Crimes that inflict physical suffering on human beings are often viewed in a more serious light than other crimes. However, other types of criminal action frequently cause severe harm and great emotional distress — particularly white collar crimes.
White collar crimes typically do not involve physically harming another human being, but their consequences can still be devastating. The courts will not look favorably upon people who have damaged the finances of others through this kind of illegal activity.
So, what are the more common white collar crimes? Here are three:
The crime of fraud can take on various forms. Identity fraud, bankruptcy fraud and unemployment fraud are just some of the more common methods. However, fraud essentially boils down to an attempt to defraud another entity of financial assets via illegal means.
The crime of embezzlement relates to the appropriation of another person’s money in an attempt to pass it off as your own. One of the more common examples of embezzlement occurs when an individual convinces an investor to part with money for specific purposes but goes on to use the funds for something completely unrelated.
Tax evasion presents another common form of white-collar crime. Typically, tax evasion involves intentionally underpaying the Government the taxes that you owe them. There are several ways in which this could take place, but quite often the accused will hide or purposely undervalue assets in an attempt to pay fewer taxes. Tax evasion is frequently portrayed as a “victimless crime,” however the courts can impose severe fines and serious jail time on those who are convicted.
Familiarizing yourself with the law on white collar crimes is in your best interests and will help to ensure your legal rights are protected.