Crime is not only about murders, burglary, assaults, etc. These are all violent crimes but not the only form of crime. There are also some non-violent crimes such as Ponzi schemes, insider trading, money laundering, etc. These non-violent crimes, which involve illegal financial schemes, are equally serious crimes.
Such crimes are called white-collar crimes. Although these crimes don’t involve violence, they can debilitate individuals, society, and the economy as well. In this article, you will learn about some common white-collar crimes.
Common White-Collar Crimes-
Common white-collar crimes include corporate frauds, Ponzi schemes, and more. No matter which type of crime it is, hiring an attorney in Springfield, MO, is always advisable for legal representation.
1. Insider Trading:
Are you trading in any financial market (stock market)? If yes, you must have heard the term ‘insider trading.’ A person who has insider information about certain stocks which are not disclosed to the public can take advantage in the financial market. To give you a clear idea of what insider trading is, here is an example.
Assume that an employee working in an investment bank may have information about a specific company A. He knows that company A is preparing to acquire another company B. Now, the individual can buy the shares of company B with the expectation that the share price may go up significantly in the future.
It is a type of white-collar crime in which the entrusted person or entity misappropriated the assets of a company. Embezzlement crimes can range from small to very large amounts. It can be simply a clerk or office executive stealing a few dollars from the cash register.
Also, it can be an executive of a large corporation falsely showing million-dollar expenses by transferring money to their personal accounts. The criminal can be punishable by huge penalties and time in jail, depending on the scale of the crime.
This type of crime usually occurs by individuals who have access to an organization’s fund for safeguarding those assets. The individual may intentionally use that money for personal use. The person can do it by himself/herself or by collaborating with a partner or vendor of the company. Explore top lawyers in America and how they can help you.
3. Money Laundering:
Money laundering is a type of crime in which the criminals collect money through illegal transactions and convert those into a legal business. Generally, money launderers start a legal business to hide their illegal source of income.
One of the best examples of money laundering cases is if a company ends up with a huge amount from smuggling or any other illegal business, which can lead to legal investigations. Now, the company may try to conceal that money by starting a legit business.
You might have encountered duplicate money. Due to advanced technology and laser printers, criminals can easily copy the old currencies. To reduce these crimes, the government is making our money so colorful.
However, it’s a serious concern for the government and citizens. Every citizen wants to know how successful the government’s effort in this regard is. Rumors always spread about counterfeiting, and what the government should do to deal with the issue is a question of the citizens.
Extortion is a kind of white-collar crime in which the criminals threaten a person or entity to possess their money or property. It usually involves a threat to the person or their family or friends to illegally acquire money or property.
The threat can also be reputational harm or blackmail. In such cases, it’s always advisable to take advice from a well-qualified Attorney in Springfield, MO, to acquire money or property illegally on what to do.
Hopefully, the above information has helped you to understand what white-collar crimes are. It’s always advisable to hire an experienced attorney in Springfield, MO, who will help you fight your case. Perhaps, you may not have the legal knowledge and skills to fight for the case, so you shouldn’t assume that you can handle it on your own.