White-collar crime has long been an issue in business, and it was officially named in around 1939. These crimes include a range of frauds that are generally non-violent. Some types of white-collar crimes including money laundering, mortgage fraud and health care fraud.
White-collar crimes are usually committed by businesses or professionals who work for the government. The motivation is usually financial, helping the person committing the crime seek out additional money, property or services. Sometimes, the crime is a way to secure an advantage of another kind.
If you are accused of participating in a type of fraud, it is always in your best interests to get in touch with an attorney. Federal crimes can have harsh penalties and may significantly impact your life during an investigation.
What is corporate fraud?
One of the highest priorities for the Federal Bureau of Investigation is to stop corporate fraud. This fraud can cause a number of significant losses for investors. It can also hurt investor confidence and impact the economy. The schemes involved in these cases may defraud investors or deceive people by hiding the true value or financial position of the business. By manipulating the data to make the company look more profitable than it is, more people may invest and potentially lose out on their investments later on.
The FBI looks for certain illegal actions such as:
- Illegal transactions that are performed to avoid regulatory oversight
- Fraudulent trades that are made to hide losses or inflate profits
- False entries in accounting that may misrepresent that business’s financial position
- Late trading
- Falsification of net asset values
- Misusing corporate property for personal gain
- Insider trading
What should you do if you’re accused in a case of corporate fraud?
If you are accused in a case of corporate fraud, it’s time to turn to an attorney for help. These crimes can lead to time in prison, hefty fines and other penalties. It is a good idea to make sure you have someone on your side to help you get to know your options for a defense, so you can design a defense that helps you avoid unfair treatment and punishments.
It is possible to be working for a business that has individuals who are committing these crimes and to be falsely accused of participating in them yourself. If you find yourself in that position, it is in your best interests to avoid speaking with law enforcement until your attorney is present.
