What Is A White Collar Crime?
White collar crimes are a large category of offenses that focus on financial fraud and deceit. These crimes can be related to a variety of financial crimes, including scams, fraud and tax evasion. This page will cover a few common white collar crimes.
Because these crimes are complex, it is critical that you speak with a knowledgeable attorney to figure out if a person’s actions qualify as a white collar crime. At The Law Office of Michael Austin Stewart, we offer free consultations with an experienced criminal defense attorney. You can call our South Tacoma office at 253-948-3586 to schedule your free consultation.
Common White Collar Criminal Charges
A variety of criminal actions related to financial fraud and manipulation fall into the grouping of white collar crimes. Here are just a few of the common white collar criminal charges:
- Securities fraud: This type of fraud involves a person using deceptive practices, false information or confidential information to manipulate investors into making a purchase or sale for his or her own financial gain. Insider training is one common type of securities fraud that involves a person buying or selling stocks based on confidential information that is not publicly known.
- Insurance fraud: Insurance fraud is the act of making false statements to obtain compensation for injuries or damage that was not actually suffered. This type of fraud also includes faking or staging an accident or injury to obtain compensation.
- Embezzlement: Embezzlement involves a person stealing money from someone who they owe a duty to. For example, a trustee commits embezzlement if they take money from the trust that they manage for their own personal gain.
- Tax evasion: A person commits tax evasion if they do not pay their taxes or hide their actual earnings to avoid their tax obligations. This white collar crime also includes filling out tax forms with false information and transferring property to other parties illegally to avoid taxes.
- Money laundering: Money laundering is the act of “cleaning” money obtained from illegal sources. For example, if a criminal enterprise mixes their illicitly obtained money with money obtained from a legitimate source, then it is more difficult to track the source of the money.