Business

An Overview of Business White Collar Crimes

The term “White Collar Crime” was coined in 1939. These days, it is now used as a synonym for the frauds caused by both individuals and businesses. However, sometimes, both individuals and business organizations are wrongly framed in white collar crimes. Such allegation comes with a heavy price. A convicted person may face imprisonment. A business entity cannot be put behind the bars but its license may be suspended or revoked and it can face loss of clients, sales and reputation. The owner may even be prevened from doing business in particular areas.

If you or your business faces such an allegation, get in touch with a Tad Nelson criminal lawyer without any delay.

Business

A business organization operates through its owner or Board of Directors. Sometimes criminal investigations may result into charges filed against the organization or individual held responsible for violation of law.

Individual

A person can be convicted of white collar crime either individually or in regards to his/her employment. A chargesheet is filed against a person only if he willingly defies law or commits any of the following frauds:

  • Bank Fraud
  • Mail or Wire Fraud
  • Health Care Fraud
  • Securities Fraud
  • Tax Fraud
  • Other business, corporate or business fraud

Motivation for White Collar Crimes

The white collar crimes are categorized under different heads such as deceit, violation of trust, concealment and don’t depend on threat or application of violence. The motivation behind the white collar crimes is purely financial. The convicted person commits the frauds to avoid loss of money or property, receive funds or secure an advantage as an individual or for a business entity.

Consequences

These crimes may sound not so harmful but in essence, victimize others. For example, a single scam can force a company to wind up its business, financially ruin families by amassing the life savings, cost investors a fortune or cause all of the aforementioned three. In today’s scenario, the white collar crimes look more complex than what these were a few decades ago.

How an Attorney Can Offer Help

If an allegation of white collar crime is brought against you or your company, an experienced criminal attorney will explore his skill to track down the real culprit and end the scam before it results into dire consequences.

A criminal defense lawyer, who agrees to represent your company, is fully committed to the business entity. The person will exploit his knowledge and years’ of experience to investigate the criminal activities with the sole intention to find out the real wrongdoer so that his client gets off scot-free.

The attorney may need to interview the employees and others associated with the company in one way or another.

Conclusion

White collar crimes have several shades of dark areas. If you are facing such a charge or suspect that your company is likely to face investigation for white collar crimes, never make the mistake of representing yourself or your business. It is the forte of an expert criminal lawyer. Consult with him to find a solid way out of the problem.