison sentence and other consequences.

What is it?

White collar crime is a criminal action committed with the intent of financial gain. Often, these are criminal operations that involve concealment, deceit or a violation of trust, such as the trust between a Michigan financial investor and his or her client. The obvious motivation for these types of operations is financial gain, but it may also be for the purpose of accessing sensitive and personal information from others, personal gain or for the advantage of business interests. Examples of white collar crime include:

  • Identify theft and mail fraud
  • Mortgage fraud
  • Fraudulent investment opportunities
  • Misrepresentation of a corporation’s finances
  • Ponzi schemes
  • Embezzlement and money laundering.

White collar crimes are typically investigated by certain federal organizations, including the Federal Bureau of Investigation, Securities and Exchange Commission, National Association of Securities Dealers and more. Those these types of crimes are notoriously complex to investigate, it is critical that those under suspicion to act immediately to protect their interests. As financial crimes are federal offenses, the stakes are high for those convicted of any type of white collar crime.

An effective defense to these allegations

Those facing accusations of white collar crimes or currently under investigation by federal authorities would be wise to take immediate steps to secure their legal interests and rights. One critical step is to seek insight regarding the most effective defense strategy for the individual situation. To understand how to best confront the prosecution’s case, it may be helpful to start with an assessment of the specific situation and explanation of the legal options available.