Three Biggest White Collar Crimes Committed in the Last Two Decades

White collar crime, although sounding less serious than other types of crimes, can cause serious damage to the national economy and individual financial stability. Due to the higher stakes involved in the crime, most offenders receive severe punishments that involve prison time as well as steep fines.

This write-up focuses finding some of the biggest crimes involving the white collar offences:

1.    Enron

The Houston-based agency sold a host of services to people all over the world. During the last decade, the corporation faked energy shortage to drive up the cost of electricity. They lied about their annual profits, and committed accounting scams to stabilize their stock prices. During the investigation, the company was found guilty on several charges. The CEO and chairman, Kenneth Lay, was sentenced with life imprisonment but died before his scheduled sentencing. Previous CEO of the agency, Jeffrey Skilling, was convicted for insider trading, making false statements, and multiple security frauds.

2.    WorldCom

WorldCom, once a big long-distance calling and Internet business corporation, met its fall after reports of misstating profits and accounting practices cropped up. The executives duped the investors regarding profits and filed for bankruptcy. The CEO, Bernard Evers, was convicted on the grounds of fraud and making false statements.

3.    Jack Abramoff

The Native American tribes paid close to $20 million as payment to former Republican lobbyist, Jack Abramoff, for lobbying congress regarding gambling casino rights. In some cases, he even worked backdoors to shut down the Native American casinos, as in such events the Native Americans would have to pay him more for lobbying.

If you have been accused of the white collar crime, then you might be facing decades in prison and thousands of dollars in fine. You can get experienced lawyers from the Bernstein, DeCailly & Marshall, PLLC to help your with representing you in the court. For more information, visit http://bdmcriminallawyers.com or call 1-833-3BDMLAW.

White collar crime and some FAQ's

White collar crimes are categorized as non-violent criminal activities in the business or commercial sector, done mostly for financial gain. These crimes involve money embezzlements, fraud, tax evasion, etc., and are often committed by professionals, with the motive of profit.

According to experienced Florida white collar crime lawyer, when a professional is charged with such an offense, he must immediately contact an experienced attorney. A lawyer well acquainted with the law and regulations in the field, can aid these people in a much better way.

Here are some common FAQ’s related to the crimes:

1. How white-collar crime is different?

These crimes are usually non-violent in nature. The people involved in such criminal activities are usually associated with commercial or business activity and might occupy a position of respect in society.

2. Are such crimes very common?

Each year, more than a thousand white collar criminals are prosecuted by the federal authorities. According to acquired data, each year the country loses more than $300 billion in money laundering, embezzlement, and other such crimes.

3. Are criminals charged with leniency?

Unfortunately, no. Such crimes create a national loss that goes up to billions. In the current political scenarios, these offenses and offenders are seldom given any leniency.

Have you been charged with such crimes, and are looking for a reliable attorney to represent you at the court? Then, you should contact Paul DeCailly of Bernstein, DeCailly & Marshall, PLLC. For more information, contact http://bdmcriminallawyers.com or call 1-833-3BDMLAW.

Which activities are regarded as white collar crimes in Florida?

The white collar crimes are those activities that are committed for personal financial gain. The actions include forgery, fraud, and money embezzlement. In this blog, you will find a list of activities that are regarded as white collar crimes in the state of Florida.

In recent news, a Florida woman was awarded 4 years in prison and a hefty fine for diversified white collar crime involving forgery, wire frauds, and incorrect healthcare billing. According to the Florida Annotated Statutes, a white collar crime involves forgery, fraud, embezzlement, bribery, and so on.

As per the Statutes, a convicted felon under the Florida white collar crime can be awarded a strict penalty, with or without prison time.

What are white collar crimes?

The offense can be defined as an act where a person breaks a law for profit and enrichment motives. According to an experienced lawyer, the profit motives might be dictated by:

1. Loss of assets, especially money or property
2. Financial advantages
3. Misuse of funds for personal gains

Traditionally, the term has been associated with the more affluent people who abuse their power for financial and personal advantages. However, in the modern scenario, with technological advancements, the definition has been updated. Now, it includes several other activities that are regarded as white collar transgressions. Let’s look at some of them:

1. Bribery

Offering a bribe or accepting the same, is considered a serious offense. The payments for personal or professional gains can be offered in the form of cash or other incentives. These illegal payments can be made to government officials or a person of interest.

2. Money laundering

It is a process where the money, earned from illegal activities, is passed through a complex series of banking transactions. In most cases, the overall motive of the process is to return the money to the launderer without any trace. The process involves doctoring the account books, or falsification of information relating to the source of the money.

3. Fraud

It is one of the most common forms of white-collar crimes and involves distortion of facts for financial gain. These activities are conducted to dupe the officials or tax agencies so that a given person can avoid paying their dues. One can also commit fraud against depositor, investors or shareholders by a company to gain personal profits.

Conviction associated with white crime felony

In the state of Florida, the punishment for such criminal activities might include prison time, in addition to a heavy fine. The sentencing is determined by the amount of money involved in the case and the nature of the crime.

Have you been involved in a white collar crime? Then, you should contact Paul DeCailly of Bernstein, DeCailly & Marshall, PLLC for legal consultation. For more information, visit http://bdmcriminallawyers.com or call 1-833-3BDMLAW.