White-collar crimes are offenses perpetrated by people in positions of power who have taken advantage of the access or influence entrusted to them by customers, investors, or the public. These crimes are committed by sneaky executives and public officials who aim to make money or expand their sway in business or government. The following are common examples of white-collar crimes:
A Ponzi scheme involves a business model whereby a business, such as an investment fund, fraudulently accrues new stakeholders and investments while secretly seeking to use those funds in place of company profits to pay off departing investors. Handsome payouts attract subsequent investors and the business is kept afloat from investment money changing hands. Eventually, the scheme ends when the money dries up, leaving the remaining stakeholders with nothing but worthless stock.
A similar type of deceptive business behavior is securities fraud, which occurs when company representatives promote investment in their business by falsely overstating the value or viability of the company’s stock. Another type of securities fraud happens when company insiders share privileged information that relates to its stock’s anticipated performance to help an investor make money or avoid losing money; this is called insider trading.
A trusted employee or executive with access to company or government money that misrepresents the office’s accounting to pocket some of that money for themselves is committing embezzlement.
A person or business that falsifies financial figures or information on tax forms with the intent to avoid paying taxes is guilty of tax evasion.
When the documentation for a mortgage is intentionally misstated, it is known as mortgage fraud. This can happen when a home buyer provides fraudulent paystubs to qualify for a loan, when real estate professionals conspire to inflate the home’s value and make money on a flip of the property, or when a home’s value is falsely increased by an appraiser to meet the value amount required by the lender.
Money laundering is perpetrated when a company makes money illegally and mixes these illicit earnings with legitimate earnings to hide their origins.
When an individual’s personal information is used without their knowledge to secure a loan or other item of value, that individual is a victim of identity theft. Identity thieves use other people’s social security numbers and other identifying materials to pose as the victim, leaving debt and credit issues in their wake. Often, identity theft is employed in the commission of other white-collar crimes, as criminals try to conceal their own identity by committing the crime under someone else’s name.
South Jersey Criminal Defense Lawyers at the Law Offices of Robert N. Agre Represent Clients Charged With White-Collar Offenses
Being accused of a white-collar crime is serious business. You will need an experienced law team on your side to disprove the allegations against you. The South Jersey criminal defense lawyers at the Law Offices of Robert N. Agre have the knowledge and experience to defend clients against financial crimes and other types of fraud charges. Fill out an online contact form or call us at 856-428-7797 today for an initial consultation. Located in Haddonfield, New Jersey, we serve clients throughout South Jersey, including Burlington County, Camden County, Gloucester County, Salem County.