What Are the Common Elements of White-Collar Crimes? 

 Posted on April 18, 2023 in Criminal Defense

White-collar crimes are non-violent crimes committed, usually to illegally obtain money or property, by individuals in the course of their work, business, or personal life. However, white-collar crimes can become highly complex and have far-reaching consequences. Therefore, it is imperative to understand that if you are ever accused or charged with committing a white-collar offense, do not hesitate to contact a criminal defense attorney, as your freedom may be at stake.

Typical Elements in White-Collar Crime Cases

Here are some common elements of white-collar crimes, including:

• Financial gain – This is a common element of white-collar crimes. The perpetrator commits the crime to obtain money or property. For example, embezzlement involves stealing money or property from an employer or other organization. Meanwhile, insider trading involves using non-public information to profit in the stock market. 

• Deception – White-collar crimes frequently involve deception. The perpetrator may use false information, lies, or other forms of deceit to carry out the crime. For example, a Ponzi scheme uses new investments to pay off earlier investors while creating the illusion of profitable investment.

• Abuse of trust – Many white-collar crimes involve abuse of trust. The perpetrator takes advantage of a position of trust or authority to commit the crime. For example, a financial advisor who misuses client funds or a corporate executive who engages in accounting fraud is abusing their positions of trust.  

• Complexity – White-collar crimes often require high planning and organization. The perpetrator may create a series of false documents or use sophisticated technology to carry out the crime. For example, cybercrime involves using computer technology to commit a wide range of white-collar crimes, such as phishing, hacking, and identity theft.

• Legal violations – White-collar crimes often involve violations of laws and regulations. For example, tax evasion involves intentionally underreporting income or overstating deductions to avoid paying taxes. Bribery involves offering or accepting money or gifts for a favor or advantage.

Contact a Knoxville, TN Criminal Defense Attorney

It is vital to take white-collar crimes with the utmost seriousness, as penalties can be extremely severe depending on the offense. If you have been accused of committing a white-collar crime or have already been charged, you must act swiftly and aggressively to ensure you know your rights and that they are accepted. Contact the astute Knox County criminal defense lawyer with Jeffrey Coller, Knoxville Criminal Defense Attorney. Call 865-281-1000 for a free consultation.

Source:

https://www.investopedia.com/terms/w/white-collar-crime.asp