White Collar

The most significant difference between how white collar crimes and other criminal offenses are investigated is related to the time it can take for an arrest to be made. Many times, white collar crimes are investigated by federal agencies like the Federal Bureau of Investigation (FBI), the U.S. Securities and Exchange Commission (SEC), and the National Association of Securities Dealers (NASD). Complex white collar crimes can take months or years before a single arrest is made, and frequently subjects of these investigations are not even aware they are being surveilled.

Like other criminal cases, penalties for white collar crimes will vary based on state and federal laws but commonly result in hefty fines and jail or prison time, depending on the conviction. While history shows a disparity between how white collar crimes such as embezzlement cases are prosecuted and how other traditionally violent crimes are prosecuted, judges and courts have recently attempted to go after these defendants more, imposing harsher penalties. Often the penalties are commensurate with the amount of the loss or conduct, such as the length of time the crime took place, how many people were affected, or if the defendant was in a position of trust.

Coined in 1939 by Edwin Hardin Sutherland, the term “white collar crime” was thought to be a crime committed by a person in a respectable position in society with a high social status based on their occupation. Today, white collar crime has become synonymous with the full range of fraud committed by business and government professionals and is generally non-violent. Because white collar crimes can go undetected for years and are usually difficult to track, many of the accused can profit off illegal activities for significant periods without being caught.

Among the most common types of white collar crimes are bank fraud, embezzlement, and cybercrime.

Bank Fraud—Bank fraud is usually committed with the intent of financial gain. For bank fraud to occur, there must be intentional deception, pretense, or use of false information to steal from a bank, financial institution, or bank depositors.

Embezzlement—When a person, typically the employee of an organization, is in a position of authority where they have access to corporate funds, corporate credit cards, or property and uses their authority to steal from an organization purposefully, it is considered a case of embezzlement. Common examples of embezzlement can be seen through politicians and campaign officials misappropriating campaign funds to cover personal expenses or through an employee endorsing client checks and keeping the cash for themselves.

Cybercrime—With the increase in modern-day internet access, it is no surprise that cybercrime is one of the most common types of white collar crimes. Because cybercrime encompasses such a wide variety of offenses, including crimes against people, crimes against property, and crimes against the government, each offense has its own punishment and penalties depending on the circumstances.

If you have been falsely accused of committing a white collar crime, we encourage you to contact the McConnell Law Firm white collar crime attorneys as soon as possible. Because judges and courts have recently attempted to crack down on these cases and go after these defendants more, it is important to seek the help of an experienced law firm to ensure your reputation, business, and rights are protected.