The term “white-collar crime” was reportedly coined in 1939. Today, it is synonymous with a wide range of frauds and scams committed by businesses and government professionals with the intent to steal large amounts of money. If you are under investigation for white-collar crimes, it is crucial that you obtain representation from an experienced criminal defense attorney serving Westwood and Hackensack, NJ. The evidence involved in these cases can be extremely complex, so it is important that your lawyer has experience defending against fraud, bank fraud, credit card fraud, identity theft, and other types of white-collar crimes. Here is a closer look at some of the most common white-collar crime charges in the U.S.
The U.S. insurance industry consists of thousands of companies that collect more than $1.1 trillion in premiums each year. In some cases, policyholders, insurance industry insiders, and loosely organized networks bypass anti-fraud measures put in place by insurance companies to steal approximately $30 billion a year in insurance fraud schemes.
Bankruptcy proceedings can be a lifesaver for individuals overwhelmed by debt, but it is also used by individuals who have the financial assets to pay their debts. The penalties for individuals found guilty of bankruptcy fraud can be severe. In Phoenix, for example, a financial loan officer was sentenced to 15 years in prison and ordered to pay $22 million in restitution after being found guilty of various bankruptcy fraud schemes. If you are facing bankruptcy fraud charges, contact an experienced criminal defense lawyer in Westwood.
Money laundering is the process by which criminals conceal or disguise the proceeds of their crimes or convert those proceeds into goods and services. When illegal money is infused into the stream of commerce, the Federal Bureau of Investigation and Department of Justice take action to identify the source(s) of the laundering operation and bring charges against the individual(s) responsible.