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The Five Most Common White Collar Crimes in the US

By March 18, 2019 No Comments

You may have pictured white collar crimes as normally restricted to wealthy citizens who got caught with their hands in the cookie car—and white collar prisons as gated country clubs; however, if you or someone you know has been accused of, or convicted, of a white collar crime, you may have been surprised to find out that actions like forgery and identity theft fit into this category. And as the FBI points out, white-collar crimes ‘have become more sophisticated than ever.’

Today, the most typical white color crimes include:

  1. Embezzlement – this is one of the most commonly depicted types of crimes, often sensationalized in TV and movies as rich CEOs or business partners skim untold millions out of a business, leaving innocent investors and shareholders in the cold. The bottom line is that this is theft—in the form of misappropriation of funds.
  2. Money laundering – most often connected with avoiding paying taxes or raising red flags regarding criminal activity, money laundering schemes involve hiding behind other legitimate businesses and depositing money into banks that are often overseas or ‘offshore.’
  3. Insurance fraud – individuals seeking to fool insurance companies usually have a challenge on their hands considering stringent protocol regarding fraud, and investigation teams that are well-trained; however, this type of fraud can vary widely from those who stage auto accidents to deliberately cause damage to cash in on homeowner’s claims, and far more.
  4. Ponzi schemes – made extremely famous by Bernie Madoff, this type of fraud—much like a pyramid scheme—involves fooling new investors into handing over their money which is then used to pay initial investors. Those investing are usually bamboozled with promises of extraordinarily high returns.
  5. Tax evasion – while many high-profile individuals have been convicted of tax evasion in past decades, and have served time, this is one of the most common ways to end up in financial and legal trouble. You could find yourself in hot water for not reporting enough income, taking deductions you weren’t owed, claiming dependents that are not yours, not filing tax returns at all, or not paying. The IRS is serious business as you are probably aware and avoiding or ignoring taxes can lead to serious consequences.

If you need legal assistance with a criminal matter, please call the Dolan Law Offices now. We will listen carefully to your concerns, review your case, and offer advice based on many years of experience. John Patrick Dolan understands California’s complex criminal defense laws including white collar crimes, DUI, domestic violence, sexual assault charges, and violent & serious felonies. At the Dolan Law Offices, we provide the experience you need to help you fight for your rights and best interests. Call us at (760) 775-3739 or contact us online as soon as possible.

 

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