White collar crime is a broad term that covers a vast range of criminal acts that range in severity, but are all motivated by financial gain. Additionally, these acts are typically non-violent and committed through deceitful acts. Despite their generally non-violent nature, white collar crimes can still pack some rather stiff penalties, depending on the circumstances of the crime.
Common White Collar Crimes
Some of the most common types of white collar crimes most of us are familiar with include tax evasion, fraud, money laundering, and embezzlement. Securities fraud is a common type of white collar crime that can come in many forms, such as insider trading, which occurs when an individual with inside information regarding a company makes investment trades based on that information.
Below are other common forms of white collar fraud:
- Insurance fraud, such as business schemes designed to defraud customers
- Bankruptcy fraud
- Ponzi schemes
- Other scams used to fraudulently take money from investors
- Additional white collar crimes include extortion, identity theft, bribery, counterfeiting, forgery, and anti-trust violations.
Penalties for White Collar Crimes
No two white collar crimes are alike, so neither are the penalties. That said, it is not uncommon for these crimes to result in a monetary fine, a prison sentence, or both. In Texas, if you are convicted for a misdemeanor white collar crime, the penalty can range from a fine of up to $4,000 and a maximum one-year prison sentence. If you are convicted of a white color felony offense, you may be fined up to $10,000 and receive a prison sentence that can range from two years to life imprisonment.
Penalties for white collar crimes are based on a variety of elements, including whether the individual has a criminal history, the number of people affected by the criminal act, the type of criminal act that was committed, and the value of the amount involved.
Reach Out to Our Criminal Defense Team for Skilled Legal Representation
If you were charged with a white collar offense, you need to secure the assistance of a knowledgeable legal advocate. At Labovitz Law Firm, our criminal defense team is backed by more than 16 years of experience and a commitment to providing fierce representation for every client who seeks our help.
Call our law office today at (817) 374-4056 to request a free case evaluation with a member of our team.