Fraud and White Collar Crimes

<p>White collar crime is a loose category of criminal conduct that typically involves the exercise of some deceit for financial gain. There are usually no physical confrontations, nor do such crimes happen in the dead of night. White collar crimes are complex, and consequently, accusations of white collar crime can be mislaid where a complex set of data appears to tell a tale of crime where no such crime was committed.</p><p>Typically, charges involving fraud, embezzlement, money laundering, or tax evasion fall under the ambit of white collar crime. Although white collar crimes do not entail the salacious and overt indicia of violent crime, criminal convictions for white collar crime can result in prison time and significant fines. A conviction can also permanently ruin a person's reputation, destroy his or her business, and harm their personal relationships.</p><p>An individual may commit fraud where he or she takes deliberate action to obtain property through the exercise of dishonest behavior. One cannot commit fraud by accident. A perpetrator must act with the specific intent to cheat the subject of a scheme. For instance, selling someone a fake diamond ring is not criminally fraudulent if the seller does not know the diamond is not real. In order to be convicted of fraud, the seller must act with the intent to deceive the buyer into believing the diamond is real.</p><p>Embezzlement is similar to fraud, as it involves the wrongful taking of another’s property through deception. However, embezzlement requires the property arrives in the hands of the perpetrator willingly and as a matter of trust. Frequently, embezzlement occurs where an employer gives an employee possession and/or control over some asset, and the employee intentionally takes control over that property as his own. For example, if a financial planner is given a retiree’s cash assets with the understanding the planner is going to invest the money for the benefit of the retiree, and then the financial planner decides to run away to Mexico with his paramour, the planner would have committed embezzlement.</p><p>Money laundering is the process of intentionally disguising the origin of money through a series of transactions and transfers. Typically, large sums of money are laundered where the funds were obtained through elicit conduct—such as drug dealing—and the holder of those funds wants to be able to use them in lawful commerce.</p><p>These types of crime require a different defense approach than traditional criminal defense work. As the matters tend to involve complex financial documentation, having a business literate defense team is important. If you are being investigated or have been charged with a white collar crime, call the experienced attorneys at Neumann Law Group for a <a href="contact-us.html">free consultation</a>.</p>