US WHITE COLLAR CRIME

Being accused of a white collar crime can be embarrassing and frustrating. It’s hard to know who to trust and what to do. But a little bit of legal knowledge can keep you from making mistakes that can impact on your future.

The term “white collar crime” usually refers to business-related financial crimes, such as fraud or embezzlement. These crimes violate federal laws and are typically charged in federal court.

You could be under investigation, if you:

• Receive a grand jury subpoena to produce business documents
• Are presented with a search warrant to seize your business records
• Get subpoenaed to testify at a grand jury investigation
• Receive a “target letter” or “subject letter” telling you you’re under investigation
• Are contacted by a state or federal investigator who wants to question you

It’s very important not to give statements or otherwise cooperate with investigators until you’ve talked with an attorney. Don’t make the mistake of thinking that everything will be all right if you just tell investigators everything.

They are out to build a case against you and will use whatever you tell them or give them to your disadvantage. You can always talk with investigators after you’ve had an opportunity to get legal advice, if your lawyer thinks it’s appropriate.

TYPES OF WHITE COLLAR CRIME

Antitrust Violations: Price fixing, monopolies and other infractions of the Sherman or Clayton Act
Bank Fraud: Fraud against a banking institution, including check kiting and commercial loan fraud
Bankruptcy Fraud: Individuals or corporations who lie to creditors about assets or debts
Bribery: Offering money or property with the intention of influencing the behaviour of others
Computer/Internet Fraud: Using the Internet or computers to defraud others
Credit Card Fraud: Using someone else’s credit card to purchase goods illegally
Counterfeiting: Copying goods, like designer merchandise, or money and passing off the copies as genuine
Economic Espionage: Stealing or misusing trade secrets
Embezzlement: Using money or goods entrusted to you for your own benefit
Extortion: Taking money from someone through force, coercion or threats
Forgery: Manipulating or changing a written document for monetary gain
Insurance Fraud: Defrauding insurance companies by exaggerating or fabricating claims
Money Laundering: Running money obtained illegally through a legitimate business
Securities Fraud: Can include insider trading and theft through market manipulation
Tax Evasion: Filing inaccurate IRS returns, not reporting income on tax returns or not filing tax returns

If you think you may be under investigation for a white collar crime, the best thing you can do for yourself is get an attorney right away. A white collar crime attorney may be able to convince investigators to close an investigation or remove you personally from investigation.

Further along in the process, an experienced lawyer can talk with prosecutors to work out a plea bargain or other deal that keeps you out of jail and possibly prevents you from having a felony conviction. Your attorney could argue that there are mitigating factors, such as no prior criminal history and tangential connection to the crime.

POSSIBLE PENALTIES

Fines

Jail time

Restitution (returning money or property)

Forfeiture (giving up money or property)

Supervised release

Home detention