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Federal White-Collar Crimes

The term “white-collar crime” was first coined in 1939 by Edwin Sutherland as a crime committed by an individual with high social status. These days, white-collar crime is synonymous with frauds committed by business professionals or government officials. These crimes do not involve threats or violence but are characterized as deception, coverups, or violation of trust.

White-collar crimes are often considered financial crimes. With that said, these crimes cover a range of offenses, most times dealing with money and property. A single scam can shatter a company, wipe out a family’s life savings, or cost investors billions of dollars. With the continued growth of the internet, white-collar crimes have become more sophisticated than ever.

The FBI is dedicated to tracking down offenders and stop these crimes before they happen. The penalties and punishments can be severe and should be taken seriously. If you have been charged with a white-collar crime, it is recommended you contact an attorney immediately.

Federal Defense Attorney for White Collar Crimes in San Antonio, Texas

Most white-collar crimes are classified as serious felonies. There is a strong potential for prison time if the crime is tried in federal jurisdiction. Federal investigations are very complex and can last more than a year. In several cases, plea agreements are reached before an arrest is ever made.

If you have been accused of a white-collar crime, contact the experienced defense attorneys at Goldstein & Orr. White-collar crimes are complicated, but our attorneys have the knowledge and understanding to fight for your case. Goldstein & Orr represent clients in San Antonio and throughout Texas. Call (210) 226-1463 to schedule your free consultation.

Information Overview of White-Collar Crimes:

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What is White-Collar Crime?

White-collar crimes are crimes committed for financial gain. Usually, the motivation for these crimes is to avoid losing money, property, or services. However, these crimes are also sometimes committed to secure a business advantage.  Back when the term was coined, white-collar crimes were often associated with individuals of high social status or the wealthy.

White-collar crimes can be charged at both the state and federal level. Some courts refuse to try these cases because of the extensive investigations that are involved. Though the federal government has the necessary resources for these investigations, many are not tried unless there is speculation that the prosecution has a chance to win the trial. For that reason, minor financial crimes are usually taken to court more so such as writing a bad check than complex economic schemes such as embezzlement.

The FBI focuses on complex white-collar crimes that are regional, national, or international in scope. These special agents work closely with law enforcement and regulatory agencies to target these sophisticated cases.

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Types of White-Collar Crimes

White-collar crimes all share one trait: using deception or deceit to obtain a personal benefit whether that’s money, services, or property. There are plenty of different white-collar crimes, including fraud, embezzlement, corporate fraud, internet fraud, and money laundering.

Below are descriptions of the more common white-collar crimes:

Corporate Fraud – Corporate fraud is one of the FBI’s highest criminal priorities. Additionally, corporate fraud can cause a significant financial loss to investors. In most cases, corporate fraud has the potential to cause damage to the economy. Most corporate fraud cases that involve the FBI include schemes intended to deceive investors, auditors, and analysts.

Money Laundering – Money laundering is the process of taking cash earned from illegal activities, such as drug trafficking. It usually involves funneling cash through several accounts into a legitimate business. From there, it becomes combined with genuine revenues of the legitimate business, making it unidentifiable as originally coming from the commission of a crime.

Cybercrimes – Cybercrimes usually involve identity theft and have become more common with the growth of the internet. Identity theft and hacking are the two most common cybercrimes. The advancement of technology and the internet has made cybercrimes more prevalent around the world. Cybercrimes were not even mainstream 30 years ago but have grown immensely over the years.

Counterfeiting – Have you wondered why money has become more colorful over the years? It’s because of counterfeiting crimes. As mentioned earlier, regarding technology constantly improving, individuals were able to recreate old currency with ease. The government is working relentlessly to stop the efforts of counterfeiters, but with the continued advancement of technology, individuals are finding new ways to recreate currency.

Embezzlement – Embezzlement involves stealing by an individual who has access to another individual assets or money but no legal ownership. A good example is an employee taking money from a cash drawer. A more complex example is an employee stealing millions from a company’s accounts.

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Federal Penalties and Regulations for White Collar Crimes

According to the FBI, white-collar crimes cost the U.S more than $300 billion annually. Though the government usually charges individuals with white-collar crimes, they also sanction corporations. The penalties for white-collar crimes include fines, imprisonment, community confinement, forfeitures, restitution, and home detention. Federal sentencing guidelines suggest lengthy prison sentences whenever at least one victim has suffered substantial harm. Punishments can be reduced if the defendant takes responsibility for the crime and assists the authorities in their investigation.

The state and federal legislation detail the activities that constitute white-collar criminal offenses. The Commerce Clause of the U.S. Constitution gives the federal government the authority to regulate white-collar crime. Several federal agencies including, the FBI, IRS, and SEC, take part in the enforcement of federal white-collar crime legislation. Additionally, most states utilize their agencies to enforce white-collar crime laws.

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Additional Resources

White-Collar Crimes – The official FBI website has information on white-collar crimes and the various types of crimes that fall under them. Learn about the different types of white-collar crimes and the penalties that come with them.

White-Collar Crime Blogs – Visit White Collar Crime Blog for information about White Collar Crime. Read about a variety of content regarding white-collar crimes.

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Lawyer for Federal White-Collar Crimes in San Antonio, Texas

If you have been accused of a federal white-collar crime, make sure to contact an experienced attorney for your case. The knowledgeable criminal defense attorneys here at Goldstein & Orr can help build a formidable defense for you. 

Goldstein & Orr represent clients in San Antonio and throughout the greater Bexar County area including, Terrell Hills, Selma, Shavano Park, Windcrest, and Alamo Heights. Call (210) 226-1463 to speak to our attorneys at Goldstein & Orr and to set up a free consultation.

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