What Is A “White Collar” Crime?
“White collar” crimes are typically nonviolent crimes that involve financial deception. These crimes may be committed knowingly or unintentionally. Many first-time offenders are otherwise law-abiding citizens who have engaged in illegal activity out of ignorance of the law or out of desperation due to economic difficulty. Such economic difficulty may arise as a result of factors such as gambling, drug addiction or family financial difficulties.
Crimes considered “white collar crimes” include:
- Identify Theft
- Insurance Fraud
- Internet Fraud
- Mail Fraud
- Money Laundering
- Mortgage Fraud
- Property Crimes
- Securities Fraud
- Theft, and
- Wire Fraud.
White collar crimes may be either state or federal crimes, and convictions can carry penalties of massive restitution payments, large fines, and jail or prison time.
Due to the economic nature of these crimes, both the defense and the prosecution of a white-collar crime are generally document intensive. Financial records, including tax documents, company financial statements and securities information are often entered as evidence.
If you have been charged with a white collar crime in Minnesota or are worried that you may be charged with one soon and have questions about a defense or your options, please contact Minneapolis criminal defense attorney Carolyn Agin Schmidt for help.