White collar crimes are nonviolent crimes committed by business people, entrepreneurs, public officials, and professionals done in the commercial or business realm usually for financial gain. White collar crimes are often prosecuted in federal court. Offenses can be charged as a misdemeanor or felony crime, and can result in prison time, substantial fines, and restitution.
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White collar offenses require a high level of skill and knowledge from an experienced criminal defense attorney. The attorneys at Joffe Law, P.A. have handled complex white collar crime cases both on the state and federal level, and we defend clients against a wide range of white collar charges, including:
1. Money laundering
The crime of money laundering is the willful act of concealing the origins of illegally obtained money by making it appear to have come from a different source. Money laundering charges fall under federal jurisdiction, and so those accused will be prosecuted by the federal government. Most common sources of illegal money are from illegal drug sales, corruption, fraud, and tax evasion. Other crimes, like drug trafficking, mortgage fraud, gambling, conspiracy, wire fraud, and mail fraud, often occur with money laundering. If convicted, you could face a prison sentence of up to 20 years, as well as other serious penalties.
Embezzlement is the theft or misappropriation of funds that one has been entrusted with. Examples of embezzlement include an employee stealing money from a cash register or merchandise from a retail store, or heads of large companies taking large sums of money for their own investments. Federal embezzlement laws focus on theft from the federal government, and sometimes state and federal embezzlement laws overlap. Federal embezzlement charges depend on the type of money or property stolen. Penalties include a long prison sentence and significant fines.
Bribery is the act of offering, giving, receiving or using of money or other valuable items in exchange for a favorable outcome from a public official. Bribery is a serious crime for both parties involved and can result in severe consequences. Bribery involves the intent to influence an official act, or influence a public official to violate his or her duties. If convicted, a bribery charge can result in a prison sentence up to 15 years, a monetary fine up to three times the value of the bribe, or disqualification from holding any public office under the U.S. government.
4. Tax evasion
Tax evasion is when a person or company intentionally underpays taxes. You could be accused for tax evasion if you fail to disclose or underreport income, overestimate or falsify deductions, issue false tax forms to employees, or fail to file an annual tax return, for example. Tax evasion could result in up to three years in federal prison and a fine of $250,000.
5. Insider trading
Illegal insider trading is the practice of accessing or obtaining nonpublic information and then using that information to buy or sell stock. Insider trading can undermine public trust in the securities market, and Securities and Exchange Commission (SEC) engages in market surveillance to prevent unfair market practices. To be convicted, the prosecution would prove beyond reasonable doubt that you bought or sold a security; possessed private information; the information was not publicly known; and the information was material. To be convicted, the government must show that the person bought and sold securities while having material nonpublic information, in violation of a duty not to trade. The penalties for insider trading could include up to 20 years in prison and up to $5 million in fines.
6. Computer crimes
Computer crimes are offenses that are done through the internet. Some federal computer crime offenses include identity theft, possession or distribution of child pornography, solicitation of a minor, money laundering, cyber bullying, spamming, phishing scams, cyberstalking, hacking, harassment, fraud, and copyright and trademark infringement. Penalties for computer crimes could be up to 20 years in federal prison and substantial fines.